XRP is a native coin of Ripple. From its inception in 2013 to the beginning of 2017, the price of XRP couldn’t cross $0.02. In 2017, due to the overall growth of the crypto market, the price of XRP coin increased to $0.2, and by the end of the year, the price of XRP was $3.3. In 2018, the price of XRP fell again to the level of $0.27-0.30. Even after the end of the crypto-winter, the price of XRP showed no significant growth.
As the company is developing and expanding its spheres, enlisting the support of the large financial institutions, and continuously improving the technology of transfers, we can say that there is a chance of growth. Most of the analysts believe that the current freeze in the price is only the calm before the storm before the explosive growth in the price of XRP is seen.
There are several factors that will determine the price of XRP in the future. First is the mood of the market that Bitcoin will set, the steps that Ripple owners will take, and the interest of the community fuelled by the news. All the technical indicators suggest that it is the right time to buy XRP.
Ripple Fundamental Analysis
Traditional payment channels can take up to 5 business days to make the transactions successful. Ripple offers a solution to this problem. Another thing with the traditional payment means is the high commissions. The more the number of intermediaries, the higher is the fee that you pay. XRP is a digital token for instant payments. Ripple has built a decentralized network called RippleNet that can send and settle international payments in a cost-effective and timely manner. RippleNet is active in more than 35 countries, and it provides a reliable, faster, and cheaper payment experience for customers all over the world.
Ripple has built products that work together seamlessly by using its XRP tokens. xVia, xRapid, and xCurrent all work together to improve the payment experience. xVia enables users to use one standard connection to get all the benefits of RippleNet. xCurrent allows the users to get rid of the need for the FTP server. xRapid enables the movement of money on-demand using XRP in that country, making the payout instantly.
XRP price plunged below $0.20 and, after that, renewed its bullish momentum. The dip was as low as $0.1850, but the buyers kept on buying Ripple, which pulled XRP above $0.19. However, the currency lost its upside momentum, and the price of Ripple rested below $0.19.
Currently, XRP/USD is trading below $0.19 and is facing the selling pressure at 50 SMA. The push of 100 SMA will make a recovery difficult at this price. Ripple’s immediate downside is to hold in position as holding above this position is vital to ensure that decline does not continue in the future.
The technical picture of the Ripple shows sideways trading action. The RSI has slowed the recovery from the dip. Recovery above 50 can encourage more buyers to buy XRP.