We will be examining historical price data and market sentiment for Ripple, so that we can launch an XRP price prediction for June 2020.
XRP is the native crypto of the Ripple blockchain, used in making transactions and powering its payment technologies.
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The coin currently ranks in 4th position according to a market cap of $8,754,403,632 and has a current trading price of $0.198455, with an increase of 2.13 % in the past 24-hour period. 44.112.853.111 XRP are in circulation on the market at the moment out of a total of 99.990.976.125 XRP. In the past 24 hours, a $1,514,986,402 trading volume was recorded for XRP.
Ripple (XRP) Price Prediction: Analysis
XRP started May at $0,212858 and climbed past $0,226 in the next two days. The coin fell then back down to $0.21 level, and until May 10th, XRP struggled to keep itself above the $0.22 resistance level.
The coin went through another drop on May 11th, taking Ripple to $0.18 low. The coin recovered the next days, but the upward movement was limited to the $0.205 resistance. The bulls have been struggling the past weeks to get past this resistance level, leading the coin to trade sideways beneath this level.
If this resistance is broken, then the coin has a chance of moving to the next resistance of $0.22, and this momentum is expected to trigger a further hike to the $0.23 price level. Otherwise, Ripple will continue its sideways movement between $0.19 and $0.20.
WalletInvestor’s pivot, resistance, and support levels for XRP are:
- Resistance Level (R3): 0.211
- Resistance Level (R2): 0.2087
- Resistance Level (R1): 0.2070
- Pivot Point: 0.2046
- Support Level (S1): 0.2028
- Support Level (S2): 0.20044
- Support Level (S3): 0.199
Swiss cryptocurrency exchange, ShapeShift, revealed that it has added support for XRP trading on its platform. Users can now send, receive, and trade Ripple without any fees by using the KeepKey wallet on the exchange.
SBI Holdings, or as also referred to as Strategic Business Innovator Group, a Tokyo-based financial services company, revealed that it intends on implementing the Ripple payments network across Japan to facilitate ATM access.
In the group’s latest financial report, it was stated that there were plans on integrating the exchange settlements platform, MoneyTap, with ATMs.
“Currently, each bank has an ATM with its own bank app. But with a common web app, the same ATM may be used as its own jointly operated multi-bank ATM,” stated the group.
“We will use the virtual currency XRP for remittance. We are focusing on making Moneytap into the Group’s flagship product. We are going to have various relationships with Ripple in the US, and this alliance is very significant,” – said Yoshitaka Kitao, SBI Holdings president.
RAKBank, a United Arab Emirates (UAE) commercial bank, has improved its money transfer options to Bangladesh by implementing Ripple’s blockchain technology and providing RAKMoney Transfer (RMT). The new instant money transfer service will start beginning with June 30th and will be completely free for all users.
RAKBANK’s RMT banking service enables instant money transfers to Bank Asia accounts and any other bank account in Bangladesh within 24 hours.
In other news, the Ripple network has activated a new feature for the XRP ledger: Deletable Accounts. The new feature was voted for over two weeks with an 80 percent majority. The “ DeletableAccounts Amendment” enables XRP wallet users to delete old, inactive accounts and recover the funds in those accounts. After the update, several XRP users successfully deleted their wallets.
Ripple Price Prediction: Market Opinion for June 2020
As many crypto forecasting sites have made their own XRP price prediction for June 2020, we will be featuring some of the most important ones below in order to better showcase the market sentiment for Ripple.
Tradingbeasts expects that XRP will hit $0.2587037 by the start of June 2020. They anticipate a maximum price of $0.3204839 and a minimum price of $0.2179291. The coin is expected to close the month at a price of $0.2563871, change for June 26.21%.
Longforecast projected XRP to begin June at a price of $0.20. They predicted a maximum price of $0.25, a minimum of $0.17, and a monthly average of $0.20. The site calculated that XRP will close the month at a price of $0.19, change for June -5%.
Digitalcoinprice’s XRP price prediction for June sees the coin trading at $0.45200651, marking a change of 121.8%.
Coinpredictor forecasted that XRP will start June with a decrease of -10.3%, putting the coin at a trading price of $0.260668.
Gov.capital‘s XRP price prediction for June 1st is that Ripple will have a trading price of $0.183, with a maximum price of $0.21045 and a minimum price of $0.15555. The average price for the last day of the month was estimated at $0.124, with a maximum of $0.1426 and a minimum of $0.1054.
|Calendar date||Regular||Least possible price||Best possible price|
|2020 June 01, Monday||0.183||0.15555||0.21045|
|2020 June 02, Tuesday||0.192||0.1632||0.2208|
|2020 June 03, Wednesday||0.198||0.1683||0.2277|
|2020 June 04, Thursday||0.192||0.1632||0.2208|
|2020 June 05, Friday||0.189||0.16065||0.21735|
|2020 June 06, Saturday||0.199||0.16915||0.22885|
|2020 June 07, Sunday||0.2043||0.173655||0.234945|
|2020 June 08, Monday||0.199||0.16915||0.22885|
|2020 June 09, Tuesday||0.191||0.16235||0.21965|
|2020 June 10, Wednesday||0.168||0.1428||0.1932|
|2020 June 11, Thursday||0.155||0.13175||0.17825|
|2020 June 12, Friday||0.152||0.1292||0.1748|
|2020 June 13, Saturday||0.146||0.1241||0.1679|
|2020 June 14, Sunday||0.149||0.12665||0.17135|
|2020 June 15, Monday||0.142||0.1207||0.1633|
|2020 June 16, Tuesday||0.141||0.11985||0.16215|
|2020 June 17, Wednesday||0.148||0.1258||0.1702|
|2020 June 18, Thursday||0.153||0.13005||0.17595|
|2020 June 19, Friday||0.158||0.1343||0.1817|
|2020 June 20, Saturday||0.173||0.14705||0.19895|
|2020 June 21, Sunday||0.171||0.14535||0.19665|
|2020 June 22, Monday||0.162||0.1377||0.1863|
|2020 June 23, Tuesday||0.160||0.136||0.184|
|2020 June 24, Wednesday||0.152||0.1292||0.1748|
|2020 June 25, Thursday||0.153||0.13005||0.17595|
|2020 June 26, Friday||0.146||0.1241||0.1679|
|2020 June 27, Saturday||0.132||0.1122||0.1518|
|2020 June 28, Sunday||0.128||0.1088||0.1472|
|2020 June 29, Monday||0.122||0.1037||0.1403|
|2020 June 30, Tuesday||0.124||0.1054||0.1426|
Cryptorating forecasted that XRP will start June with a price of $0.242877, marking an increase of 19.08%.
Cryptoground’s XRP price prediction for the June places the coin at around $0.2918, which signifies an increase of 43.13%.
30rates issued an XRP price prediction for every day of June (except weekends), with the minimum, maximum, and closing prices for every day.
Ripple Price Prediction: Verdict
This is the conclusion of our Ripple price prediction for June 2020. From the information we have gathered, it seems that XRP is expected to see a slight rise in the next month. We hope that the information proves useful when you decide to create your own XRP trading strategies.
Featured image: coindesk.com
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