Price AnalysisRipple

XRP Price Outlook Looks Grim for Now! Bearish Sentiment Looms Ripple

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Ripple was trading at $0.6202 this morning, up 0.11 percent from yesterday. Yesterday’s volume was up 10.46 percent from the day before. This indicates that the price increase occurred on a higher volume.

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XRP Price is approaching its 20-day moving averages, which could act as a price barrier. Moving averages, particularly the 100 SMA, are also keeping the XRP coin down on the H4 chart. Early in June, this moving average became resistant, and it continues to push the highs lower despite every attempt to reverse the price higher. 

Ripple’s volatility has been decreasing during the last two weeks compared to the previous month. It will be interesting to see if volatility reverts. Trend traders will want to keep an eye on the 90-day horizon for the strongest trend; during that time frame, the price will rise the most.

Ripple’s sentiment is still very pessimistic, even more so than other cryptocurrencies. China’s assault on cryptocurrencies continues, with the country blocking new Bitcoin mining, keeping market sentiment gloomy.

On the brighter side, some XRP hodlers are bullish as ever. The belief that XRP will eventually skyrocket given its rocky history with price keeps their spirits high.

 Here are some exhibits.

As for the Ripple Vs SEC lawsuit –  According to a court filing issued last Friday, the deposition of William Hinman, the SEC’s former director of Division of Corporation Finance, has been rescheduled for July 19. Ripple wants the SEC to explain why XRP is being treated differently than other cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH)

At the time of writing, XRP is trading at $0.606 up by 1.3% in the last hour.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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