Traders Relieved After XRP Price Initiates Upward Movement and Gains Over Bitcoin (BTC) 

A look at the crypto space in recent weeks indicates that there isn’t any clear direction for cryptos in general. This weekend is becoming more exciting, although it is still a worrisome situation. Looking at our XRP price prediction we can see that contrary to what many experts had anticipated, XRP’s price momentum was able turn bullish once more and push forward to make gains over the leading digital currency Bitcoin (BTC). Despite the fact that the gains XRP recorded this weekend are not enormous, we can actually see an upward price movement in the XRP/USD pair which is a reason for traders to feel relief.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.381556
-0.26%

The Price of XRP is Beginning to Look Promising for Traders

There hasn’t been any trade weekend as boring as this weekend in the crypto sector so far. Despite the fact that things didn’t look promising earlier in the day, it appears that most markets have actually recovered even better than initially anticipated. When the XRP price manages to see green across the positive range, there is enough reason to be cautious and optimistic. The question however is, how long will this upward price movement remain in place?

XRP Recorded 1.4% Gains Over the USD and BTC

In the last 24 hours, the price of XRP has reportedly gained about 1.4% against the USD and BTC in value. Hence, one XRP is now traded at $0.312378, or 7.637 BTC as of per CoinMarketcap.com. Most traders had already given up seeing an XRP price improvement so soon, but today hasn’t disappointed. It will also be interesting to see XRP soar past the $0.31 position after a relatively turbulent week. If the asset class can maintain this new phase and carry on with the momentum it could spell better days for the third largest digital currency by market capitalization.

XRP’s Legitimacy Debate, XRP a Security or Not?

After the statements made by former Securities and Exchange Commission employee regarding the dilemma of whether or not XRP is a security, Nicholas Weaver, who serves as a researcher. He works at the International Computer Science Institute & Lecturer and gave his opinion on the matter. Weaver, who also holds a position at UC Berkeley remarked that XRP is actually a security. In his view Ripple, the company behind the XRP token, is non compliant of this which amounts to fraud.

It should be recalled that that former employee of the SEC who made the above remarks was Michael Didiuk. According to him, a the Ripple’s XRP digital token is not a security. Rather it is a currency and should be regarded as such.

Another matter on ground is the growing discussion regarding XRP’s “legitimacy” on social media platform Twitter. Numerous users have come out to claim these individuals instigating the debate are a bunch of bots, not real people. This is an interesting comment, considering the fact that when Tron founder Justin Sun in recent times had his fair share of fake Twitter followers. These ones are mere bots or duplicate user accounts. Hence, such legitimacy debate should be disregarded.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.