The digital space broke supportpast the $0.1880 versus the USD. XRP is now trading somewhere near $0.1840, andit might correct higher. The bearishtrend line is forming near $0.1920 on the hourly chart of the pair. The bearish momentum is slowly gaining. The RSI for XRP/USD is heading towards 40levels. Major support levels get at $0.1840, and the major resistance level isat $0.1880.
Investors want 2020 to be betterfor them in terms of XRP. Magi, ananalyst, stated that XRP is printing something that seems like a bear flagbreakdown.
Yet another analyst opines thatthe current price action is similar to the bottoming pattern seen in December2015 to January 2016. The trend thenshowed a massive spike to pre-crash levels. Further, this will eventually lead to an enormous upside in sharpreversals. If the trend should repeat, XRP should hold $0.14 through a $0.17range. If that should happen, the pricemight go up as high as $0.473, which is 175% higher than the current prices.
There was a shocking prediction from Ripple CEO for 2020. Despite what has to say, practical ideologies suggest that major Altcoins will continue to survive.
Brad Garlinghouse, stated, “I think you’re going to continue to see consolidation. The world doesn’t need 3000+ cryptocurrencies out there, and I think the utility will bear out that there will be a migration to quality if you will.”
The long-termpredictions for XRP are not rosy. Predictions are a different thing. Predictions get based on a bit on people'sperceptions and past trends. The valuesystem backing the Ripple brand of things like the gross settlement system,cross-border currency, or asset transfers are trending in the better path, andthey are performing offbeat in their business. The transaction fees collected are indeed tiny.
When talking aboutRipple based XRP, several analysts opine that it is not a cryptocurrency in thereal sense because it is permissioned and centralized. Overall, many opine thatXRP has nothing to do with the functioning of Ripple, further adding thatRipple does not need XRP to function. Some call the value of XRP to be volatileand something without any use case at all.
So, why is XRP aroundfor? No stake in company profits. NotEquity Shares. Some blames like theRipple team manipulating the prices is as well doing the rounds.
Ripple and XRPthough, do not seem to be bothered about haters and naysayers.
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