Summary
TLDR: Ripple (XRP) price has been declining with lack of institutional investor interest. Retail investors are also pulling away, leading to a decrease in network growth. The price is at a crucial level and may see further decline if it drops below $0.60. Ichimoku Cloud signals bearish trend, but if the 38.2% Fibonacci level holds, XRP may breach $0.64. Always do your own research before making financial decisions.
Key Points
1. Ripple (XRP) price has observed consistent declines for the past couple of weeks in terms of price as well as investors’ interest.
2. Institutions Divest Ripple
XRP price has had a slow recovery, and in part, this is due to the lack of interest from institutional investors. These large wallet holders tend to sway the price of an asset; however, such is not the case with the Ripple token.
3. XRP Price Prediction: A Crucial Level to Hold
XRP price, at the time of writing, is trading above the 38.2% Fibonacci Retracement of $0.81 to $0.47. Marked at $0.60, this Fib level is crucial as losing it would result in a drawdown to the 23.6% Fibonacci level at $0.55.