Ripple Price Analysis : Bearish trend likely to continue

Ripple Price Analysis:

Ripple provides a first-class system of payments, incomparable experience of sending and receiving money in the circle of finance and economics by using Blockchain technology. Ripple (XRP) as a digital capital can be uses by banks and other major finance providers to downsize their costs of transaction and payments.

Ripple News:

Ripple is in a race to build a world that must be unify virtually through potent Blockchain technology.

Brad Garlinghouse in his recent tweet clarifies his spirit about solving a major issue about credibility of banks.

The ten Trillion dollars sitting in the banks around the world is the oil in engine that allows banks to transact with one another. If we can reduce the amount of oil necessary for the engine, that would be incredibly efficient for the global economy.

Recently, a prominent analyst, Michael B of XRP tweeted on 6th July that top 100 banks are joining XRP.

If institutions choose, they can also use $XRP in payment flows to improve liquidity in cross-border payments. Six major payment providers are already piloting. Eleven of the world’s top 100 banks have joined Ripple’s network

Statistics:

  • Total market cap of Ripple (XRP) is $16,635,980,783 USD and 1,479,306 BTC.
  • 24 hour volume is $1,280,311,085 USD and 113,848 BTC.
  • Circulating supply of Ripple (XRP) is 42,566,596,173 XRP.
  • Ripple (XRP) rank on Coin Market Cap is #03.

 

Ripple Price Value:

Currently Ripple (XRP) Price at the time of writing is $0.399641 USD and 0.00003366 BTC.

Ripple Price Comparison:

The 7 day date of XRP showing us that bullish trend is weak and price is decreasing slightly day by day. The price value of XRP on 1 July is $ 0.40.After two days, the price remained same at $0.40 moving in side-ways trend. The price plummeted to $0.37 suddenly on 5th July but a slight trend of Bulls speed up and price value becomes $ 0.39.

Source: Coinmarketcap.com

Ripple Price Prediction:

Based on data of XRP of previous 30 days, the bearish trend has a controlling power.

Source: Tradingview.com

Technical signals are guiding us that bearish trend is stronger than uptrend and same pattern will be followed in next coming month.

The respective support levels are $0.374, $ 0.368 and $0.361.The resistance level will be at $0.386, second resistance will be at $0.394 and third resistance level will be at $0.399.

Conclusion:

Ripple is announcing  innovative news about its digital asset XRP and Ripple network almost in every coming weak but bearish trend is so strong from last month that Bulls will remains under-estimate in next coming month.

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Davis Byrne

Davis Byrne got into cryptocurrency world since 2013. He contributes technical chart-based price updates and price analysis on world's leading digital currencies.

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