$XRP XRP price is at risk of collapsing by 50%, here’s why
It’s an exciting weekend for crypto enthusiasts, especially for those closely watching XRP. There was an update regarding Ripple's status with the SEC, and while it’s not terrible news, it’s not great either. According to an analyst, XRP is currently trading at around $2.43 - but the situation feels a bit concerning. Over the past three days, XRP has tried to break through the key resistance level at $2.62, but has failed each time. This is not a good sign because if buyers and large investors (like institutions) were strong in the market, XRP should have easily surpassed this point. Worse yet, instead of rising, the price actually dropped below $2.50 yesterday. At this stage, the market tends to be a bit more bullish. According to the analysis, for XRP to look positive again, it needs to get back above $2.50 - ideally retreating to $2.62 with strong buying support. If XRP continues to stay above $2.30, things are still under control. But if it falls below this level, traders should be ready for the price to drop to $2.00. That’s why the $2.30 support level is extremely important right now. Be prepared for all possibilities. Despite these short-term concerns, the long-term outlook for XRP remains positive. Many still believe that XRP can reach $10 by mid-2016 and even dream of a price of $100 in the next five to ten years. But the road won’t be smooth. The crypto market is unpredictable. Prices can rise or crash without warning, and history shows that bull runs can be short-lived. While some believe the bull market may have already ended after Bitcoin touched $110,000 and that Altcoins had their moments, others remain optimistic.
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