Crypto trader and analyst TARA, who goes by the Twitter handle @PrecisionTrade3, took to the social media platform to share her insights on the potential future of Ripple (XRP) prices. According to TARA, while XRP has a solid support base at $0.52, it is unlikely to last long, and the token is expected to follow the same correction trend as Bitcoin (BTC). TARA believes that XRP’s price could even drop to $0.494 in the coming days, and traders should be prepared for any potential market movement.
At the time of writing, XRP is still trading slightly above its support level of $0.52. CoinMarketCap data shows that the altcoin is trading at $0.5204, with a 0.36% decrease in value over the past 24 hours. Despite this small dip, XRP’s weekly performance is still up by over 3%.
XRP’s decline in value has resulted in the cryptocurrency weakening against both Bitcoin (BTC) and Ethereum (ETH) by 0.06% and 0.24%, respectively, over the past day. The token’s 24-hour trading volume is currently in the red zone, standing at $644,077,656 after a 40% decrease since yesterday.
Due to XRP’s price decline, its market cap now stands at $644,077,656. This places the remittance token in the sixth position in terms of market capitalization, just behind USD Coin (USDC) and in front of Cardano (ADA).
It should be noted that the views and opinions expressed by TARA, as well as all the information in this price analysis, are published in good faith. Readers are advised to conduct their own research and due diligence before making any investment decisions. Coin Edition and its affiliates will not be held responsible for any direct or indirect damage or loss.
In conclusion, while XRP’s current support base may not last long, traders should be prepared for any potential market movement. It remains to be seen whether the remittance token will follow Bitcoin’s correction trend, or if it will defy market expectations and continue to perform well.