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XRP Market Loses $790 Million, Analyst Predicts Long-Term Buy Range Approaching

November 25, 2019

The price of XRP is in deep red territory, along with the overall crypto market.

At time of publishing, the third-largest cryptocurrency is down 7.80% at $0.2098, according to CoinGecko.

In the last 24 hours, XRP’s market cap has lost $790 million, from $9.87 billion down to $9.08 billion.

Analysts are now trying to trace the bottom for XRP, which has lost 19% of its value in the last week.

DonAlt tells his 124,000 followers on Twitter that XRP is now approaching a new level of support that dates all the way back to October of 2018.

“$0.30 was quite important, let’s hope $0.19 will be as well. The price action on XRPUSD is uncannily technical.”

Meanwhile, a fellow analyst known in the industry as Haraldo says XRP may begin to find buyers if and when it dips below $0.20.

The analyst says traders interested in holding XRP for the long term may be targeting an entry at the $0.16 mark.

“I think people who are interested in margin trading XRP wanted to get in at prices in the region of $0.33c but didn’t get chance.

Those who want to buy XRP tokens for long term are looking at the 16-20c range. And Bitcoin has a short $4.8k target x.”

The outlook aligns with a recent breakdown of XRP’s price path from Magic, who tells his 68,853 followers on TradingView that XRP may drop to $0.15 before its next bounce.

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