XRP Next Price Level Could be Below $0.20

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Rip­ple is down by 2 per cent in the ear­ly hours of today’s trad­ing ses­sion. The drop comes after yesterday’s strong push to the upside that result­ed in a 6 per cent price increase for the cryp­tocur­ren­cy. How­ev­er, look­ing at the big­ger trend, the Rip­ple price has been aggres­sive­ly bear­ish for weeks.

This month, the cryp­tocur­ren­cy has dropped 24 per cent extend­ing the 27 per cent drop in May and the 28 per cent drop in April. The drop in Rip­ple price in the past few months has fol­lowed the wider cryp­tocur­ren­cy indus­try which has been aggres­sive­ly bear­ish. In June, the bear­ish trend has become more aggres­sive due to the cur­rent eco­nom­ic fac­tors such as tur­bu­lence in the finan­cial mar­kets, infla­tion, and ris­ing inter­est rates.

This has caused most investors to become cau­tious and sell off their cryp­tocur­ren­cy invest­ments. There have also been reces­sion fears in recent months, which has also con­tributed to the cur­rent drop in the cryp­tocur­ren­cy industry.

Ripple Price Prediction

The most recent Rip­ple price falls have been fueled main­ly by cur­rent events such as the glob­al eco­nom­ic out­look and Fed actions. There­fore, with no signs of an improv­ing econ­o­my, there is a high like­li­hood that we will see a con­tin­ued drop in rip­ple prices.

In today’s trad­ing ses­sion, the cryp­to is down by 3 per cent. The drop is a resump­tion of a long-term bear­ish trend that has per­sist­ed for weeks and result­ed in a 24 per cent price drop in June. Cur­rent­ly trad­ing at $0.31, I expect the cur­rent bear­ish push to con­tin­ue part­ly due to the cur­rent eco­nom­ic fac­tors such as infla­tion, tur­bu­lence in the finan­cial mar­ket, and ris­ing Fed rates.

There is a high like­li­hood that we will see the prices of Rip­ple trad­ing below the $0.20 price lev­el in the next few trad­ing ses­sions. How­ev­er, should the cur­rent eco­nom­ic out­look improve, then my bear­ish trend analy­sis will be inval­i­dat­ed. The improve­ment will also trig­ger anoth­er bull run for the cryp­tocur­ren­cy indus­try, which will see the price of Rip­ple rise.

Ripple Daily Chart



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