$ 1,177.97 3.46%
$ 37.54 6.19%
$ 0.069742 7.56%
$ 4.90 0.07%
$ 20,669.00 2.23%
$ 232.75 1.52%

Analysis: Ripple has been in the reds and it may fall further

ripple analysis price may gown further

Ripple (XRP) is seeing a rapidly declining price action as its price has fallen by more than 2%. The price fell from $0.4 all the way to $0.25. Experts expressed that the price may go down further as the price action has formed a consolidation block which is often followed by a rapid decline.

Ripple has been in the reds since November 7th. Today the crypto had its third consecutive day in the bear market. The token has fallen from two areas of support initially $0.5 the from $0.4 to the current $0.25, and this suggests that the price may continue to fall even now.

XRP enthusiasts believed that the launch of xRapid would bring rise to the price of the token. However, that was not the case as the price continued to fall. This confused a lot of users.

The reason can be seen if you dig deeper into XRP’s partnerships. Although XRP has partnered with a huge number of well-esteemed institutions, it still has not seen much growth. It is mainly because much of its partners are yet to adopt xRapid.

Moreover, Bill Clinton did speak in favor of the crypto yet critics believe that the speech was not inspiring enough as the topic was the future of cryptos while Bill did not mention anything about the tokens’ future.

XRP enthusiasts still believe that this is only a small setback and that the crypto is bound to grow in the future. This may be true considering the number of banks and other institutions that have been and are continuing to partner up with the token.

Marko Tee

Marko Tee

Contributor and news writer for Marko has 4+ years of experience as a journalist and covered cryptocurrency and blockchain technology. He has years of experience writing about tech news and innovation.

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