The price movement of most of the coins in the crypto market has been volatile since the end of June due to bears taking over the market. There were small intermittent bull phases, but the prices of most altcoins have mostly been in the lower range. Ripple has also had a lot of price variations with the prices ranging in the range of $0.249 – $0.279 during the past five days.
XRP Price Analysis and Forecast
XRP price has been moving around with a lot of price variations from last week. There was a bullish moment on Aug 26 when the price of XRP was as high as $0.027918. But then the bears again made their presence felt with the prices taking a tumble to $0.24915 on Aug 28 to the extent of 10.82%. However, on the same day, the prices recovered to the extent of $0.25710 to the tune of 3.06%. On Aug 29, the prices of XRP fell to $0.2495 to the extent of 3.09%. On the same day, XRP price rallied back to $0.2616 to the extent of 4.81%. On Aug 30, Ripple price had again taken a fall at $0.2532 to the tune of 3.23%. Today, the price of Ripple stands at $0.2570, which is higher by 1.5%. The trend indicates that the bears have again taken over the crypto market.
Ripple is a coin with significant future potential. Integrity is one of the plus points of XRP coin, and this should make it a most viable project going forward. Though the prices have rallied in the downward range under bear pressure, this is a temporary phase. The bear trend was expected to be short-term, but the market is still volatile. So, the next few days could be the decider for XRP though the medium-term outlook is expected to be bullish.
Existing investors should hold on to their investments. New investors should invest in small amounts as the market is expected to be volatile during the short-term.