Ripple (XRP) rate at lowest point since two years

Phew. Not only did bitcoin return a lot last night, all altcoins also feel the pain. XRP is no different in that regard, the currency is now even at its lowest point in two years. At present, the value is 22 cents (20 cents).

Contents hide

1 Long bear market

2 The price can only go up right?

3 Temper euphoria

4 Related posts:

Long bear market

This morning, XRP was even worth $ 0.200050, which is the lowest price in two years. Two years ago that was the starting signal for the parabolic growth of XRP to 3 dollars.

$ XRP traded at under $ 0.21 today for the first time in nearly two years (December 2017).
– Ceteris Paribus (@ ceterispar1bus) November 25, 2019

The price can only go up right?

Now that we have passed this price again, there are analysts who think that 20 cents can again be the start of a (partial) bullrun.

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The popular trader Crypto Welson first drew attention to the irrationality in the emotions of the market. Welson thinks it is a good sign that the course of XRP is currently trading on an important long-term support. The Relative Strength Index is also oversold on the one-day chart. According to Welson, this combination gives confidence for substantial growth in the coming months.

$ XRP is currently hovering below 30 cents, and the world seems to be more bearish than ever.
Isn’t it weird how people’s minds work? They become more bearish the further we drop …
We’re in support right now, and I’m expecting a massive run-up in the coming months. ?? pic.twitter.com/lJbI7blmne
– Welson ? (@CryptoWelson) November 24, 2019

CryptoBull is also positive about the potential of the XRP price, albeit somewhat more moderately. He compared the price with that of March 2017. Based on his research, he expects this to be the start of a run towards 30 cents. The rate will continue to grow from there. This is of course not a 100% guarantee, but it certainly implies that there is potential for at least a price recovery.

#XRP comparison. Yellow line is March 2017 versus now. Whales will initiate the rockets soon. As soon as weak people start selling and whales can’t buy your XRP anymore we will moon. STOP SELLING. pic.twitter.com/ogrtVJ661g
– CryptoBull (@ CryptoBull2020) November 24, 2019

Most major altcoins such as Ethereum, Litecoin and others depend on the volatility of the bitcoin rate. Whether it is an advantage or a disadvantage, that is up to you to determine, but the price of XRP moves independently of that of bitcoin.

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An example took place at the beginning of 2018. Bitcoin reached its top of $ 20,000, but nothing happened with XRP. Until bitcoin started to sink, that gave XRP breathing space to rise to the highest point ever.

Temper euphoria

You would expect that if a coin has reached the biennial bottom, the rate can only rise. That is of course not a foregone conclusion and Leb Crypto shows that below.

$ XRP in the coming 2 weeks.#xrp #xrpcommunity #fibchannel #stillBearish #reversalEOY? pic.twitter.com/TPMmsw7LWV
– Leb Crypto (@leb_crypto) November 25, 2019

According to the trader, 16 cents is also a possibility for XRP.