- The Ripple Price Has Dropped By Around 35% From Its September 6 High Of $1.39
- Overall uncertainty in crypto market continues to take hold as the vast majority of coins continue to suffer losses
- Volatility expected to continue at least for some time.
The Ripple price has suffered another considerable hammering over the past few days with the price dropping below the $1 level and experiencing a considerable decline. It has suffered a massive 35% decline from its September 6 high of $1.40 with the recovery stopped completely in its tracks.
Although the current price might be tempting as an opportunity to buy the dip, it does seem that the crypto market overall is looking at a further descent as pressures continue to bite. Investors are looking at some tough days ahead although a turnaround could be on the horizon if bulls suddenly decide to make a move at these tempting prices.
It has to be said that the current crash is not limited to crypto but there are also huge ripples going on in the overall stock market picture. The Evergrande situation in China threatens to destabilize worldwide markets and the economic situation.
If you haven’t yet bought some Ripple, then you should take a look at this How To Buy XRP Beginner’s Guide.
Short Term Prediction For Ripple Price: A period of accumulation before another recovery?
The Ripple price has lost a considerable portion of its recent gains where it is currently trading at the $0.94 level. That is around 35% of the September 6 high where the flash crash that occurred the following day pushed XRP down to just above the $1 level.
If a bullish thesis were to take control of the market, then one may expect the Ripple price to move forward and tag the $1 mark again. If this resistance level is broken, then the $1.10 level may be a distinct possibility although the negative sentiment in the crypto market would have to swing considerably for this to occur.
A bearish thesis would of course invalidate this prediction. If this were to take over, XRP would probably drop close to the $0.90 level or a 5% decline. If this support level breaks and a sell-off occurs, the Ripple price would continue its descent, possibly to the $0.85 level. This price point could be a good springboard to bounce off from.
If you’re interested in trading some cryptocurrency, then you should take a look at these Top Cryptocurrency Brokers.
Long Term Prediction For XRP: Still Bullish But Recovery Seems To Have Run Into A Wall
Although the Ripple price has currently taken a considerable beating of late, the long-term predictions for it remain bullish. At present, the economic uncertainty in the markets is taking its toll with traditional and tech stocks also taking a hammering.
Analysts still predict the Ripple price reaching the $2 level by the end of the year with some even more ambitious where the $3.50 and $5 levels have also been bandied about. Much depends on investor sentiment and the market in general which at present seem rather bleak.
Where to Buy Ripple
If you want to purchase Ripple, you can do so on the following exchanges:
• eToro
eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
• Binance
The other platform where you can buy XRP is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.
Looking to buy or trade Ripple now? Invest at eToro!
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Gerald Fenech
