Ripple Price Prediction: XRP Plummets Below $0.50
Daily Ripple XRP Technical Analysis
- The Ripple price has flipped the 20-day SMA from support to resistance.
- The parabolic SAR has flipped from bullish to bearish.
The Ripple price has sunk from $0.63 to $0.522 between February 14-16. Since then, it managed to hover above the $0.50 line. However, the sellers then took complete control of the market and pushed XRP below the $0.50-line.
Ripple Price Has Dropped Below $0.50
During this Tuesday’s drop, the Ripple price has flipped 20-day SMA from support to resistance. The RSI is trending comfortably in the neutral zone, so both the bulls and the bears have the licence to take control of the market.
Image: XRP/USD daily
Looking at the 4-hour Ripple price chart, there are three negative signals:
- The 20-day and 50-day SMAs have flipped from support to resistance.
- The MACD shows increasing bearish momentum.
- The parabolic SAR has converted from bullish to bearish.
Image: XRP/USD 4-hour
Ripple-MoneyGram Partnership To Resume Soon
Asheesh Birla, the general manager of RippleNet, said that Ripple is anticipating “a path forward” for resuming its partnership with MoneyGram. In a recent statement, Birla clarified that MoneyGram has stopped using Ripple’s On-Demand Liquidity solution, but a “multi-year” contract between the two firms is still in place.
Even if MoneyGram does not continue its relationship with Ripple, Birla claims that the blockchain giant has “two dozen” other companies that use ODL. He added that Ripple will soon announce some new customers.
MoneyGram had announced that it would suspend trading on XRP’s platform during its earnings Q4 call. However, MoneyGram CEO Alex Holmes had hinted that he would like to resume the partnership eventually. He said:
We're pausing those activities just more for [an] abundance of caution..than with any other concerns about it. We've had a great relationship with Ripple and it'd be great to continue to partner with them.
Ripple Price Is Expected To Reach These Levels
The Ripple price is likely going to go past the $0.45 support line.