What Happened To XRP This Week?
Nov 07, 2018
XRP is once again making headlines and this time around it's about its price and overstanding a place in the market. Recently, there has been a lot of rumours regarding both the short-term and long-term future of the popular cryptocurrency. After months of positive news as the crypto scored major exchange listing, something was bound to happen in the end.
While that swelled up, Ripple, the blockchain startup that created XRP, has been seeing some great publicity in recent weeks. Add this onto that the positive news of XRP’s adoption by a major system like Apple Pay and the result is a bull run. The third biggest crypto is now on a sure but steady rise with some people even suggesting that it could actually be skyrocketing to the ‘moon’.
Earlier in the week, news broke out that XRP would be supported by Wirex as used for an option on Apple Pay. With news like this emerging, the market was bound to have a slight rumble and given the advancements in adoption, the crypto has made over the past few weeks. Overall, the news turned out to be the catalyst which launched the slight bull run. The upscale saw the token gain over 18% which led to it to break into the $0.5 region and solidify a new level of support at $0.53-$0.54. Nevertheless, many traders expect this price to skyrocket even further and there are some analysts who put XRP’s final point at $10-$15 by the end of this year!
Even so, we haven’t forgotten that XRP has previously set out on its own bull run and later dropped back to support levels. But there’s always hope that this time will be different. Given the predictions from various crypto experts and the general mood in the market, the token might be heading for greener pastures this time. The timing is in favour of this prospect too with people anticipating a huge market rally that is most likely going to happen during the final months of the year.
Also, it’s worth noting that XRP’s change in the market has positively impacted its market cap. And then the digital currency then beat Ethereum in the same way.
What are your thoughts? Let us know what you think down below in the comments!
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