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XRP Price On a BloodBath – Will Bulls TakeOver?

Highlights

    XRP price plunged below $0.3 after experiencing a small rally a couple of days before

    Many believe the recent surge was influenced by some group of members

    The group also influenced GRT price which rallied %450 in just 2 days

XRP Big Correction on The Way

XRP’s tough days do not seem to pave way for the price to escalate as it has dipped below $0.3 yet again. The XRP price has hit the rock bottom price close to $0.2 following the lawsuit filed by the SEC claiming irregularities in the selling of XRP. 

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Currently, the price is surging above $0.3, therefore, is the current price surge also a result of the manipulation of the same group!

XRP price chart

The above graph clearly showcases some unnatural movements with the XRP price. As the price continued to plunge to the lowest levels, and the selling pressure was mounting, suddenly heavy purchases led to the price jump above $0.37 within a couple of hours. 

Also Read : Is Burning XRP Coins a Better Option Right Now?

On the other hand, considering the volume perspective, the price pump was drastic on 25th December 2020, compared to that of the later one. Despite the volume is more than the first pump, the price surge from just $0.29 to $0.31.

Therefore showcasing a clear sight of manipulation with the XRP price in the virtue of gaining maximum profits in less stipulated time. 

XRP Price Analysis

XRP price currently has gained momentum and on the path towards gaining the lost momentum. No doubt the market sentiments are not so positive, the price is attempting very hard to recover the losses at the earliest.

Currently, at the time of writing, the XRP price is $0.3074 with a drop of 13.36 percent in the last 24 hours and 48.65 percent in the last week. 

According to a crypto analyst, Prime Trader predicted a major correction with the XRP price is incoming which can pullback the price to as low as $0.01.

Collectively, the XRP price is currently the hot topic being looked upon. David Gokhshtein, crypto analysts said that the price will put up some ridiculous numbers in the next few weeks.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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