XRP Has Been Hurt Hard Again By This Drop: What Do Experts Think About XRP Price?The fall of BTC has affected XRP as well: what is the next target according to analysts?
One of the known sharp drops in the Bitcoin (BTC) price seen in every bull season was last night. In fact, BTC, which lost $ 1,000 in value during the day on December 1 and increased to $ 19,000 again, then dropped to $ 18,000 at night. This decline most XRP and ETH struck Altcom like.
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📌XRP Price Also Hits Hard
📌Bitcoin Quite Volatile
📌"Looking Forward From XRP In The Long Term"
XRP Price Also Hits Hard
While the total market value of XRP has declined to the level of 27 billion, it is seen that the price has lost nearly 10% during the day. XRP, which reached the level of $ 0.67 , is striving to stay above the $ 0.60 support as of the time of this writing. What are the next target or targets of XRP, which has been moving between the band of 0.602 and 0.61187 in the past 24 hours?
In fact, the XRP / USD pair seems to be 81% behind the all-time high of $ 3.29. It may not be too late for this record, which was broken on January 4, 2018. In the bull market that started in 2017, Bitcoin's movements dominated the market in December, while the rally of altcoins such as XRP and ETH started 1-2 months later.
Bitcoin Quite Volatile
Indeed, Bitcoin is very volatile at the moment, and it is constantly falling and rising. Quantum Economics analyst Charles Bovaird said in a statement on the issue that after the BTC price broke the all-time record, strong sales were seen and the volume started to increase.
In other words, this rise in the Bitcoin price was a negative development, not a positive one as thought. Arcane Assets executive Eric Wall said in a statement about XRP and BTC prices that not knowing when Bitcoin will experience a sharp decline caused panic in investors. According to the analyst, investors are very close to emotional decision making right now, and this is a very risky move.
"Looking Forward From XRP In The Long Term"
Tim Rainey, on the other hand, stated that temporary lows will occur in the near term, but he is still expecting a rise in the long term. According to Rainey, the expected altcoin bull for XRP and other altcoins has not started yet, and this is pretty close to come. The activation of Ethereum 2.0 without any problems is also seen as one of the important reasons that can contribute to the altcoin bull.
Breaking the $ 0.77 target of XRP from the previous rally will create a new target.
