RATE Group | Ripple’s XRP Falls 11% after Rising 45%; More Declines Coming?
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Ripple’s XRP Falls 11% after Rising 45%; More Declines Coming?

20 Jan Ripple’s XRP Falls 11% after Rising 45%; More Declines Coming?

Posted at 21:28h in Cryptocurrency News by

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XRP has plunged by circa 11 percent after registering superficial gains in the past 30 days.

The Ripple’s native cryptocurrency established an intraday low of $0.224 on Monday as traders preferred to exit their long position on small profits. So it appears, the downside move was more a natural bearish correction, especially after XRP’s monstrous price rally that pushed investors’ gains up by 45 percent.

The move led some analysts to preserve their bullish bias in the cryptocurrency. GalaxyBTC said in a tweet that he expects XRP to retest $0.3 in the coming daily session. Meanwhile, another prominent trader CryptoBull listed a series of technical indicators that envisioned the cryptocurrency in green throughout 2020.

 

XRP Not a Long-term Bet

But not all think the same. Some analysts see XRP’s latest price rally as inorganic, considering how…

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