Ripple News Today – Yesterday, amid the market wide cryptocurrency recovery, the price of XRP, the third largest cryptocurrency per market capitalization experienced a surge. While it didn’t move at the same pace as BTC, it was in green almost throughout the day. However, as noted in our XRP technical analysis yesterday, XRP was having difficulty stating above the $0.40 level. On several accounts, the price of XRP moved $0.40 but quickly fell quickly to the $0.39 level. Today, the case is worse than it was yesterday as XRP is in red even as BTC records massive gains. What happened to XRP? Is the XRP price prediction 2019 still bullish?
XRP News Today – Ripple News Today – XRP Suffers Losses Amid Bitcoin’s Recovery
Yesterday, as the price of XRP moved above the $0.409 level, traders anticipated that higher highs will come near-term and the cryptocurrency will finally break out of bearish territory. According to our XRP news at the time, the only way to confirm the end of the bear rally near-term was for the price of XRP to move above the $0.4350 level. This is something that is becoming more difficult to accomplish for XRP as time passes.
In the beginning of trading today, XRP opened at $0.400. Unfortunately, XRP fell below this level and has been hovering around the $0.39 level all day. The fact that the token is not rising at the same pace with Bitcoin isn’t a surprise as we have already established that the correlation between BTC and XRP is reducing as time passes. However, good news from Ripple typically increases buying sentiment for XRP. Recently, the company announced that it has invested $500 million in about 20 blockchain firms since the inception of Xpring just about one year ago. The announcement by Ripple’s Xpring was as follows;
XRP (XRP) Price Today – XRP / USD
“Xpring has quickly grown and to date we have committed $500M in support of over 20 companies, ranging from independent developer projects to larger scale partnerships. Our efforts have expanded to focus on two areas: build the best crypto infrastructure through contributions to open source crypto protocols such as the XRP Ledger and Interledger projects; and help innovative blockchain projects grow through partnership and investment.”
XRP News Today – XRP Prediction 2019 – XRP Price Prediction 2019 – Current Price Of XRP
At the time of writing, the price of XRP was $0.397467. This means that it is down by 0.96% against the USD and down by 4.80% against the price of BTC. The trading volume over a 24 hour period is $1,422,780,537 and the market capitalization is $16,918,802,476.
There are many theories regarding why the price of XRP is underperforming. Some members of the cryptocurrency community have said that the price of XRP is undervalued is that Ripple is deliberately manipulating the price of the token for the benefit of institutional investors and at the expense of retail traders. While there has been no evidence to confirm this, Ripple was recently accused of underreporting its removal of XRP from escrow wallets. This was according to data from Coinmetrics. Cryptocurrency analysts have suggested that without this manipulations, XRP has what it takes to sell as high as $10 by the end of 2020.
What do you think about the XRP price prediction in our XRP news today? Does XRP have what it take to ever hit $10?