Ripple: XRP Price Lost 95% in 2 Years

Altcoins dropped severely during the recent retracement of Bitcoin price to $6,400, which increased Bitcoin's dominance above 70%. One of these coins is XRP, which took a hit of 20% and is currently valued at $0.19 per coin - or the lowest value in over two years - after hitting as low as $0.178.

The question for XRP now is whether the current lows provide a perfect investment opportunity, or will the top-3 altcoin continue to lose ground? Let's take a look at the charts to spot the trend.

XRP hits lowest USD value in 26 monthsUnfortunately for XRP holders, the trend remains the same since the last article: still trending downwards, posting lower lows and lower highs.

As XRP made a bearish retest of the $0.30 level, the price retraced further and is currently resting on the next significant support around $0.17-0.20.

Interestingly enough, the price of XRP has been hovering in a similar range for more than a year before it broke south.

This level broke due to the volatility of Bitcoin but it was critical nonetheless for XRP. Then a retracement happened to the next support zone, which must now hold if XRP wants to prevent itself from making new lows.

Based on the overall XRP/BTC chart, a conclusion can be drawn that XRP is still showing significant bullish divergences on higher time frames for a potential trend reversal.

If this zone is unable to support price at this point, XRP is likely to move down towards the next red zone area around 1,200-1,300 satoshis.

Looking forwardHolding XRP in the past few years didn't bring the return people were looking for as the price retraced 94.80% since the peak in January 2018.So does this mean that shorting XRP is a wise strategy here? I don't believe it is.

Fundamentally, the firm behind XRP is continuing to move forward and pursue their plans, as sentiment couldn't be more bearish.