u.today
XRP, the native token of crpytocurrency juggernaut Ripple, has dropped below the critical level of $0.25. Notably, this comes right after the SWELL event that was supposed to embolden the bulls and send XRP to its new yearly highs.
At the time of writing, the third biggest coin is changing hands at $0.248, its lowest point since September, CoinStats data shows.
After losing the $0.25 support, XRP is now in serious danger of dropping to as low as $0.15.
#XRP is arguably at its most critical support @ $0.25.
— Leb Crypto (@leb_crypto) November 18, 2019
Losing this significant support takes it down to $0.15 with a high degree of probability.
Breaking now to the upside, and testing the $0.46-0.47 levels, keeps hope for a significant parabolic shot to the yellow line EOY. pic.twitter.com/PNqR6AZpOy
Despite this sluggish price action, the XRP community seems to be convinced that the token is still going to see some light in the near future.
The #XRPAmry, which is extremely active on Twitter, believes that the current price is only a distraction from what is going on behind the scenes.
This Bull run is going to be like no other, don't be fooled by the low #XRP price.
— Mr G_Xrp (@Gxrp007) November 19, 2019
You are about to witness the true $XRP
THE SHOW IS ABOUT TO BEGIN!!
Their main argument is that XRP is currently severely undervalued after its precipitous drop from its all-time high of $3.84 that was reached back in January 2018. Ripple CEO Brad Garlinghouse doesn't pay attention to short-term price moves, claiming that only coins with real-life use cases will survive.
As reported by U.Today, Ripple's On-Demand Liquidity (ODL) solution continues to make strides with numerous big-name partnerships. The XRP/MXN liquidity index has recently reached a new all-time on Bitso, surpassing the 6 mln mark.
On the other side of the debate, there are XRP bears who stubbornly continue to insist that the third biggest cryptocurrency might eventually go to zero. Trading veteran Peter Brandt, who infamously predicted that XRP could plunge to just $0.02.
Apart from the increasing selling pressure, there is a huge cloud of legal uncertainty hovering above XRP.