XRP Long-Term Buy Range Is Approaching
Ripple had a great year, marking all kinds of achievements such as valuable partnerships and increased interest in the crypto space and not only for its products.
The San Francisco-based company made massive efforts to boost the XRP ecosystem and to trigger the adoption of XRP.
The only thing that was not that spectacular is the price of the digital asset which seemed to refuse to mirror the achievements shown by Ripple and XRP as well.
The price of XRP was in deep-red territory these days, and the whole crypto market was bathing in red.
The Daily Hodl online magazine offered the opinions of seven crypto analysts who present potential reasons for this fall and predict where will BTC head next.
None of them say that this is the bottom.
Today, things have changed and the most important digital assets are eventually trading in the green at the moment of writing this article.
XRP is reportedly approaching a new level of support
Crypto analyst DonAlt told his followers on Twitter that XRP is now approaching a new level of support that is dating back in October 2018.
$0.30 was quite important, let's hope $0.19 will be as well.
The price action on XRPUSD is uncannily technical. pic.twitter.com/gJyzZeRYbm
— DonAlt (@CryptoDonAlt) November 22, 2019
“$0.30 was quite important, let’s hope $0.19 will be as well. The price action on XRPUSD is uncannily technical.”
XRP could find more buyers once it falls below $0.20
Meanwhile, a fellow analyst known in the industry known in the industry as Haraldo says XRP may begin to find buyers if and when it dips below $0.20.
I think people who are interested in margin trading $XRP wanted to get in at prices in the region of $0.33c but didnt get chance, those who want to buy XRP tokens for long term are looking at the 16-20c range. And Bitcoin has a short $4.8k target x
— Harry (@HaraldoXRP) November 24, 2019
The analyst says traders interested in holding XRP for the long term may be targeting an entry at the $0.16 level.
“I think people who are interested in margin trading XRP wanted to get in at prices in the region of $0.33c but didn’t get chance. Those who want to buy XRP tokens for the long term are looking at the 16-20c range. And Bitcoin has a short $4.8k target x.”
At the moment of writing this article, XRP is trading in the green and the coin is priced at $0.219759.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.