Even though there is still a lot of uneasy momentum in the cryptocurrency and digital asset industry, things will get very interesting by the look of things. The XRP price is on the rise once again, at least where its Bitcoin value is concerned. Noting any gains in US Dollar value remains an ongoing struggle.
The XRP Price Battle for Control
As is the case for any digital or crypto asset on the market today, finding any market stability will be an ongoing struggle. All of these markets are volatile by default, but the year 2018 has shown there are a lot more price changes taking place behind the scenes first and foremost. This has caused a fair bit of panic and a lot of uneasiness across all markets alike. As such, anything can happen moving forward.
In the case of the XRP price, things are looking a bit interesting. Although there hasn’t been a solid breakout above $0.3 in the past few weeks, but the value hasn’t stayed below that level for long either. As such, one has to wonder how things will evolve moving forward. Today shows there is a slight increase in the XRP/BTC ratio, but a 1.2% decline in XRP/USD. Offsetting that loss shouldn’t be too complicated, but it may take some time to do so.
When looking at social media, there is a big development taking place which is worth paying attention to. Coinone is offering a new service in South Korea which combines the power of XRP in the remittance industry. There have been high hopes for this digital asset when it comes to global money transfers, although this service will primarily focus on South Korea first and foremost.
Coinone Transfer Offers South Korea’s First Blockchain-Powered Remittance Service | Ripple https://t.co/gVJZmorOWJ
— 北尾吉孝 (@yoshitaka_kitao) December 11, 2018
The sentiment regarding XRP is only intensified even further when it comes to sending money around the globe. More specifically, a recent article on The Guardian claims how moving money through banks is both too slow and too expensive. Consumers are better off trying to take a suitcase of cash with them at all times. XRP Can vastly improve on this situation, especially with multiple companies tapping into this asset for this exact purpose.
Melle Zegel is bringing up some nostalgic sentiment by reminding people how the XRP price soared in three weeks during the final month of 2017. Although this was only a year ago, the situation today looks very different indeed. Although there is a very good chance all markets will bounce back at some point, it is increasingly difficult to predict when that will happen exactly.
— Melle (@melzeg) December 11, 2018
Based on the real-world momentum involving XRP, one would expect the market to rebound fairly soon. However, all markets are primarily dominated by speculators and traders, which do not necessarily pay much attention to anything that doesn’t help them take advantage of the asset in question. Stability at $0.3 is a good thing for the XRP price in general, even though it may not be all that easy to come by at times.
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.