Ripple’s Cryptocurrency Token Plunges Under $0.30 XRP/USD as Investors’ Worry Starts to Creep In
XRP, one of the largest digital currencies in the market, has fallen under $0.3 a very important region for the digital currency.
In terms of Bitcoin (BTC), XRP has fallen to the lowest point since September 2018. Investors are currently worried about the future of the coin and the new competitors that it has in the market.
When Will XRP Start Growing Again?
XRP has been in a bear trend since January 2018 and it has not recovered since then. At that time, XRP reached $3.79 when the market was expanding and reaching its all-time high. During the last months, XRP has been operating stably close to $0.33. However, the whole cryptocurrency market has been expanding since February while XRP is stagnating.
A few days ago, XRP fell under $0.3 for the first time in several months. Although the crypto market fell a few days ago, XRP does not seem with enough strength to start moving out from its bottom.
Although most of the virtual currencies bottomed in December 2018, XRP found its lowest price in September, close to $0.258. Now it is currently being traded just 14.7% from that price. Peter Brandt, a recognized trader, has shared a chart about XRP and what traders can expect for the future. He said that this is a “do or die time for XRP bag holders.”
— Peter Brandt (@PeterLBrandt) April 27, 2019
Peter Brandt has also talked about how XRP price is currently being manipulated. He explained that manipulators are finding support at a fixed level and that are forced to lower their selling price as time goes on. If support gives away: “desperation will ensue.”
At the time of writing this article, XRP is being traded around $0.2969 and it has a market capitalization of $12.47 billion.