Ripple Price Dips to $0.681 after 2.8% fall – How to Buy XRP

Ripple CEO Comes Back at Mike Novogratz, Calls XRP an Outperformer Compared to Bitcoin
Ripple CEO Comes Back at Mike Novogratz, Calls XRP an Outperformer Compared to Bitcoin

Ripple’s price trend this year has been phenomenal. Ever since its price dipped to around $0.21 at the beginning of the year because of the SEC lawsuit, XRP managed to rise again and almost clinched $2 before the market crash in May happened. Since then, Ripple has been consolidating, trying to reach $1 and maybe $2 before the end of the year.

XRP is trading at $0.681 on major exchanges at the time of writing after a 2.8% dip in 24 hours.

XRP Price Analysis

XRP Price Analysis
Source: TradingView

Ripple’s price is consolidating at a bearish zone after the $0.70 resistance level was rejected. This led to a downtrend to the current levels, but XRP still shows the resilience of reaching $0.70 again. Maintaining $0.70 and above will be great for Ripple in retracing the $1 value.

However, the current bears show that XRP may be pushing towards a downtrend, where we might see prices stabilizing at around $0.65 or $0.60. XRP has been trading between $0.65 and $0.69 in the past week; hence, the current price indicates relatively low volatility.

Strong bears will come into play when XRP moves to $0.50 levels. Here, short-term traders might jump in to buy in the dip, and if there is no market support, we might witness a retreat to even lower levels.

The popularity of XRP is higher than it was some years back. What is now the ‘cryptocurrency trial of the century’ is boosting the popularity of Ripple and XRP and while fluctuations are happening with every new development, there is no denying that almost every new person researching about the crypto market now knows about XRP.

Weeks back, the crypto community speculated that the former SEC official whom Ripple subpoenaed was Jay Clayton, but now it has been revealed that it is former executive William Hinman. Hinman is an exciting witness for Ripple, given that before the lawsuit was filed, he had made a public speech saying that ‘Ether is not a security.’

If Ripple’s motion to have Hinman testify is approved, it will be a big win for Ripple and XRP holders.

Where to Buy Ripple

For those who want to buy XRP during the current dip, the best place to check is on a cryptocurrency exchange. One of the most reliable exchanges for crypto trading is eToro. eToro is available in many countries and supports a majority of the popular cryptocurrencies. Besides, eToro is among the few exchanges that allow copy trading so that new traders can learn from experienced traders.

Looking to buy or trade Ripple (XRP) now? Invest at eToro!

75% of retail investor accounts lose money when trading CFDs with this provide.

Remember, all trading carries risk. Past performance is no guarantee of future results.

A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.