The digital asset market was recently hit by reports that Binance will stop trading for U.S. users on its platform. This news hasn’t been positive for the space. It has brought speculation that the price of several tokens will be affected by Binance closure. Another issue is the Facebook GlobalCoin. Some experts believe it’s been designed as a distraction from BTC. Others believe Libra is a threat to the major digital assets on the market. Our focus today will be XRP. The price of XRP has now touched the $0.41 position after a five-day struggle.
Cryptocurrency Market Update: XRP Price Target is Unchanged at $0.75
Via the chart highlighting trading for the XRP/USD pair, the 2019 price target for XRP is still unchanged at $0.75 with momentum set to cross $0.50 USD by next month.
XRP has made a journey to provide the world with an alternative to the already existing conventional financial system. Although the digital asset saw its best days 1 year ago when it’s price touched $3.5 the current progress is noteworthy as well. After struggling in the digital asset market to touch $0.41 for the last five days, the virtual coin finally managed to achieve its goal. Despite the fact that the growth hasn’t been significant, it is probably going to be sustained.
In the last seven days, particularly June 10, the XRP price was traded at $0.38 and soon regained its momentum. In the past 24 hours, XRP has been growing at a stable pace with one exception when it displayed an unprecedented steep fall. The medium-term outlook remains bullish for XRP. The year ending value is likely to remain at $0.75. Find XRP’s current details below.
Cryptocurrency Market Update: XRP’s Current Details
XRP had a 24 trade volume of $1,349,019,400 at press time. The coin was trading at $0.433487 with a total market capitalization of $17,398,594,599 and total circulating supply of 42,501,950,124 XRP according to CoinMarketCap.
XRP started the year with a moderate value. Although it couldn’t sustain the momentum for a very long time. As at January 29, XRP traded at $0.2926, which is the least point for XRP this year. By the final week of March, the XRP price showed some strength. Within an 11 day period, XRP price gained 19.76%. The moment the April boom ended, XRP’s value fell by 20.09% in only 18 days to reach $0.2926 on April 25.
Cryptocurrency Market Update: XRP Price Comparison
A major growth position can be noticed after the opening week of May, especially on day 9. At that point, the coin started to see gains. It eventually stopped on May 15 after gaining 52.58%. XRP’s market cap as of May 16 was $17,508,881,460 and the price of XRP was $0.4231969. The current market capitalization of XRP and the price of the coin against the USD are 0.62% and 2.10% less when compared to the values from last month.
For the medium-term outlook, the price of XRP is bullish. By this year-end, the coin is more likely to reach $0.75 USD target. Buying fresh XRP tokens is advised in the event that there’s a long-term holding target. The coin is likely going to give 100% returns by quarter one of 2020.