Based

bullish

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Recent CoinMarketCap&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">data</a> reveals that&nbsp;<a href="https://u.today/xrp-prediction-for-august-21" rel="noopener noreferrer nofollow">XRP</a> has returned to the red zone. This unusual bearish trend comes amid gradual improvement in the broader crypto ecosystem.&nbsp;</p>
<h2 id="xrp-spirals-downward">XRP spirals downward&nbsp;</h2>
<p dir="ltr">XRP, currently ranked the seventh largest digital asset on the market, is exhibiting a downward trend in its price. XRP, which&nbsp;<a href="https://u.today/3-reasons-why-xrp-can-hit-060-today" rel="noopener noreferrer nofollow">crossed the $0.6 mark</a> only a few days ago, is now trading at $0.5994, down by 0.5% in 24 hours.&nbsp;</p>
<p dir="ltr">Accompanying the recent decline in XRP's price is a drop in trade volumes. This suggests that more investors are becoming less optimistic about the asset's potential. XRP’s trading volume decreased by 14.8% in the past day to $970,446,770, with a market capitalization of $33 billion.</p>
<p dir="ltr">XRP’s current movement suggests that sellers are dominating. However, buyers can seize opportunities on the market by bringing XRP back to the $0.60 level. This level is the next critical resistance, as a pullback from here could stop XRP from climbing toward $1 in the midterm.</p>
<h2 id="xrp-s-potential-for-recovery">XRP’s potential for recovery</h2>
<p dir="ltr">Despite the drop in XRP’s price, investors' sentiment remains bullish. This can be linked to expectations of epic growth in XRP’s price this fall. As&nbsp;<a href="https://u.today/70-xrp-price-pump-predicted-by-fall-if-history-repeats-itself" rel="noopener noreferrer nofollow">U.Today reported</a> earlier, historical trends show that XRP might be profitable over the next three months.</p>
<p dir="ltr">Based on average outcomes over the last 10 years, XRP is expected to rise by 15.3% in September before declining by 3.49% in October. By November, XRP is expected to increase by 70.4%. Also, December shows a historical 75.3% growth for the price of XRP.</p>
<p dir="ltr">It is not uncommon for XRP to experience price increases during the last months of the year. In light of this, investors have every reason to anticipate some improvement in the XRP price this fall. They should, however, limit their expectations, as nothing is ever certain on the crypto market.</p>

XRP Stuns Community With Unusual Bearish Trend

Table of Contents

U_Today

Other articles published on Aug 23, 2024

Marathon Digital Acquires $249M in Bitcoin Following $300M Senior Note Offering

Dogwifhat (WIF) Price and Market Cap Advanced 18%: What’s Next

CoinEx Launches AI Analysis Function to Help Users Capture Latest Trends and Discover Trading Opp...

Shibarium Marks First Anniversary as SHIB Hit Weekly Highs

Rarible NFT Marketplace Adds Support For Aptos NFT Collections

Astar Network Launches Phase 1 Evolution: zkEVM Joins Soneium L2, ASTR Token Enhances Interoperab...

Join our free newsletter for daily crypto updates!