These are very interesting times for all cryptocurrencies, tokens, and digital assets. Although the current momentum doesn’t seem to favor either type right now, there are still high expectations associated with the XRP price. So far, most of those expectations will need to be kept in check first and foremost. Additionally, it seems the war between Ryan Selkis and the XRP community is far from over.
XRP Price Loses Slightly More Ground
For those people who expect XRP to hit $5 in the near future, that might not necessarily happen anytime soon. It is not impossible by any means, yet it appears Ripple’s native asset cannot put together an uptrend at this time. In fact, the value continues to drift lower every week, as the $0.3 level will seemingly come into play very soon. It is a very bearish trend, yet one that also affects all other top markets right now.
Over the past 24 hours, the XRP price lost another 18% in USD value and 1.4% in BTC value. Because of these declines, one XRP is now priced at $0.31 or 8,662 Satoshi. It is especially this latter part which seemingly has a lot of traders concerned. It would be a good time for markets such as XRP to finally recoup some losses in Bitcoin value, yet that appears to be a bridge too far.
One peculiar development affecting this asset is the “issue” surrounding Ryan Selkis. Better known as TwobitIdiot on Twitter, he claims the XRP community is trying to get him or his family swatted, While still unconfirmed, it appears the situation is escalating. The Cryptoe Man clearly thinks Selkis is making things up. There is some genuine beef between the community and one of Ryan’s Ripple-related articles, yet resorting to swatting should never be condoned.
Hi @twobitidiot I'm giving you 48 hours (same time you gave ripple to respond) to provide proof you
A) got a phone call
B) you have proof you went to police
C) it was from someone who supports xrp
Or it didn't happen
— Cryptoe Man (@CrypToe_Man) January 27, 2019
In slightly more positive news, Ryder would like to point out how ironic the behavior of banks toward cryptocurrencies and XRP is at this time. Even though financial institutions seem keen to explore XRP-related business opportunities, they are also on the verge of making themselves obsolete in doing so. That will only happen if enough people learn about the concept of a private key, let alone care about what it can do in terms of financial freedom.
For those who aren’t too interested in buying and holding XRP, there is another viable option to make money. Arbitrage trading is always a lucrative option to explore. It seems there are numerous price gaps for this asset between different exchanges right now. That is pretty interesting to take note of. It also allows for some easy profits, depending on platform liquidity.
Buy at #KuCoin and sell at #EXMO. Ratio: 3.85%
Buy at #Bitexen and sell at #EXMO. Ratio: 3.45%
Buy at #HitBTC and sell at #EXMO. Ratio: 4.16%
Buy at #OKEx and sell at #EXMO. Ratio: 4.02%#bitcoin #arbitrage #arbitraj #arbingtool https://t.co/xiFUPzcOcC
— Arbing Tool (@ArbingTool) January 27, 2019
Keeping all of these developments in mind, it is evident this market will remain of great interest. Although the swatting allegations cannot be taken lightly, it seems unlikely that will affect the price in any way. Even so, it is a blemish on the reputation of the entire project, regardless of how one wants to look at it. A more than unfortunate development, to say the very least.
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.