- Ripple’s XRP record 92% loss in 2 year
- Does Ripple offer a prefect investment prospects
- What is Next for Ripple XRP?
During the recent retrace net of Bitcoin (BTC) price to $6,400, all Altcoins declined drastically, this surged Bitcoin’s dominance over 70%. Ripple’s XRP is one of the tokens affected. XRP took a blow of 20% and is presently priced at $0.19 per coin. This is the lowest value the coin has attained in over two years after hitting as low as $0.178.
Despite the price movement, Ripple recently announced that it has been able to raise another $200 million in funding. The company also claims that they have “the strongest year of growth to date in 2019.”
Does Ripple Offer a Perfect Investment Prospect?
XRP has reached its lowest USD worth in 26 months, sadly, the coin is still trending downward. It coin has made a bearish retest of the $0.30 level, the price declined further and is currently trading at the next key support at $0.17 – 0.20.
Since October 2017, this is the lowest the coin has gone, the prospects of a bullish price trend are slim as the coin keep retracing lower.
This does not mean that XRP is a perfect investment opportunity currently, great investment prospects usually happen when prices are not displaying the growth of the asset or project itself. So, this might be the case of Ripple’s XRP.
The XRP/BTC pair is not displaying much momentum after losing significant support. XRP’s lows are as a result of BTC’s volatility. The retracement occurred to the next major support level, which must now hold if XRP wants to escape making new lows. The XRP/BTC Chet indicates that XRP is still displaying a bullish prospect in the long-term for a prospective trend reversal. Though, the green zone must hold to ascertain these bullish trends.
What Is Next for Ripple XRP?
In the past few years, Holding XRP did not bring the profits people projected as the price retraced 94.80% since the surge in January 2018.
It is not safe to conclude yet that shorting XRP is a wise investment strategy to adopt. It is worthy of note that Ripple so far has been steadfast in pursuing their plans. Sentiments can only bring bearish returns, the highest returns are gotten from investment as the opposed sentiment which can switch instantly with just a few green candles.
XRP (XRP) Price Today – XRP / USD
Nonetheless, it is critical for XRP to hold the 2,500-2,600 (BTC) satoshi level as support and try to find bullish momentum or support at $0.19-0.20. is this level serve as support, the risk/reward prospect for longing XRP will be much higher than shorting it.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.