The digital space broke support past the $0.1880 versus the USD. XRP is now trading somewhere near $0.1840, and it might correct higher. The bearish trend 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 40 levels. Major support levels get at $0.1840, and the major resistance level is at $0.1880.
XRP Price Potentially Can Touch $0.473
Investors want 2020 to be better for them in terms of XRP. Magi, an analyst, stated that XRP is printing something that seems like a bear flag breakdown.
Yet another analyst opines that the current price action is similar to the bottoming pattern seen in December 2015 to January 2016. The trend then showed a massive spike to pre-crash levels. Further, this will eventually lead to an enormous upside in sharp reversals. If the trend should repeat, XRP should hold $0.14 through a $0.17 range. If that should happen, the price might 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.”
XRP not Cryptocurrency in the True Sense
The long-term predictions for XRP are not rosy. Predictions are a different thing. Predictions get based on a bit on people’s perceptions and past trends. The value system backing the Ripple brand of things like the gross settlement system, cross-border currency, or asset transfers are trending in the better path, and they are performing offbeat in their business. The transaction fees collected are indeed tiny.
When talking about Ripple based XRP, several analysts opine that it is not a cryptocurrency in the real sense because it is permissioned and centralized. Overall, many opine that XRP has nothing to do with the functioning of Ripple, further adding that Ripple does not need XRP to function. Some call the value of XRP to be volatile and something without any use case at all.
So, why is XRP around for? No stake in company profits. Not Equity Shares. Some blames like the Ripple team manipulating the prices is as well doing the rounds.
Ripple and XRP though, do not seem to be bothered about haters and naysayers.