Predictions begin around the future value of XRP

As reported earlier in the week, Ripple’s XRP value reached March 13, “its lowest level in almost three years,” as Josh Olszewicz of Brave New Coin said.

just now looking at the $ XRP chart

didnt realize it hit almost 3 yr lows

Damn pic.twitter.com/aHZVRTn05m

– Josh Olszewicz (@CarpeNoctom) March 22, 2020

Cryptocurrency is more than 90% below its historic high of $ 3.30, set at the height of the cryptocurrency from 2017 and 2018. Since the start of the year, XRP has dropped 20%, which is lower than Bitcoin's relatively weak performance (-14%). Despite this underperformance, analyzes expect a return to the lowest annual rates at $ 0.12.

XRP could reassess annual declines

Last week, the cryptocurrency market reacted surprisingly well in a context of global market collapse. Despite the biggest week of losses for the S&P 500 and Dow Jones indices since the Great Recession of 2008, Bitcoin and others digital assets have actually recovered, recovering more than half of the losses they suffered when falling from $ 7,700 to $ 3,800, the BTC reaching a peak of $ 7,000 on some scholarships.

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The XRP also had its share of recovery, recovering to $ 0.175 after the low of $ 0.12. However, in the past few days, the bullish momentum has stopped, with the BTC falling below $ 6,000 and the XRP amounting to $ 0.15. This price action will be a precursor to a return to the lowest rates of $ 0.12. The analyzes indeed noticed that there was a clear rejection of a upward trend, while the recent price action has shown signs of establishing a short-term peak at $ 0.16, a region of resistance.

Buy all the zerps. $ XRP pic.twitter.com/fNtcyNmFhF

– Credible Crypto (@CredibleCrypto) March 22, 2020

All eyes are on Bitcoin

It is important to emphasize that the direction of the XRP will be mainly dictated by the bitcoin rate in the foreseeable future because altcoins, especially in period of high volatility, follow the market leader. This begs the question: where will the BTC go next? Analysts have not reached consensus on the next steps for this market, not least due to the uncertainty in traditional markets. According to previous NewsBTC reports, analyst Josh Rager noted that according to CoinMetrics data, Bitcoin's correlation with the stock market (namely the S&P 500) has “maintained between 0.5 and 0.6 since the fall prices on March 12, “suggesting that any new stock sales will collapse BTC prices.

Looking to aggressively add to shorts if re-accepted back into 5800 range composite VAH.

Equities likely to get slaughtered this week.

Bitcoin will follow.

Pretty confident we see low 4s again. $ BTC $ ES $ SPX pic.twitter.com/YhF30E4ltP

– Cantering Clark (@CanteringClark) March 22, 2020

Cantering Clark echoes this by explaining that given the context macroeconomic weak stocks, he says “fairly confident that we are again seeing low-yielding stocks of $ 4,000”.