XRP is the cryptocurrency used by the Ripple payment network. Previously, the coins have shown really good performance and they were able to achieve a relatively stronger position on the trading chart but the latest news is not so good.
But, recently the trading session has revealed that in comparison with US dollars the value of XRP is constantly declining. The value of XRP is trading between the range of $0.35 and $0.30 mark. A short depreciation was witnessed on April 24 but it got better after some time.
XRP trading chart has shown the ranges of distribution areas as $0.45, $0.50, $0.55 and the accumulation points are found to be in the areas of $0.25, $0.20, $0.15. The average of 50 days trading has pointed out that it was located over 14 day average within the range.
Ripple XRP chart by Trading View
Also, the momentum indicator that compares the closing price of a security with the range of prices over time has shown that the XRP is in the range of 20.
All the interpretations and analysis of the XRP has revealed no positive prediction. And it is speculated that the price will depreciate further in the near future.
The low price always favors the buyers and for them, it is the right time to buy these coins. The investors can buy, but the traders have to show certain patience and resilience as this is not the right time for them to sell.
Therefore, they have to wait for the appropriate time and the right time will be when the prices will increase. Any decision should be made on rational grounds by close analysis of the trend.
