The bearish pressure continues to mount across all crypto markets. This is not entirely surprising, as it has been brewing for quite some time now. The XRP price, for example, is losing a lot of ground fairly quickly. This is primarily because its overall trading volume has receded in the process, which is never a good sign.
XRP Price Faces a Fairly big Struggle
Although the year 2019 was off to a pretty good start for more cryptos, tokens, and digital assets, the momentum can always turn around on a dime. A few days of ongoing bullish pressure now culminate in a correction of sorts for all markets. XRP is not an exception in this regard, as its value is declining pretty quickly. For now, it remains to be seen if the $0.32 level can be supported in an official manner.
Over the past few hours, the XRP price has lost 2.4% in USD value. Not the biggest decrease traders and holders have seen in the past year, but still a bit worrisome after the promising run this week. Because of this dip, the value per RP now sits at $0.3202. There is also a 1.6% drop in XRP/BTC, down to 8,114 Satoshi.
While some people may expect a lot of whining on social media, that is not necessarily the case Bank XRP shared a video which has seemingly gone by unnoticed for a long while. It appears Euro Exim Bank’s Graham Bright attended the Ripple Regions: Europe 2018 event last year. While this has been a while in the past, the information in this video can still be very valuable to the right people.
Graham Bright (Euro Exim Bank) at Ripple Regionals: Europe 2018https://t.co/RncZQ12IGq
— 𝗕𝗮𝗻𝗸 𝑿𝑹𝑷 (@BankXRP) February 21, 2019
XRPBoy is also quite happy with XRP as a whole, regardless of what the current price may look like. In fact, he expects the vision of Brad Garlinghouse to come true. JPMCoin will not necessarily pose real competition, according to Brad. It is a very different type of asset compared to Ripple’s, albeit they will seemingly coexist in the very near future.
#HODL #XRP all the way to #xrpthestandard #Crypto fans, just you wait …but don’t wait too long to hop on the 🚂— it’s coming! 😉💧🌎 @bgarlinghouse 👍 (I’ve been going through some of your quotes … you’re a wise man and not just when it comes to #digitalassets onward! pic.twitter.com/9okYLf4wVh
— XRPBoy✖️®️P 💧🤞✌️❤️ 🌏 (@XrpBoy) February 21, 2019
There is still a lot of dismay when it comes to Coinbase’s attitude toward Ripple’s XRP asset. While the company has zero intention to list this asset, it seems there are some conspiracy theories brewing already. Cryptoverify, for example, expects Coinbase to trade JPMCoin rather than XRP. A bit of an odd and unfounded statement, although one that will spark some discussions regardless.
Listing XRP… pic.twitter.com/bBWEU3BTBM
— #Cryptoverity (@Cryptoverity) February 21, 2019
What is a bit odd about XRP right now is how its overall trading volume fails to impress. Although $644.5m is nothing to sneeze at, it pales in comparison to other markets. All of those competitors seemingly noted some increase in volume, whereas XRP has remained at a standstill. For the time being, it remains to be seen how this will evolve in the coming hours. The bearish pressure is not as intense as a few months ago, after all.
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.