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XRP Price Prediction – Ripple XRP Continues in the $0.2980 to $0.3000 Range as Bearish Pressure Grows – August 22nd, 2020 

  • Ripple XRP is Struggling in the $0.2980 to $0.3000 Range
  • Current Price of XRP is Discouraging But There is Hope that the Token Will Recover 

XRP Price Prediction – Less than a month ago, XRP was one of the best performing cryptocurrencies on CoinMarketCap. For the first time in a long time, the token gathered significant momentum that allowed it to rise from the $0.1900 to above the $0.3200 within a few days. This was the first time XRP was gaining at such a fast pace in a few months. Shortly after the XRP token moved to the $0.3200 level, it started correcting lower and has been unable to gain the momentum it needs to retest this level. For about two weeks, the token maintained the support at $0.3000. However, things changed and the token lost this support falling below it. It has been stuck in the $0.2800 to $0.2980 range for the last few days. It hasn’t been able to move above this $0.3000.

XRP Price Prediction – XRP Remains in the $0.2800 And $0.2980 Level Shy of $0.3000

At the time of writing, the price of XRP was $0.280504. This means that it is down by 2.19% against the USD and down by 1% against Bitcoin BTC. The trading volume over a 24 hour period was $1,627,852,541 and the market capitalization was $12,606,553,900. While the token is struggling to retest the support at $0.3000, the technical indicators are moving to the bullish territory. The MACD is moving bullish and the relative strength index is slowly moving above level 50. There are key support levels at $0.2880, $0.2850, and $0.2800 while there are key resistance levels $0.2980, $0.3000, and $0.3030.

To prevent lower lows against the USD, the XRP token must remain within this range to prevent it from moving lower against the USD near-term. The fact that the technical indicators are currently bullish shows that there is hope for a rise above the resistance at $0.2980. If this happens, it will also clear the 100 simple moving average and might be able to move as high as $0.3200 level near-term. Right now, it’s important to note that XRP is currently under a lot of pressure from the rest of the cryptocurrency market. At the time of writing, the price of Bitcoin BTC was $11,601.71. This means that it is down by 1.23% against the USD. The trading volume over a 24 hour period was $24,259,938,164 and the market capitalization was $214,258,149,830.

XRP Price Prediction 2020 – Ripple XRP Price Prediction

Two possible things can happen to the XRP token. If the Bitcoin BTC token should gain enough momentum to rise and drag the rest of the market along, XRP might start rising. If it moves above the $0.2980 level, it will find a hurdle at the $0.3000 and another one at $0.3030. After this, it will face resistance at $0.3120 and another one at $0.3250 before it finally reaches the $0.3320 level.

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.

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