Another day dawns upon the cryptocurrency ecosystem and it seems things remain in the green, for now. A lot of eyes are still on XRP after yesterday’s massive uptrend. Those gains are still in place, though XRP has come up short of overtaking Ethereum in terms of market cap for more than a few hours.
XRP Price Rise is far From Over
After what happened throughout most of 2018, it is all the more surprising to see XRP continue its uptrend at this time. Not because the asset isn’t valuable or even undervalued, but rather because this year hasn’t allowed for any major uptrend which lasted for over a few hours.
With yesterday’s price gains still in play, things have taken a very interesting turn where XRP is concerned. Another 1% gain has formed on the charts in the first few hours, albeit there is some concern in the BTC department. A minor setback against Bitcoin is not something to be overly concerned about, but it is not promising either. XRP will need to remain above 8,000 Satoshi to stay above $0.5.
As is usually the case when XRP gets momentum, there will be some pieces of information to disrupt things. Swift, often considered to be one of Ripple’s major competitors, has made it clear they are not interested in partnering with Ripple or using any of its products. That is not entirely surprising by any means, primarily because Swift is confident they can remain the top dog without too many problems.
In other news, it would appear XRP is getting a bit more liquidity across different exchanges and trading platforms. XDAEX, for example, has resumed XRP trading this week, and users can exchange this asset against both Bitcoin and USDC. This is another interesting development, as more and more exchanges pay attention to this digital asset as of late.
Another exchange is paying attention to XRP, as the platform will offer XRP/USD and XRP/BTC trading. CGCX is a Singapore-based exchange which offers fiat to fiat and crypto to fiat trading alike. By actively supporting XPR among other currencies and assets, the company will undoubtedly get some attention moving forward.
@CGCXofficial is Singapore's First Insured Hybrid Exchange which offers fiat to fiat & crypto to fiat trading.#XRP/USD & XRP/BTC is listed in CGCX, and user can deposit or withdraw USD, SGD or cryptocurrencies!!!
— 🐼PandaRippleXRP🐼 (@RipplePandaXRP) November 7, 2018
All of the current momentum seems to indicate there may be future XRP price gains on the horizon. A push to $0.55 is not impossible by any means, although it will mainly depend on whether or not the asset will continue to lose ground against Bitcoin. Its trading volume has surpassed $1.18bn again, which is a rather bullish sign under the current circumstances.
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.