The top cryptocurrency and digital asset markets are still under a lot of pressure. Although a status quo has been reached in most cases, it would appear things are not necessarily heading in the right direction. XRP Price watchers will not be too pleased with how things are going right now. Losses across the board ensure the 9,000 Satoshi level remains well out of reach at this time.
XRP Price Momentum Remains Primarily Bearish
Many different factors can influence the current price of any financial market. Whether it is an overwhelming bearish trend, some bad news, or dissatisfied investors, anything and everything needs to be taken into account. XRP doesn’t suffer from the latter two, but it is subjected to the overall bearish trend which keeps all markets in its grip. This trend has been present for many months now and no further changes should be expected in the near future.
Over the past 24 hours, there has been further negative XRP price pressure. Following another 0.2% loss in both USD and BTC value, it seems this digital asset seemingly can’t catch a break under these circumstances. In fact, the trend appears to be growing worse as more time progresses, even though that may be subject to interpretation. Staying at $0.32 and above 8,950 Satoshi has proven to be extremely difficult for XRP as of late.
There is some genuine XRP-related excitement on social media these days. Brad Garlinghouse will represent Ripple at the upcoming Davos and Paris Fintech Forum events this month. While that might not necessarily have any direct correlation with XRP, the community seemingly expects these presentations to provide a healthy price boost regardless. Even so, it is good to see the parent company keep expanding its presence through events like these.
When it comes to investing in cryptocurrencies and digital assets, many different approaches can be taken. Hodlmate takes things a bit too far, as he isn’t even going out with friends. Instead, every spare cent is going into cost averaging the XRP holdings down. It is a viable approach, first and foremost, although one should never sacrifice their social life in favor of cryptocurrencies and digital assets. It is important to take some time off from this industry every now and then.
Same here. . .. I don't even want to spend money on drinks and go out with friends. All my pocket money are going to dollar cost averaging. #xrp
— Hodlmate (@Hodlmate_) January 22, 2019
When it comes to analyzing price charts, it seems things are getting somewhat interesting where Japanese exchanges are concerned. Although it would appear the value per XRP is rising firmly in that part of the world, one has to keep in mind this represents fractional values when comparing it to USD or EUR gains. Even so, there is some demand for this particular asset, which is all one can ask for under circumstances.
— ぼんじり＠110回 (@isekaibonjiri) January 22, 2019
Although XRP is still holding on with relative ease, it seems the gains are not materializing in any convincing manner. Although that may be a temporary setback first and foremost, one has to acknowledge the current trend simply isn’t what one would expect right now. The overall trading volume isn’t looking too great either, although that is something which can be rectified rather easily. An intriguing market to keep an eye on, although one should keep their expectations in check.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.