Ripple (XRP) Might be in for Another Decline Before Rising Again
BARCELONA, Spain – Ripple continues to have declined, as shown by several technical indicators and candlestick charts. Although, it appears that another decline might be the last for the altcoin as experts predict that Ripple will soon hit the $0.50 levels again. Does that mean that now is the best time to buy XRP? The answer lies in whether you are a bear – trying to push the price further down – or a bull – trying to push the price further up.
Since the beginning of April, XRP has struggled to maintain a steady price due to many factors, but primarily because of the nature of the cryptocurrency industry. That is, it is highly volatile. It is not only Ripple that is experiencing this crisis, but the entire cryptocurrency market. These past few months have been solid proof of how wild the industry can become.
Experts believe that Ripple is on its way to getting back up again, though. According to their predictions, Ripple will be in for another dive before hitting the shore, possibly hitting the $0.30 levels. At present, the altcoin is trading at $0.41, and in a few days, it might go as low as $0.30 before possibly rallying up to $0.50.
Experts and analysts stated that Ripple has been faithful to their predictions. If it continues to be the case, investors might experience a possible 20% gain in the future as the trend reverses.
However, if Ripple surpasses the $0.44 level, you can invalidate this bearish theory, and experts would need to go back and try to see how the altcoin will behave based on new patterns.
Experts have also noted some impulsive waves emerging from the charts as XRP demands equilibrium and proportion, which the bulls have been trying to gain despite the efforts of the bear to pull the price down. Nonetheless, investors and traders are warned about a possible dip.
