XRP Price Prediction as $400 Million Trading Volume Sends XRP Below $0.50 Support – Dip Buying Opportunity?

cryptonews.com:

The XRP price has dipped by 0.5% in the past 24 hours, taking it below its all-important $0.50 support level as the market remains largely flat today.

At $0.493170, the altcoin is up by 1.4% in the last seven days, but down by 2% in the past month, although it remains up by 45% since the beginning of the year.

And given that XRP's declines have been less to do with its fundamentals and more to do with market uncertainty, there's little doubt that it will soon recover, and that it's recent dips represent an excellent buying opportunity.

XRP's indicators have been in a subdued condition for a few weeks now, making a recovery rally increasingly overdue.

Most notably, the coin's relative strength index (purple) has remained in and around the 30 level since the middle of August, meaning it has been heavily oversold and is now considerably undervalued relative to its recent price levels (and not to mention its 'true' value).

Another sign that XRP has hit a bottom is the fact that its 30-day moving average (yellow) fell below the longer term 200-day average (blue) over the weekend.

Again, this means that the altcoin has been heavily oversold, with its recent losses providing investors with a discount on what is likely to be a fair price.

XRP's moves today come as its 24-hour trading volume inches up to $400 million, suggesting a slight increase in market activity and trading interest.

However, much of this interest may reside more with selling that buying, at least at the moment, with data showing that some whales have been transferring large sums of XRP to exchanges.

But at a certain point, XRP will reverse its trajectory and become more positive, given its strong position – and the strong position of Ripple – within crypto.

Indeed,