The cryptocurrency market is currently being ruled by bears and traders are facing serious sell pressure. The top 20 cryptocurrencies are on a downtrend and the bloodbath is real. The leading cryptocurrency, Bitcoin, is struggling between $7,500 and $7,200. Analysts are afraid that the price will fall below $7,000 soon.
Even with this pressure, traders should hold on to their Ripple. Ripple is trading at $0.58 and the market is bearish. Irrespective of the price action, Ripple has shown progress regarding partnership and catching mainstream attention.
Banks and other financial institutions are beginning to pay close attention to Ripple. Ripple isn’t just seizing the glory in the financial circle but it has also become popular in mainstream media. Apart from this, Ripple still has a lot going on behind closed doors.
Ripple May Partner With Amazon Soon
There have been some rumors about a partnership between Ripple XRP and Amazon. People believe that Amazon may partner with Ripple and for good reason. Already, Ripple has entered into partnership with some of the major banks with the most recent one with about 61 Japanese banks.
Since Japan has a reputation for being one of the biggest financial tech markets in the world, Ripple’s partnership in Japanese banks will definitely increase before the end of the year with the release of the Money Tap app. The Ripple Money Tap app is a mobile app that will make round the clock domestic payment in Japan. This might also entice Jeff Bezos who seems to be getting interested in Ripple as well.
Even with the bloodbath in the cryptoverse, Ripple still has a better standing than most of the other coins. If you have XRP in your portfolio, you should consider leaving it there. If you want an alternative to Bitcoin, you can consider buying Ripple. Ripple has proven that it going to stand the test of time in the long haul.
The market conditions aren’t favorable but they will get better with time.