A lot of exciting price momentum is forming across the cryptocurrency and digital asset markets. Although this momentum is still in the process of materializing in a significant manner, there is a reason for some cautious optimism. For XRP holders, things are looking up once again, although it remains to be seen what the future will hold moving forward.
XRP Price Makes Another Attempt at $0.55
For several weeks now, there has been a push to elevate the XRP price to a new level. Now that price stability above $0.45 has been in place for some time now, it is time to look toward the future. Pushing XRP to $0.55 or potentially beyond will be a pretty big challenge, even though there is plenty of reason to be quite happy with the way things look right now.
In the past 24 hours, there has been a 4% increase in XRP’s USD value, as well as a 3.5% gain over Bitcoin. This seems to indicate XRP should surpass the 8,200 Satoshi level once again in the coming days, albeit one never knows what the future will hold in this regard. Bitcoin is still on shaky legs, and it remains a strong market indicator for all other currencies accordingly.
Looking at social media, it would appear Brad Garlinghouse is spreading the word on XRP and Ripple once again. He is on a panel to discuss use cases for blockchain at a conference currently taking place. That is a pretty interesting development, as it seems Garlinghouse is trying to persuade IMF Deputy General Ross Leckow about his company’s potential.
— Warren Paul Anderson (@warpaul) November 12, 2018
At the same time, there are those who continue to refute the potential of either Ripple and XRP moving forward. Victor Erem is confident no one is interested in this digital asset. Instead, the entire supply is slowly being sold off to “clueless retail investors”. A bit of an odd look at things, albeit it is safe to assume Erem isn’t the only one thinking along these lines.
Wrong. No banks are interested in Ripplecoin. All XRPs are sold to clueless retail investors…
— Victor Erem (@VictorErem) November 12, 2018
Any positive development affecting XRP’s price is received with joy among holders and speculators. TweetyCrypto seems happy things are heading in the right direction again. While it is still too early to talk about an actual bull run involving XRP, the current momentum – brittle as it may be – cannot be ignored.
— TweetyCrypto (@TweetyCrypto) November 12, 2018
The way things look right now, any cryptocurrency can start gaining a ton of value when people least expect it. NEM is doing exactly that, and the XRP price is seemingly heading down a very similar path. If this momentum can be sustained moving forward, there is a very real chance the value will surpass $0.55 fairly quickly. Remaining at or near that level, on the other hand, is a different matter altogether.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.