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Ripple price analysis: XRP price consolidating for bears

ripple price analysis 10 aug

Ripple price analysis this time around is also taking into consideration that Ripple (XRP) has been making some massive moves recently, allowing MoneyGram to xRapid their way around cross border transactions.

The Ripple (XRP) market cap is at thirteen billion dollars (13,084,090,344) at 11:13 UTC. The circulation supply values to forty-two billion ($42,872,646,068) XRP. The coin is among the top five contenders and remains a strong and reliable crypto asset for many institutions.

7-day Ripple price analysis

A seven (7) day Ripple price analysis reveals that XRP may be on its way towards recovery. Recently, Ripple had been showing quite a downward slope on the weekly chart.

Ripple price analysis: XRP price consolidating for bears 1

Ripple price chart by Trading View

With over one percent (1.47%) increase in the coin’s price equal to a pump from $0.311 to $0.315 was registered on August 3. The bullish behaviour continued with relatively small increases in the coin’s prices until sixth (6) August.

XRP had another price increase on August 4, by another one percent (1.38%) the landed it on $0.319 from $0.315.

August 5, the coin takes off to $0.322 from $0.319 causing a 0.45% increase in the price. The price remained stagnant on August 5 at $0.322- this was the closing price for the crypto on the same day.

August 6, XRP goes downhill by three (3.07%) from $0.322 to $0.312. Price reductions on August 7 and August 8 were below the one percent deduction rate. On 7th August, the price went down at 0.35%- from 0.312 to 0.310 while August 8 saw a 0.54% decrease from 0.310 to 0.309.

XRP left the 0.3 dollars territory on the 9th June and today, trades at $0.299, falling from $0.309 to the current value ($0.299) and fluctuating back to $0.309.

The short term investment curve does not show any signs of turnover. However, Long-term investments will bear fruit.

Taha Farooqui

Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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