The Ripple Drop: Predictions for 2020
Updated
PrimeXBT calls your attention to a technical analysis overview of XRP/USD.
Fundamental Analysis and News:
Ripple's Predictions for the Industry in 2020 and Beyond:
As we stand on the doorstep of a new year and a new decade, Ripple's executive team shared their predictions of what’s in store for the industry.
“I think you’re going to continue to see consolidation, you don’t need 3000 plus cryptocurrencies out there,” said Brad Garlinghouse, the CEO and Founder of Ripple. “I think the utility will bear out where you will see a migration to quality if you will. Technologies and cryptocurrencies that can scale with market demand with real use cases.”
Technical Analysis:
Ripple's price is still struggling to move above the $0.2000 level and all its recent attempts to rally have so far failed. The price is now approaching a key support area.
If XRP manages to surge above $0.2000, it may visit its resistance levels at $0.2140 and $0.2300.
On the downside, a decisive break below the $0.1850 level is needed for the bears to gain strength. The next major support zone is seen near $0.1800 - 0.1795.
In the near term, the Relative Strength Index on the XRPUSD chart may flash some bullish signs if XRPUSD declines to this support zone.
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We appreciate the continued support that PrimeXBT has received from readers and traders like you, and hope you have great success with all your future trades!
Fundamental Analysis and News:
Ripple's Predictions for the Industry in 2020 and Beyond:
As we stand on the doorstep of a new year and a new decade, Ripple's executive team shared their predictions of what’s in store for the industry.
“I think you’re going to continue to see consolidation, you don’t need 3000 plus cryptocurrencies out there,” said Brad Garlinghouse, the CEO and Founder of Ripple. “I think the utility will bear out where you will see a migration to quality if you will. Technologies and cryptocurrencies that can scale with market demand with real use cases.”
Technical Analysis:
Ripple's price is still struggling to move above the $0.2000 level and all its recent attempts to rally have so far failed. The price is now approaching a key support area.
If XRP manages to surge above $0.2000, it may visit its resistance levels at $0.2140 and $0.2300.
On the downside, a decisive break below the $0.1850 level is needed for the bears to gain strength. The next major support zone is seen near $0.1800 - 0.1795.
In the near term, the Relative Strength Index on the XRPUSD chart may flash some bullish signs if XRPUSD declines to this support zone.
- Local Support Level: $0.1900
- Local Resistance Level: $0.1957
- Support Zone: $0.1850
- Resistance Zone: $0.1990 - 0.2025
- Market Cap: $8 175 776 491 USD
- Volume (24h): $1 103 740 007 USD
- Circulating Supply: 43 337 903 409 XRP
The best way to get consistent quality analysis is to follow us. We’ll ensure that you don’t miss a thing!
We appreciate the continued support that PrimeXBT has received from readers and traders like you, and hope you have great success with all your future trades!
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Ripple (XRP) Price Likely to Hit Next Mid-Term Target
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