Although all cryptocurrencies have had it tough over the past few weeks, XRP has been hit especially hard. The altcoin, the third-largest crypto asset by market capitalization, fell as low as $0.105 on Thursday from its 2020 high of $0.345 established just weeks earlier, marking a drop of 70%.<\/p>\n
However, the cryptocurrency rapidly bounced back above $0.13 and is now trading at $0.15 as a recovery in the digital asset markets seems to be underway. A top trader has suggested that this recovery could set the stage for a wider rebound in the value of XRP.<\/p>\n
Despite the recent weakness seen in the XRP markets, Calmly, a full-time digital asset trader, has expressed optimism about the asset, writing on Saturday that it may be time to “start accumulating Ripple.”<\/p>\n
He remarked that XRP has held a long-term support zone around $0.13 \u2014 which the cryptocurrency decisively bounced off of in 2017 \u2014 suggesting that a bull case remains intact. Although Calmly did not give a concrete<\/a> price prediction, his chart indicated XRP has room to rally nearly 100% to $0.27-$0.30, where there exists a long-term resistance band that the asset is likely to have trouble breaking through on first go.<\/p>\n #Ripple<\/a> \/ $XRP<\/a> – Begrudgingly, I think it's time to start accumulating #Ripple<\/a> <\/p>\n 1 The $XRP<\/a> \/ $BTC<\/a> chart looks like accumulation at monthly support. The #bitcoin<\/a> pair held up during the crash<\/p>\n 2 The $USD<\/a> pair is at my long term support zone. Even during the crash this lvl held pic.twitter.com\/lRqxjgCrzE<\/a><\/p>\n — Calmly | full-time trader (@im_calmly) March 14, 2020<\/a><\/p><\/blockquote>\n\n