In the world of cryptocurrencies and digital assets, a lot of interesting things are happening lately. Most of the top markets remain subdued, and XRP is – once again – no exception in this department. The asset continues to struggle for price stability, as $0.5 remains a level of substantial resistance. A few interesting days may loom ahead for XRP, although the price impact may be minimal.
XRP Price Can’t Escape the $0.5 Level
Earlier this week, it seemed to be a matter of time until XRP broke through to $0.55. As has been the case more often than not throughout 2018, no uptrends can be sustained for more than a few hours. For XRP watchers, this means the wait for a price above $0.5 is still far from over, although things are not looking all that bad either.
Over the past 24 hours, there has been a small downtrend for XRP in both USD and BTC value. The asset lost 2.2% in USD value, primarily because XRP dropped by 1.9% against Bitcoin. This latter part has been a major struggle for XRP this year, as maintaining control over the 8,000 Satoshi level is not as easy as initially assumed. As such, the current Bitcoin price slip drags everything else down with it once again.
There is some good news which could give the XRP price a healthy boost in the coming days. First of all, Paycent is adding XRP support to their platform come December 2018. This will let users spend these funds through the native app, or convert it to fiat currencies using their native Paycent card. Another major use case for this asset, as it continues to gain traction in the payment card industry lately.
Second, it seems the mainstream media in the UK is showing XRP some love these days. The ongoing “spat” between Ripple and Swift makes for some interesting headlines, for rather obvious reasons. Although the impact by the media has certainly diminished over the years, this is still a promising sign regardless.
Ripple is starting to pop up in the mainstream newspapers over here in England.
— Jan Bogdan 🟦 (@JanBogdanMedia) November 13, 2018
Every cryptocurrency or digital asset needs a meme now and then. In the case of XRP, a cat meme will do the trick nicely. Although this meme will not necessarily convince SBI to officially use xRapid in a live manner, the sentiment is rather clear. The impact of xRapid on the actual XRP price remains difficult to predict, though.
Although there are interesting things going on behind the scenes, the XRP value is not evolving in a similar direction. While that is not uncommon by any means, it will certainly put some holders and speculators on edge. For the time being, it seems no real uptrend will materialize for more than a few hours, although the week isn’t over by any means.
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.