XRP didn’t have a good start this week and its downward trend was beginning to give traders and enthusiasts a cause for concern. Questions such as “Is XRP a Security” are still popping up here and there. The coin also received a blow as Siam Commercial Bank backtracks on its plans to use XRP. There is also a report from Gatehub about the hack of XRP ledger wallets from their platform. Despite the bad day XRP is having, the bulls seem to have come to stay this time.
What is XRP price prediction 2019 at this time and can the bulls maintain the momentum?
Siam Commercial Bank Retracts Statement
A while ago, Siam Commercial Bank, the largest bank in Thailand purported that it was making plans to partner with XRP and even use it in the near future. The XRP army were excited about the prospects of such a deal. Sadly, this joy was short-lived. The bank, through its Twitter page, retracted the earlier statement, saying that it had no plans to use XRP.
We are so sorry for the previous information of the previous post. As of now we have no plan on using XRP.
— SCB Thailand (@scb_thailand) June 7, 2019
Many XRP enthusiasts do not believe this recent development, and are convinced that it was retracted because of a Non Disclosure Agreement. Members of the community have no choice but to wait and see what unfolds in the future.
Gatehub’s XRP Ledger Wallets Were Hacked
Earlier today, a crypto wallet service provider, Gatehub reported that about a hundred XRP ledger wallets were hacked on its platform. Up to 23,200,000 XRP tokens were stolen during the incident from 80-90 victims. At the moment, investigations are ongoing.
At the moment, this news hasn’t affected XRP’s Bullish trend. XRP price has struggled to rebound from the bearish trend it entered during the market correction. In the last few hours, the price of XRP has shown bullish movements and it may continue in the short term.
What is the Price of XRP Today – XRP Price Prediction 2019
At press time, XRP is trading at $0.421015 according to Coin Market Cap. The token has a total market cap of $17,783,209,778 with a 24 hour volume of $2,234,317,480.
The price of XRP stood at $0.42 with a 5% increase in 24 hours. It has also seen a sharp shift in price trend. XRP price initially saw an 8.61% increase as it rose to $0.43 from $0.39. this price trend wasn’t sustained for long as it made a corrective drop which eventually landed the price at $0.42.
This marked the end of the fluctuation for the price of XRP. It is now clear that the coin is out of the bearish trendline and in bullish territory. It seems likely to surge further and could touch $0.42 in the short term if this upward swing is maintained.
XRP price has wowed all its community members and is beginning to prove itself as a promising crypto coin. Despite all the negative press the coin has been getting, it has stayed green. While issues like the question “is XRP a security” linger on, the members of the XRP community are convinced that the coin will thrive in the long term. Perhaps it may even soar and reach its XRP price prediction 2019 of $5.
Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.
