XRP Rises by 17% As German Exchange Launches XRP and Litecoin ETNs – Is XRP Recovering?

The price of XRP (currently the third largest digital asset by market capitalization) smashed a number of barriers to reach $0.3750. XRP’s current market value is $15 billion. The coin has been showing signs of a recovery on a daily scale. Now the price of XRP has gained 17% since May 14 in the Asian trading market. This latest achievement by the altcoin makes it the best performing virtual currency in the top 20 on the day.

The price of XRP hit its highest level since what was attained on April 5. Even going on beyond the DMA200. From a long-term perspective, the price of XRP has the potential to hit the $0.3800 price position and also get to the SMA50 weekly at $0.3850. XRP’s price has reportedly been trading below this range since the month of June 2018.

XRP Price Prediction: The Price of XRP Tasted $0.3700 and $0.378 Before Gaining 17% on the Daily Scale

However, after being strongly overbought in an intraday region, the price of XRP is vulnerable to $0.35 (which is the short-term bearish correction) and $0.3380 as well (which is the highest price position from the previous week).

The price of XRP reportedly gained 17% on May 14 on a daily scale as the price of top asset class tested yearly highs at $0.3700 and $0.378 respectively.

Moreover, XRP was also the only the digital asset currently trading in the green zone besides Bitcoin. The price of XRP was trading at $0.3702 as of May 14 at 4: 20 Hours UTC according to data given by coin market cap.

The majority of the cryptocurrencies including the price of Bitcoin gained more than 100% from January to this day. However, the price of XRP has been trading in red since the year began. Now it’s turned bullish. The XRP price held support and resistance near $0.30 and $0.31 for some time before moving upwards. The total market cap of XRP broke the $15 Billion mark as the digital asset remains number 3.

XRP Price Prediction: German Exchange, Borse Stuttguard Adds XRP and Litecoin ETNs to its Platform

Borse Stuttguard, Germany’s second largest exchange, has reportedly listed two crypto-based Exchange Traded Notes. They include that of XRP and Litecoin. The ETNs will allow traders on the exchange to bet on the price of XRP and LTC from May 13. The Exchange can also be made in Krona (SEK) and EUR.

Europe has actually been ahead in crypto-based exchanges. Because earlier in the year, SIX, a Swiss-based exchange reportedly launched an XRP ETP.

XRP Price Prediction: What Triggered The Rise in the Price of XRP?

The recent rise in the price of XRP may be attributed to Borse Stuttguard’s decision to list an XRP ETN and Bitcoin’s recent bull run. Hopefully, this new chapter will be extended. XRP trading has been on a small scale of $0.30 for some time now.

However, the price of XRP is now looking to gain more positive momentum from Bitcoin price. Moreover, the most recent altcoin season was initiated by the price of XRP. The room for growth in XRP’s price is tremendous when you consider past highs attained by the digital asset. With more partnerships on the way, the coin looks good enough to achieve mass adoption in the near term.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.


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