We want to start this XRP price prediction with a moment of silence … Let’s honor the capital that the market crash with it on the bottom. Billions of dollars have disappeared in a matter of hours, and this applies not only to the crypto market. The correction did not spare anyone. But we are not discouraged and look positively into the future.
The main events of the week
Talking about technical indicators makes no sense. Of course, they say — sell! It is more important now to consider the events that led to the global crypto market crash.
Roots grow from traditional markets. There has been no such correction for 33 years, starting with the events of Black Monday 1987. The American stock indices Dow Jones, S&P 500, Nasdaq and Russell 2000 dropped for 9-12% at the end of trading on March 12. Shares of popular companies also lost their value, for example, Tesla lost 36%.
COVID-19 led the fall
The coronavirus played an important role in the fall. World Health Organization has declared a pandemic of the virus — the whole world is being quarantined and this adds panic to financial markets. The financial crisis is gaining momentum.
The fall of the cryptocurrency market began at the time of the closure of the CME because it is there that the bulk of Bitcoin futures is traded. The suite followed the king. At some point, the BTC fell to $3800 but was very quickly bought above $5000.
But we make Ripple price prediction, not Bitcoin. The main remittance coin is losing about 40% of the cost. XRP is currently trading at $0.14-0.16. There is a feeling that this is not the end.
Two sides of XRP price predictions
Honestly, finding a negative XRP price prediction in today’s conditions is very difficult. All analysts believe that we are already at the lower bottom and there is simply nowhere to fall. But we managed to find some interesting opinions. Let’s start, as always, with something positive.
Positive Ripple price predictions
The user of TradingView with the nickname ripple10usd saw a Fractal, similar to 2017. Then, having reached the bottom, the price exploded! Let’s see if the story repeats itself.
Faibik in his Ripple price prediction says that XRP has reached the bottom support. It’s the rightest moment to buy. He notes that this support has existed since 2017, but the bears are still in power. The author says that if weekly candles close above the green area, then we can expect a bounce back.
Negative XRP price predictions
In his Ripple price prediction kryptochristo says about the formation of a bear flag. The analyst notes that XRP will follow to $0.10. The coin can’t deal with .618 Fibonacci at around .168 and traders will not be holding it in their arms for a long time.
joshwoodcock published really brutal XRP price prediction. He claims that the liquidity of the crypto market is gone and everything we can expect for is a complete dump! The value of XRP must drop to $0.035.
Our take on the complicated situation
There is nothing to talk about regarding news flow. Let’s move right to our Ripple price prediction. So, what we’re expecting from XRP:
- It is too early to breathe out and stuff pockets with new coins! Markets are not too stable yet. We really can go down even lower, because there has already been an attempt to push Bitcoin.
- The coronavirus pandemic has just begun. If whole countries are quarantined, the global economy will continue to fall. In this case, Ripple has no chance for growth.
- On the other hand, the price is at a very strong support level. If the market is fairly calm, we will begin to grow in the near future.
- We will follow Bitcoin. Now the news will not play a big role, only the general movement of the cryptocurrency market can lead us.
That’s all! Now it is extremely dangerous to make accurate predictions and say that we are confident in something. The situation in the world is so unstable that the Fed is pouring $168 billion into the US budget per day. We can only observe and hold the crypto until the next growth!