Ripple Price Analysis | Are We in a Bear or Bull Trend?

When it comes to Ripple, there are two things people want to know the most. Either they are looking for a Ripple price analysis, or they are looking to see if Ripple, the software company, announced anything new. Today, we are going to focus primarily on XRP’s market performance.

Ripple Price Analysis: June 18, 2018

Over the weekend, XRP saw some losses. The Ripple price avoided massive drops but did spend the Sunday trading session in a tight range. Yesterday, XRP opened at $0.535 and finished the day at $0.528.

Today, Ripple (XRP) started the day continuing its descent to the $0.50 price mark. At one point, XRP hit an intraday low of $0.512. This marks the lowest Ripple price since early April. However, at the time of writing, Ripple (XRP) has managed to revive itself and push above that level.

Currently, the XRP price is at $0.546. This puts the altcoin up 3.18% in the past twenty-four hours. Ripple (XRP) has a market capitalization of $21.44B, and a twenty-four-hour trading volume of $256.02M.

Ripple price analysis
Source: CoinMarketCap

XRP’s performance today is in line with the overall cryptocurrency market. Most coins started the day down, posting losses over the past twenty-four hours. However, the coins that were down this morning have managed to climb back into the green zone, now that the day has progressed. Will it last, though? The crypto market does not close, so it’s very possible that these coins could plunge again.

That said, recent market data is suggesting that XRP is improving. We can see that the price has jumped to $0.54, and its 24-hour trading volume is significantly higher than Sunday’s session. For perspective, the trading volume Ripple generated yesterday was $166M. Today, it’s gone from $211.3M to $256.02M.

The Ripple Price Takeaway

It’s going to be important to keep an eye on XRP this week. We should be hearing some more information from the SEC regarding whether Ripple (XRP) is a security, and that should have some sort of impact on the Ripple price – good or bad.

>> All Things Ripple: XRP News, Company Talks India Crypto Ban

Featured Image: Depositphotos/© BiancoBlue

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