Cryptocurrency

Ripple Asset before the From? What speaks for a further fall in price of XRP, or a turning point

For many crypto currencies, the year 2020 was a very good year. The two largest Coins according to the market capitalization of Bitcoin and Ethereum are 2020 with 25% and 72% in the Plus. Unfortunately, you can’t say the Same of XRP. The Asset of Ripple had looks from 2019, with almost -50% is already a very bad year and 2020, with a Minus of 8% so far, not much better. A few weeks ago XRP even the 3 had to. Space of all crypto currencies by market capitalisation on the Tether to give and has lost further ground. When it comes to some traders, then this could reinforce this negative trend even more. On the other hand, there is for all of Ripple Fans, however, a light look at the XRP price.

XRP rate on the descending Branch

As already mentioned in the beginning, is also the year of 2020, so far, no good for XRP. This is interesting mainly because the company Ripple has made 2019 as well as 2020 made good progress through new partnerships with other financial companies. But as it seems, there is no direct connection between the success of Ripple and the XRP price.

Trader Luke Martin summarises the current Situation in Ripples XRP fitting as follows:

The last few months have been pretty wild for many groups of Altcoins with a rise in the interest of the Narrative and of the volume. A Altcoin, the power in such a time, usually at least 1 Pump is XRP. But not this year… it’s like the whole year 2020, through.

If you look at the Chart of the XRP exchange rate in the last month, this assessment is at least true, if not even with a Minus of 13% understated.

When it comes to the Trading legend Peter Brandt, it could come in the future for the Asset from Ripple even worse. Brandt this bear confirmed of mood in a Post, and the possibility of another 90% looks ready-to-crash:

It looks as if Ripple Labs @Ripple has blown up for the support of XRPBTC on the levels .00002060 to .0002075 assigned to a stopper. If the Eislinie may not be required to search for new support under .0000194 on the way .0000145.
Hey, I’m just a Boomer, the XRP hates

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There is light at the end of the tunnel for Ripple Fans?

So strong is the downward spiral is also of XRP is seemingly so necessary is also a little bit of hope for all of the Ripple Fans. This light at the end of the tunnel for a positive change in Momentum for the XRP price the Trader “Cold Blooded Shiller” who has discovered a breakthrough of a trend line towards the top looks.

Nevertheless, further Performance of Ripples XRP continues to be strong, Bitcoin-dependent. This shows a relatively high positive correlation between XRP and BTC of 0.8. All Crypto Fans should, however, also said that it is always the fundamental facts worthwhile behind the crypto-currencies to look at and to pay attention not only on the price.

As mentioned at the beginning, sees it for XRP rather poor, because the course appears to be relatively independent of the success of the company Ripple. It should be from now on, however, with the 4. largest crypto-currency go back up to the top, we also like to surprise.

[Image Source: Shutterstock]

The comments in this article do not represent any trading recommendations or investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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