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Ripple [XRP], is it showtime yet? – Sentiment Analysis – April 16

Vinod KA



Ripple [XRP], is it show time yet? - Sentiment Analysis - April 16
Source: Pixabay

All the coins closed the week with a major gain under their belt thanks to the bullish breakout that happened in the last week. Cardano [ADA] appears to have gained the most in the last seven days among the top 10 coins in the cryptocurrency world with a gain of 58.33%. All the time frames, which includes the last one hour, one day and one-week look green for Cardano making it stand apart from all the other coins. Next to Cardano comes IOTA [MIOTA], with a 55.13% gain over the last seven days. Stellar Lumens also look green and has gained a 40.47% in the last 7 days. OmiseGO [OMG] and VeChain [VEN] have moved up in the rankings and into the top 20 spot. OmiseGO [OMG], previously ranked at number 21 is now ranked at the 18th spot. VeChain is currently ranked at the 16th spot with a 33.56% gain in the last 7 days.

Our sentiment analysis segment comprises of crypto-related sentiments and expert opinions of people from around the world on the current market trends of various coins in the cryptocurrency market. These sentiments and opinions were gathered after interviewing a group of investors, miners, skeptics, analysts, influencers, and their valuable comments are recorded as it is in this segment. This analysis is focused on Ripple which is currently ranked at the 3rd spot.

Ripple [XRP]

At 12:24 PM UTC, Ripple was seen to be trading at $0.654 with a market capitalization of $25.604 billion. Although the coin has had a dip of 2.53% in the last 24 hours, it managed to stay above the $0.65 mark which helped it to stabilize above this point. The coin peaked at an intraday high of $0.687 at 1:04 AM UTC today before it went down to $0.651 at 6:14 AM UTC. Ripple had gone above the $0.70 mark on the 13th of April last week but the momentum died out. The coin right now seems to be consolidating below the $0.70. There is a considerable support for the coin at $0.62.

Brian Powell, a Ripple investor from Kentucky says:

“There is a major bullish breakout waiting in line for Ripple and as of now I’m looking to HODL the coins till there is a major uptrend. There is a buying pressure for Ripple as it dropped below the $0.70 mark and there is a buy wall formation on the exchange Bitfinex. A 50% hike is expected which would take the coin to $0.774 by the 21st of this month.”

Alex Murphy, an altcoin miner from Denver says:

“The next targets set for XRP is at $0.82-$0.84 and the right time to buy XRP would be at $0.63. The coin is currently looking to find an uptrend hit and is testing the resistance levels. It is highly recommended that the investors should look to HODL their contracts in their hands and stop at the 500% return of Fibonacci.”

Kevin Nelson, a financial advisor from Gisborne says:

“The target at $0.855 shall soon be achieved by XRP as it has broken out of Cup and Handle pattern. This means that the price should move upwards at least to the lengths of the Cup pattern formation. The resistance formed at the Handle had been broken by the coin which signals a bullish trend which will kick in soon.”

Jonathan Williams, a cryptocurrency enthusiast says:

“Positive future and with amazing prospects, I believe in the technology, in the next 24 hours it will gain slightly but mostly hold its position.”

To conclude, 73% of Ripple respondents feel bullish and are of the opinion that the coin will test the major resistance levels and break into a bullish trend if the volume continues to increase. Another minor 27% of Ripple respondents are bearish as the coin failed to stay above the $0.70 mark for a longer time which according to them is bearish.

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Vinod KA is an intern at AMBCrypto who has been analyzing the cryptocurrency market trends for several months now. He joined the company out of sheer interest in the cryptocurrency world and is fascinated by its dominance in the financial world. He does not hold value in any cryptocurrencies as of now.

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