Latest Ripple News – XRP is still the jewel of Ripple, a Silicon Valley-based Fintech company. Unfortunately, the price of XRP coins themselves is not as bright as the level of fame and technological development Ripple has achieved. The forecast for the 2020 Ripple, as predicted by the price in 2019, is that there will be an increase (bullish). Members of the Ripple community have made several predictions about Ripple XRP, but what was most surprising was their hope that the price of the coin would rise to $ 14.
2020 Ripple Price Forecast – An Increase of 6000% – Is It Just a Dream?
According to Ripple XRP price predictions issued by NewsBtc, this coin price chart shows a break of the downward trend that has trapped Ripple since 2018. Currently the chart shows a pattern that could open the way to big profits if this downtrend is broken. An analyst also stated that XRP is the main asset of the Ripple blockchain, this will be the main factor in the increase in the value of this coin. Ripple is one of the important actors as a Fintech company with more than 300 institutions that use the protocol.
Even so, if we are realistic, we all know that Ripple XRP is not a successful asset so far. One of the reasons why Ripple fails in cryptocurrency is because it is too centralized and has more in common with security systems. Even so, the system is applied to banking institutions and has the potential to interfere. This causes XRP to have speculative value. Most people buy XRP not because of current price movements, but because of their confidence in the potential for good prices going forward.
Although this type of large cryptocurrency looks like it wants to end last week calmly, both Ethereum and Ripple experienced a surge and posted strong gains on Sunday (02/02/2020) yesterday. While Bitcoin struggles to gather enough momentum to penetrate its resistance area.
Ripple is the best-performing cryptocurrency at the moment with an increase of up to 6% when it hits $ 0.2565 while adding another 10% at the end of last week. However, the current price increase (bullish) is rather difficult to sustain XRP above $ 0.2326. This is a bad sign that shows that the lack of buyers who are interested in higher prices.
However, we can anticipate a price increase (bullish) to hold this $ 0.2326 support point strong enough, so that when prices soar above this support point then a price increase (bullish) is likely to surge beyond the resistance point at $ 0.25401. If it succeeds in jumping, then there is a possibility for XRP movement towards $ 0.31503. Conversely, if XRP falls below its support point, there will be a possibility of a decline to $ 0.20041.