Ripple (XRP) is passing through a rough period of time, lately, as it declined last week, showed some stabilization short afterward but now Ripple (XRP) is still downtrending.
Ripple (XRP) price trend
At the moment of this writing, Ripple (XRP) is trading at $0.90, marking a 19% increase in the last 24 hours, after coming back from around $0.80 earlier today.
However, the coin is not showing stability as it is very volatile this period.
Even more, on January 31st was the last time Ripple (XRP) closed above $1 ($1.16). In early February, however, Ripple (XRP) closed just below $1, specifically at $0.96 on February 1st.
Since then, unfortunately, Ripple (XRP) closing price declined, fluctuating between $0.88 on February 2nd and $0.72 on February 7th, registering its lowest closing price at $0.69 on February 5th.
Yesterday, Ripple (XRP) closed at $0.80.
The future Ripple (XRP) trending
On the long run, Ripple (XRP) is expected to go up as a new partnership between the company and the Chinese online market is ready to be signed.
The possible price targets could be $1.21 and then $1.61 but for this to be happening Ripple (XRP) must show stability at above $1.
However, if Ripple (XRP) partnership with Chinese online market will eventually be official, the crypto’s value will be appreciating faster because we’re talking here about a huge market that will use Ripple’s xCurrent.
The Chinese online market scored $1.3 trillion in cross-border transactions in 2017, and it is expected an increase by 10% for 2018. If Ripple (XRP) system will be used on such a huge market it will definitely positively impact its price which might go up even more and faster than believed.
In the meantime, investors are keeping an eye on the Ripple (XRP) recovery and hope that it will stabilize at above $1.
The post Ripple (XRP) Is Still Downtrending – What’s To Know? appeared first on News4C.