Ripple (XRP) came out once again, for the third time since the beginning of the bear market. In light of other overbought conditions for XRP / USD, this is a strong signal that Ripple (XRP) is prepared for further disadvantages. The price could check the annual minimum to say the least. There is a strong possibility that the price may end up falling even lower than the annual minimum of Ripple (XRP) of August 2018. XRP / USD is currently trading in a downward channel that runs until January 2018 when Ripple (XRP) entered the bear market. At each stage, we have seen a previous resistance line turn into a support line. If the same thing happens again, we would see the support of finding prices at the top of the current resistance that has transformed the support line that extends to April 2019.
If the XRP / USD declines the same way it was before when it was exceeded, we might expect the price to fall below $ 0.25 in the coming weeks. This correction would allow the overbought market conditions to return to normal. At the end of this correction, Ripple (XRP) will also be better positioned to exit the descending channel. Ripple fundamentals (XRP) appear promising than ever and a lot of big financial companies are joining Ripple (XRP). In addition to this, a large segment of the crypto community prefers Ripple (XRP) compared to Bitcoin (BTC). No matter what happens to Bitcoin (BTC) or the rest of the cryptocurrency market, these investors are determined to keep Ripple alive (XRP). It makes all sorts of sense that they would like to do it because Ripple (XRP) is one of the few cryptocurrencies in the market that is solving the problems of the real world.
Chart for XRP / BTC (1D)
The cryptocurrency market is teeming with new currencies that address a particular niche without having anything precious to add. For example, there are hundreds of sports coins or game coins that do nothing but serve as alternative payment methods. So, for example, if a game like Fortnite or Dota 2 starts accepting cryptocurrencies, do you think people will choose to pay in XRP or some coins in the game that could lose much of its value in a pump and a landfill? The answer is obvious. Ripple (XRP) is very likely to become the Paypal, Visa and Mastercard of digital commerce in the coming years.
It may take some time before Ripple (XRP) is used by employers to pay for their employees, but online vendors who look for a stable cryptocurrency that can alleviate the pile of problems arising from & # 39; using Paypal, Visa or Mastercard will accept payment in XRP in the blink of an eye as more and more people start using Ripple (XRP). Ripple (XRP) is fast, stable, secure and economical which makes it a better choice than Bitcoin (BTC) for online transactions. Ripple (XRP) may be overbought in the short term and is expected to correct a bit, but it has a very bright and promising future that investors must remain focused on.