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Ripple XRP price is set for another bearish movement

Ripple XRP price 28 September 2019

Ripple XRP price movement is not showing any divergence from the current lows of the cryptocurrency market; however, short term bullish runs are evident on all crypto charts.

During the onset of September, Ripple’s cryptocurrency XRP was at its peak due to the bullish trend at $0.32. Soon after, a bearish wind crept through the market, causing the price of XRP drop by twelve percent (12%) to $0.2413 within an hour.

Ripple XRP price chart 1Ripple XRP price chart by Trading View

In retrospect, the third-largest coin in the market capped at around ten and a half billion dollars ($10.46b) with a trading volume to be around one billion dollars ($1.16b).

Ripple XRP price had a growth of a little less than one percent in the last day subsequent to a seventeen percent (17.19%) within the last week. This continuous to and fro movement may be a factor of XRP not being in a linear pattern of progress in the long run.

Ripple XRP price movement: What to expect?

If we view the chart for the estimated trend of XRP, it suggests a triangle that is declining. Even though the initial stages show a bullish trend, in the long run, it is expected to be in a bearish bridged pattern ranging from a little over and under half a dollar; i.e., $0.4147, $0.43789 and $0.7536. According to predictions, a decline in the XRP price is unavoidable, and the support would lie at $0.242.

Ripple XRP price chart 28 September 2019Ripple XRP price chart by Trading View

The current average suggests a bullish market which could mean that there could be a slight boost or increase in XRP price. However, it would not be unanticipated if the trend reversed since the Moving Average Convergence Divergence (MACD) line does indicate the possibility of a bearish market.

Conclusively, the long-term trend for XRP may form a bearish form. On the other hand, if the entire market goes up during a bearish season, XRP may also go up only to come back to the original predicted falling XRP trend.

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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