In recent time, Ripple has been on a disappointing roller-coaster discouraging XRP holders as well as the crypto community with its dismal market performance. Ripple (XRP)’s market performance has been nothing but disappointing in all levels in recent time: instead of bypassing the 0.3 US dollar level, the crypto asset seems to be on a downward trend, hitting its lowest market price in the recent few days. Yes, it has jumped rather nicely today.
Now the question a lot of crypto pundits are asking is whether the crypt asset is going to continue with the negative onslaught or is it going to recover? Is it a good time to buy Ripple (XRP)? Should traders wait a bit to purchase the crypto coin? At present, there is a lot of anxiety going around the crypto community in regards to Ripple’s XRP.
According to information available on our desk, Ripple’s default currency, XRP, is down almost 90 percent against Bitcoin from where it was last year at the same time. Except for making a substantial price improvement over the previous 24 hours, Ripple’s XRP has been struggling mightily over the previous seven days.
This article is going to try and shed some light on what to expect at the price of the number three ranked cryptocurrency. And then you can evaluate yourself if the claim made by the crypto analyst in question is correct or not.
Ripple (XRP) Price Prediction Indicates a Bullish Bat is in Formation
According to Ripple (XRP)’s price chart, the crypto’s short term 1-hour chart indicates the formation of a bullish BAT after the creation of a bullish shark pattern was witnessed in the XRP/USD price line.
On careful review of XRP’s price pattern, the price chart indicates Ripple’s last leg will be reviewed from 0.786 to 0.89 Fibonacci retracement level. The current price movement of native cryptocurrency of Ripple suggests that the crypto asset will soon enter into the potential reversal zone.
According to our analysis, the potential reversal zone (PRZ) should be utilized as a stop-loss point in an event a complete candlestick closes below the current market price zone.
Therefore, our price analysis is as follows:
Traders and investors should consider buying Ripple (XRP) between the price level of 0.2558 to the price range of 0.24098. Also, investors and crypto traders should consider selling XRP tokens when it is ranging between the 0.23710 and 0.24357 US dollar price range.
At the moment, crypto traders and investors might have problems profiting from the crypto asset, but our analysis indicates that October is going to be the month of reaping good profits. Today being the last day of September, we predict that native Ripple cryptocurrency is going to get stable at 0.25 US dollar price mark.
Fear and Greed Index
The fear and greed index exposes investor and trader sentiments in the crypto market, showing their true feelings towards their favorite crypto assets. The fear and greed index examine five sources of information and execute it to its algorithmic system that gives out a human-understandable value.
The value sprouted by the system shows the actual attitudes of investors in the crypto market. The five sources of information that are used to feed the system are social media, volatility, market trend and market volume, dominance, and momentum.
At present, the fear and greed index chart for Ripple (XRP) shows the market is in a bit of fearful mode right now despite the market’s effort to rise above the current slump.
The overall market capitalization is still on the safe side hovering around the Fib382 level that acts as a support level.
Negativity Growing Among Ripple Traders and Investors
A gloomy atmosphere mixed with frustration is tangible among Ripple XRP followers. People are pointing at each other, rejecting Ripple’s positive strides that the crypto company is currently undertaking, resulting in total mayhem.
Yesterday, a renowned crypto analyst, Moon Overload, who goes by his Twitter name @MoonOverload took to their social media platform to express their dissatisfaction and distress towards Ripple’s XRP. Moon Overload tweeted on his Twitter page:
“Come on Ripple XRP. You pile of crap.”
Despite the negative market trend lately, the native Ripple cryptocurrency is expected to bounce back in the crypto market. Traders and investors should stay put.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.