On Monday, the price of the leading altcoin, XRP has stagnated in the chart. Ripple native token’s value has barely increased, and investors are being tested. US President Donald Trump announced the blockade of the Strait of HormuzNot allowing Iranian shipping to access or leave the route is a serious measure. This situation is already straining all diplomatic discussions and could threaten the 14-day truce.
The broader market for cryptocurrencies, which includes Bitcoin, Ethereum, XRP and others, has been caught in the crossfire. It appears that the ground has become slippery once more, and there is a possibility of markets going red. After a constant tension that has pushed prices to the edge, this comes on top of a year-long period in which there was no relief. Since the start of the conflict, traders who took an initial position have experienced increased volatility. For those that are able to handle price fluctuations, it is recommended they take a position.
You may also like: XRP Holders May Be In For The Best Decade In Its History
How low can XRP go from here?
More losses are indicated for Ripple’s XRP as the recent data from Coingecko The trading volume is down by almost 6.20%. As the bears dominate, investors tend to avoid taking positions. Ripple’s collaboration and RLUSD usage is not enough to push XRP up the charts.
The XRP value is not affected by Ripple’s business operations. They are both independent and seldom go together. If the downside is not broken at $1.30 the next leg would be the $1.20 area. It is risky to enter this territory, as the price could start falling.
It is only a domino-effect of unloading that, combined with the US/Iran conflict, can break the mold. XRP remains in a dangerous area. To avoid entering a trade during this period, you should not take a position.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: watcher.guru
