To issue an XRP price prediction for July 2020, we will be taking a look at the historical price data and market sentiment for Ripple.
The Ripple blockchain makes use of XRP, its native crypto, to facilitate fast transactions and to power its payment technologies.
The crypto currently sits at 4th position based on a market cap of $8,332,801,661 and has a current trading price of $0.188279, with a decrease of -0.18% in the past 24-hour period. 44,257,803,618 XRP are in circulation on the market at the moment out of a total of 99,990,932,726 XRP. In the past 24 hours, a $1,124,114,339 trading volume was recorded for XRP.
Ripple (XRP) Price Prediction: Analysis
XRP started trading in June at the $0.20 mark and escalated to $0,210731 towards the end of the day. On June 2nd, XRP peaked at $0,214335 but then corrected itself to $0,200696. Up until June 11th, XRP formed a consolidation pattern, trading tightly between $0.20 and $0.21.
On June 11th, the Ripple price saw a sharp decline from the crucial $0.2000 support. The XRP/USD pair went below the key $0.1950 support level and moved into a bearish zone, and it reached a low of $0,1844 before it started an upside correction. The coin experienced a recovery back to $0,190180 by the end of the day.
On June 12th, XRP reached $0,196277 but failed to maintain these gains and feel down to $0,193943. In the next few days, XRP faced resistance at the $0.1940 price and traded mostly around $0.1930.
The $0.1845 level is the immediate support, and XRP could plummet if it goes below that value. But the price might also trigger a recovery to the $0.1900 level. The first key resistance is near the $0.191 level.
WalletInvestor’s pivot, resistance, and support levels for XRP are:
- Resistance Level (R3): 0.196
- Resistance Level (R2): 0.195
- Resistance Level (R1): 0.193
- Pivot Point: 0.192
- Support Level (S1): 0.191
- Support Level (S2): 0.190
- Support Level (S3): 0.189
A few days ago, Brazilian bank Banco Rendimento became the first financial institution to successfully make the transition to the new RippleNet cloud. Banco Rendimento stated that through its partnership with Ripple, it will open more payment corridors in the near future. No further details have been released. Ripple’s CEO, Brad Garlinghouse, and several other senior executives had a meeting with the Central Bank of Brazil last week.
On June 11, it was announced that Ripple’s financially backed coil will be investing $1 million in a three-year partnership with tech site – Hacker Noon. The collaboration will be about implementing Coil’s web monetization standard to give readers micro-payment rewards for reading content on its platform.
Ripple Price Prediction: Market Opinion for July 2020
Seeing as various crypto sites have made their own XRP price prediction for July 2020, we will be including some of the most important ones below in order to better illustrate the market sentiment for Ripple.
Tradingbeasts foresees that XRP will reach $0.2442152 by the beginning of July 2020. The site calculated a maximum price of $0.3032411 and a minimum price of $0.2062039. The coin is anticipated to close the month at a price of $0.2425929, change for July 30.83%.
Longforecast projected that XRP will start July at $0.18. They anticipated a maximum price of $0.20, a minimum of $0.16, and a monthly average of $0.18. The site calculated that XRP will close the month at a price of $0.17, change for July -5.6%.
Digitalcoinprice’s XRP price prediction for July places the coin at a price of $0.39312779, signifying an increase of 110.83%.
Coinpredictor predicted that XRP will decrease with -10.3% around the start of July, placing the coin at a trading value of $0.260668.
Gov.capital‘s XRP price prediction for July 1st is that Ripple will have a trading price of $0.160, with a maximum price of $0.184 and a minimum price of $0.136. The average price for the last day of the month was estimated at $0.113, with a maximum of $0.12995 and a minimum of $0.09605.
Cryptorating calculated that XRP will begin July with a price of $0.191582, marking an increase of 2.77%.
Cryptoground’s XRP price prediction for July sees the coin trading at $0.2918, which marks a change of 57.93%.
30rates issued an XRP price prediction for every day of July (except weekends), with the minimum, maximum, and closing prices for every day.
Ripple Price Prediction: Verdict
We have reached the end of our Ripple price prediction for July 2020. Can XRP reach $100? From the data we have collected so far in our article, it appears that XRP is expected to remain in a bearish state, but still around current trading levels. We hope that the information proves useful when you decide to create your own XRP trading strategies.
Featured image: BeInCrypto
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