It is evident the next few days will be very interesting for all cryptocurrencies and digital assets. Especially where the XRP price is concerned, we may not have seen the last of this bull run just yet. In fact, it seems the XRP price is preparing to move towards $1.25, which may even extend to $1.40 if there’s enough momentum. A very interesting turn of events, that much is rather evident.
XRP Price Remains Uber Bullish
For the people who had assumed the XRP price would start to decline due to the recent Bitcoin drama, things have worked out very differently. In fact, the XRP price was, by far, the most resilient market in the top 50 ranked by Coinmarketcap. Although there was a small decline to speak of, no major losses were recorded when everything was said and done. This is a good sign, especially for those who hold Ripple’s native asset as part of their portfolio.
As of right now, we see an XRP price of $1.19 according to CMC. That is quite a strong value, although it is not the all-time high. To some people, it still seems strange to consider Ripple’s asset being worth more than $1 per token, but there is a lot of merit to this project. Banks will far more readily embrace Ripple instead of cryptocurrencies in the coming years. In fact, the latter part may never happen, for all we know. Instead, banks will oppose any cryptocurrency-related activities whenever they possible
With this new 11.44% increase in USD value, things are looking rather solid for the XRP price. There’s also a near 2% gain over Bitcoin, although it remains to be seen if that trend will hold up. Most assets and altcoins tend to lose BTC value when the Bitcoin price is rising again. Then again, this trend has not been all that apparent in recent weeks. It would be good if all other currencies stopped relying on Bitcoin or get dragged down with it.
With over $3.11bn in 24-hour trading volume, Ripple’s XRP remains one of the hottest trading markets right now. It is absolutely amazing to see how this digital asset is gaining so much traction throughout 2017. Although this is not the final push we will see in the coming week, it remains to be seen how high the value can go. Some experts still stick to their $2 prediction, although that seems highly unlikely to most cryptocurrency users. Then again, stranger things happen every other day it seems.
In an unsurprising turn of events, Bithumb has maintained the lead in terms of XRP trading volume. Coinone and Korbit are also in the top 10, albeit in far less spectacular fashion. Poloniex successfully generates the second-highest amount of trading volume, although they are not too far ahead of Bitfinex. Three of the top five trading markets are fiat currency pairs for XRP, which is pretty interesting to keep an eye on. It seems both Bitstamp and Kraken are also heating up in terms of EUR-based trading volume.
It is still unclear what the future may hold for the XRP price. While there is a lot of bullish sentiment right now, cryptocurrencies are never stable markets whatsoever. Anything can happen in quick succession, especially when it comes to markets with a lot of trading volume. For now, all platforms successfully value XRP at over $1, but it only takes one hour of manipulation to drop this average by 10% or more. Rest assured a lot of people will keep a close eye on this market.
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