Is XRP Dead? XRP’s Poor Performance Over The Last Few Weeks Make People Anxious

Ripple is one of the FinTech companies that intend to revolutionize the traditional financial world. As Brad Garlinghouse has said several times, Ripple intends to take over from SWIFT, the traditional cross-border remittance facilitator that has been in existence for more than 43 years. So far, the technology has proven more efficient than SWIFT’s technology. In collaboration with Canada, Singapore’s MAS launched a platform for payments and completed its first transaction yesterday.

The speed and efficiency of this platform along with the poor performance of XRP moved an official at the FinTech, Sopnendu Mohanty to make this comment;

“We don’t see much in the Ripple bank digital currency, but still much hope that we can remove a lot of inefficiencies […] when it comes to cross-border payments.”

If other executives feel the same way, XRP and Ripple may have difficulty dominating the traditional cross-border payment sector. Banks are already starting to create their own internal settlement systems to serve the same functions as XRP. RippleNet has a group of over 200 financial institutions but most of these institutions are using xCurrent which doesn’t require the XRP token.

Ripple XRP Price Prediction 2019

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.198761
-1.38%

Right now, XRP is the worst performer among the top five coins. Out of the top 100, the only coin that is doing worse than XRP is Tether (USDT). Yesterday, while other cryptocurrencies where recording significant gains against the USD, XRP was only able to rise by 1.3% against the USD. While the XRP token is bullish long-term, the short-term trend is bearish. It is important that the price of XRP shows some promise short-term so that every digital asset investor on the XRP rich list would be comfortable about their investments and would not start selling off.

Before the end of the weekend, the price of XRP may fall below the support at $0.3000 again as it did during the week. The last thing the XRP prediction 2019 needs is more negative comments from industry leaders. Source: Smartereum

Ripple XRP Price Analysis

Is XRP dead? This has become one of the most popular questions in the cryptocurrency space along with others like ‘is XRP a security’, ‘why is XRP falling’, ‘will XRP recover’? People are asking questions like these because the current XRP price action is discouraging.

For almost one month, the price of XRP was stuck in a descending trendline. Even when the price of Bitcoin and altcoins was surging against the USD, XRP was reporting little to gains. The XRP price prediction 2019 which was initially bullish suddenly became bearish.

According to the latest XRP price analysis on cryptopolitan; XRP and was being traded at around zero point zero nine dollars ($0.097). XRP has resistance levels at zero points three, four and five dollars ($0.37, $0.45 and $0.51) whereas the support levels are stable at zero point two dollars ($0.29).

The one-day XRP charts indicate that green closing bars that make the crypto community anticipate an increase in market momentum for XRP. The CMF indicated the opposite and predicted a decrease in market momentum for XRP. Ripple price has been shaky in the past few weeks but the currency is slowly gaining its momentum back. However, the XRP price may still take a while getting there, slow and steady.

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Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.