Ripple News Today – XRP was among the few altcoins that basked in the glory of Bitcoin last week surging higher against the USD as it approached the $0.50 level. It broke several resistance levels as the price of BTC moved above $11,200 in a parabolic bull run. As expected, the bulls retreated dragging the price of XRP below the support levels it formed on its way up. Now, the XRP price prediction and the XRP price analysis on NewsBtc suggests that the bulls have retreated and will not show up fully until the price is able to make its way above $0.50. When will XRP test $0.50 to confirm the resumption of the bull run.
XRP Price Analysis – XRP Price Prediction 2019 – XRP News Today – Ripple News Today – XRP Must Cross $0.50 To Confirm The Return Of The Bulls
From time, Bitcoin has had a strong correlation with altcoins. This is why a surge in the price of Bitcoin is typically followed by a surge in the price of altcoins and vice versa. However, since last year, XRP has been breaking free from Bitcoin’s grip as it becomes more and more of a standalone asset. XRP is now being used as a base asset for most crypto-to-crypto trading pairs just like BTC.
If there is anything that cryptocurrency analysts have agreed, it’s that the XRP token is currently undervalued. Over the last six months, it has been ranging safe for the few times when the price surged significantly. This is why irrespective of all the progress Ripple has made, many investors are still skeptical about XRP. Another reason why investors are skeptical is that Ripple is still fully in control of about 60% of the total XRP in circulation. Even if the company has vowed not to sell all its holdings at once, having that much has raised centralization concerns. Some people have accused Ripple of manipulating the price to favour its institutional clients at the detriment of retailers.
XRP (XRP) Price Today – XRP / USD
Another issue that is a cause for concern within the XRP community is that there isn’t any clear statistics available for OTC trading. This is also another possible reason why the price of XRP is undervalued. The good thing is that as soon as Ripple has fully implemented its decentralization strategy, the price of the XRP token is going to reach its full potential.
XRP News Today – XRP Price Prediction 2019 – XRP Latest Update – Current Price Of XRP
At the time of writing, the price of XRP was $0.460351. This means that it is down by 3.90% against the USD and down by 3.41% against the price of BTC. The trading volume over a 24 hour period is $1,822,864,589 and the market capitalization is $19,595,558,212. If XRP is able to rise above the $0.50 level, we would confirm that the bulls now have control of the market.
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