Could Ripple See $ 3.30 Again?

BTC's record has served XRP the most.

With the Bitcoin (BTC) price breaking a record, almost the entire cryptocurrency industry has become active. Looking at the crypto currencies in the top 10, it is seen that XRP is the highest with BTC . Behind XRP's rise of 11% in the last 24 hours is Litecoin with 10%, followed by Ethereum with 7% and finally Chainlink with 5%. So, will the XRP price rise continue?

XRP Price Raging

The XRP / USD trading pair has been falling sharply since December 12. It is known that the XRP investor created sales pressure after the airdrop day and the volume increased exactly for this reason. After the XRP price fell below the critical support levels and declined to $ 0.45 today, the Bitcoin miracle occurred.

The leading cryptocurrency's rise from $ 19,500 to $ 20,500 at once and breaking the critical resistance point has also brought dynamism to altcoins. This rise seems to have benefited the most for XRP and enabled it to rise above the critical support. In fact, it is known that there is very low correlation between XRP and BTC, and this spike has certainly surprised many investors.

XRP Climbs to $ 0.52

Looking at XRP technical analysis, it is seen that if the XRP price holds above $ 0.52, it can rise up to $ 0.58. The continuation of $ 0.58, which previously served as an important resistance, is $ 0.65. The XRP price was up to $ 0.77 at the last time it held above $ 0.65.

Could Ripple See $ 3.30 Again?

The fact that Ripple investors have created an increase of approximately $ 2 billion in XRP volume with Bitcoin taking action indicates that the buying pressure will continue for a while. In particular, the slowdown and consolidation of the leading cryptocurrency could create a bull season similar to that of 2017.

It is known that the price of XRP rose up to $ 3.30 in the bull season in 2017. Nevertheless, it is more important than ever to take action in such a lively and tough market. BTC price may fall as sharply as it exits, and XRP and other altcoins may suffer the most from this drop. It is known that the important support point for the XRP price is $ 0.45 and $ 0.32

Ripple (XRP) Price Still Falling Despite 'DeFi' Herald After Airdrop

The decline in XRP price continues.

The price of XRP , the third largest cryptocurrency by total market cap , continues to decline. XRP, which was traded at $ 0.66 a few weeks ago, and $ 0.77 at the beginning of the month, is now down to $ 0.45, which reduces hopes.

New developments for XRP are not over

The steps taken from the Ripple front and the Flare Network airdrop program were actually seen as promising developments. It is known that the main reason behind the XRP price rising from $ 0.30 to $ 0.77 is the Flare Network airdrop program. However, the expected December 12 date for the airdrop tumbled XRP down the abyss.

One detail that XRP investors have missed or ignored is that the uptrend may continue in the long term. Flare Network actually aims not only to airdrop within the scope of this partnership, but also to bring XRP into the DeFi ecosystem. For now, it is a known fact that the DeFi ecosystem has become a dominant Ethereum.

XRP Enters the DeFi Industry

The Flare Network team, on the other hand, wants to bring XRP into this ecosystem by using Ethereum's virtual machine EVM. For now, only images of the balances have been received in the airdrop name and the token distribution has not started yet. However, more important news is that XRP has the possibility to enter the DeFi sector.

The project, which aims to introduce the XRP network to the DeFi ecosystem using the Ethereum network-based FLR cryptocurrency and EVM, will begin development in 2021. In other words, although the price is currently experiencing a sharp decline, the positive developments from the Flare front in 3 to 6 months have the chance to change many things.

Flare Network Not Ready Yet

XRP investors have to wait for the launch of the main network of the Flare Network in order to receive FLR tokens from the airdrop. For only 15%, the mainnet has to be released and the remaining distribution schedule has not been published. The XRP / USD pair, on the other hand, continues to decline and dropped to $ 0.44 last night, below the critical support.

For the XRP / USD trading pair to return to critical levels, it must remain above $ 0.50. The current decline seems to be due to the panic of individual investors.

What Do Experts Think About XRP Price?

 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.