On Twitter, TARA (@PrecisionTrade3), a seasoned crypto trader and analyst, recently shared her insights on the future price of Ripple (XRP). Despite the token’s current support at $0.52, TARA predicts that this stability may be fleeting and that XRP could experience a correction similar to that of Bitcoin (BTC). As a professional in the field, TARA’s analysis is a valuable resource for those interested in the crypto market.
According to the analyst, XRP’s price is possibly plummeting to the support level of $0.494. However, she also emphasized that making definitive predictions of XRP’s price might take time. Traders should remain vigilant and ready to respond to any potential market shifts.
As of publication, XRP remains perched just above its support level of $0.52. According to CoinMarketCap, the alternative cryptocurrency exchanges hands at $0.5204, having experienced a slight 0.36% dip in value over the past 24 hours. Despite this minor setback, XRP’s weekly performance remains impressive, gaining over 3% in value over the past seven days.
The recent decline in XRP’s value has resulted in a slight weakening against BTC and Ethereum (ETH), with a decrease of approximately 0.06% and 0.24% over the past day. Unfortunately, the altcoin’s 24-hour trading volume has also taken a hit, currently residing in the red zone and standing at $644,077,656 after a significant decrease of over 40% since yesterday.
Despite experiencing a price decline, XRP still holds a significant position in the crypto market, with a current market cap of $644,077,656. Currently, it stands as the 6th largest cryptocurrency in market capitalization, trailing behind USD Coin (USDC) at the 5th spot and leading Cardano (ADA) at the 7th position.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
