The price of XRP will recover to $ 3 or collapse to $ 1.5

XRP spends a difficult time as the encryption has been overlooked overnight. Over the past 24 hours, XRP has lost 3 % of its value, as it decreased from an increase inside the day 2.25 dollars to now trading compared to $ 2.09.

He reached its highest level in January and was worth $ 3.40 at the time, but it has decreased by 34 % since then.

Why is this happening? First, tension between the United States and China increases, and this makes investors feel uncertain. Trump also set a new base that prevents taxpayer money from using altcoins such as XRP. Moreover, $ 697.45 million of deals has been eliminated, making prices decrease more, according to Coinglass.

According to data from Santim4,516 new XRP wallets were created only last Sunday. This is the lowest level recorded this year, and this means that there is a lower demand, which makes it difficult for the return price.

Michael Wilson, chief strategic expert in Morgan Stanley, believes. The stock market will decrease 5 % In the first half of the year. If it is right, this may mean more trouble for XRP and other encryption assets. Investors have already withdrew money from risky assets such as encryption and the shift towards the safest assets such as government bonds.

But even with this sale, XRP managed to keep a $ 2.10 support area. Looking at the daily chart, the support area has protecting the price from the bottom direction since December. He decreased to $ 2.08 during the weekend, but she wore to $ 2.17.

However, most merchants do not feel very confident that the price will return. According to data from Coinglass, traders who have short jobs are more than $ 372 million, while traders are in a long position in only $ 114 million. This means that most merchants are betting on the decrease in XRP to that.

Also read: Will the XRP price be broken? 77 % of merchants bet on XRP