The price of XRP has been trading in green days as BTC jumped and the XRP $589 price prediction seemed conceivable. But suddenly it turned red for a brief period following the market sell-off that slashed the price of Bitcoin. XRP as of May 17 established an intraday low near the $0.359 position via BitStamp exchange amidst reports of a flash crash action. The XRP/USD pair then attempted to force a rebound, but the volume of the coin was not enough to completely erase the latest drop it suffered.
Altogether, the price of XRP lost 25% two days earlier. The implication of this price action is that XRP’s previous bullish momentum may actually be fading. Now the founder of Ripple who has been a strong proponent of XRP, Brad Garlinghouse is claiming that interest in xRapid by global banks is on the rise. What does this mean for XRP price prediction 2019? Can XRP $589 still happen in the long term?
XRP (XRP) Price Today – XRP / USD
XRP Price Prediction 2019: The Price of XRP Launched an Upward Movement After Bitcoin Turned Bullish
Ripple remains one of the most flexible and efficient crypto platforms available that is being used to tackle the issues faced by byfinancial institutions around the world. The XRP digital asset is a unique, fast, and secure token that can be used to complete stress-free cross border transactions. Garlinghouse has strongly shown his support for XRP’s status. He has been defending the coin against market any forms of speculations against entities’ like xRapid, xCurrent, and xVia.
XRP joined Bitcoin and made a positive turn as the later initiated a surge back above the $7k mark after the sudden drop. The current market data indicates that the price of XRP is now in a positive movement. But the question is; how long will it maintain this course?
XRP Price Prediction 2019: Comparing the Price of XRP From 30 Days Earlier to the Present Levels – XRP 589
In the past 30 days, the price of XRP moved between $0.47 and $0.28 positions. The price pattern managed to remain the same 7 days ago as well. As of April 18, the price of XRP was recorded as trading at $0.33 and 0.00006414 BTC respectively according to CoinMarketCap. The Ripple backed coin had a market cap of $14,149,786,101 at the time and 24-hour trade volume of $1,336,841,102. There has been a bullish movement of no less than 21% in the price of XRP in the last month.
XRP Prediction 2019: The Price of XRP is Bullish in the Long-term Outlook
The price of XRP moved steadily since the year began, but now it has picked up momentum after the bull run began. The coin has immense potential that will allow it to combat the current distractions. The price of XRP can get to $1 by year-end. For the long-term, the price of XRP can reach $10 by 2020.
The coin has the potential to sustain a bullish breakout in the long run. However, competition from other altcoins and the launch of JP Morgan’s customized coin can make things more interesting. Analysts recommend that it would be wise to buy XRP in bulk now for long term gains.
The fact that XRP has been added to Coinbase for mining and trading is promising for the digital asset. Hopefully, it will ensure that the price of XRP remains bullish for the foreseeable future.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.