XRP’s last 30 days was a classic example of a price trend having a mix of the worlds, stability, and volatility. For most of the month, the currency managed a decent hike. However, towards the onset of 2020, Ripple’s price pattern showed no strong fundamental based movement.
XRP coin was being traded at $0.2235 on December 11. Over the next week, it went through a rough phase losing 20.13% value in total. The value on January 18 was the weakest point of Ripple cryptocurrency for the month at $0.1785. From there, the coin started showing stability, and it managed a whopping 25.15% increment to push the price to $0.2234 by January 07. The last swing happened between January 07 & 09, and over these two days, the XRP coin went on losing $0.0221 and fell to as low as $0.2013.
The market cap has replicated the price trend of XRP against USD. Over the last month, the market cap has traveled from 9.611 billion USD to 8.793 billion USD.
Ripple’s both 20 days MA (0.2042 USD) and 50 days MA (0.2027 USD) have been on a decent lead over its current price. It indicates that the ongoing struggle may continue for the next few days. Due to bearish pressure, the price of XRP coin may fall to the support of $0.1989 shortly. Investors are advised to be cautious of any sudden price movements.