XRP’s Security Status May Not Matter Anymore as the Coin Surges Despite Lack of Clarification From the SEC

After the reports about Boerse Stuttgart XRP ETNs and CoinBase Pro’s listing of XRP for trading in New York, buyers have started to return to the XRP market. The price of XRP is now up by 44.7%. The digital asset has so far outperformed the market’s leader BTC in recent days and is now closing in on the number 2 position. XRP is now trailing Ether by $6 billion in market cap.

The XRP Army are ecstatic with this report. This latest development with the price of XRP happened at a time where the Stock Market slumped, as President Trump puts pressure on China and Bitcoin’s recent bull run.

The Price of XRP Has Been Trading in Tight Ranges For the Last Six Weeks Until May 15

The price of XRP is in a consolidating pattern and $0.10 ranging asset. Prices started to move in tight ranges until some analysts started comparing the world’s third most digital valuable asset class to a stable coin due to its volatility.

However, volatility has returned and behind it is a conviction of ramping bulls that has seen the price of XRP the lows from Q1 2019 $0.30. Traders, analysts and investors typically try to highlight the double digit, 44.7% price increase.

XRP Price May Maintain a Level of Stability Upwards For the Time Being

Of the many positive reports coming into XRP, news of CoinBase Pro listing of XRP for trading in New York shows XRP’s utility. Via a tweet, the San Francisco exchange cited that XRP is going to be available for trading on its platform, three months after it initially listed the asset class.

Because XRP is now on CoinBase Pro for trading in one of the US strictest state’s means the country is stabilizing. It could also mean that the asset, can be a success even without the SEC giving any clarification regarding XRP’s status.

The Price of XRP is Up By 44.7% From Last Week and Trading at $0.432469 as of Press Time

As of the time this content was published according to data given by coin market cap the price of XRP was up by 44.7% From what it was last week. As a result of yesterday’s surge in prices, the conditions of the previous XRP/USD trade predictions are valid. Buyers have returned to the scene and it isn’t hard to see why this is happening.

Apart from the favorable reaction of the price of XRP from Q1 of 2019 and primary support of $30, there’s a double pattern bull reversal of April 25-26, and a series of higher highs as well as yesterday’s take-off. All of these cement the position that the price of XRP is bullish and may still be under consolidation at the same time.

Aggressive traders can load on price dips, fine-tune their entries in less time, risk-averse, conservative traders may also be able to load up after there’s a high-volume break above $0.43. This will entail a bullish breakout, from a half-year consolidation triggering participation that may pump the price of XRP towards $0.60 cents or the highs attained on December 2018. It can also hit September 2018 highs as well. It will be an interesting thing to see how the price of XRP fares with the current rise of the price of Bitcoin.

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


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