We came into the last weekend of April hoping for big things. Overall, the markets did see a positive few days with Bitcoin breaching $9,000.00 and EOStopping it’s all time record, XRP however has been far from the limelight.
This seems to be a rare case for a currency that has of course experienced some very positive speculation over the past week weeks. Okay so I may be being slightly pessimistic, XRP isn’t doing terribly, compared to a few weeks back the value of the currency is well up. It is however disappointing to see that XRP not only didn’t perform as well as it’s rivals, it didn’t really perform at all, off the back of a small market surge.
XRP entered the weekend at $0.82, and did, by Sunday see a rise up to $0.90, this jump however remained to be quite short lived. At the time of writing, Ripple XRP is valued at $0.848 and is down 1.53%.
We should consider that this time last week, XRP was approaching $0.95, as recorded last Tuesday. During this time, the community truly believed Ripple would finally hit $1.00, evidently though, this was not the case, perhaps $1.00 is far more resistant than we first thought?
Not all hope is lost here. We might be seeing XRP on a slight decline but overall, the entire market is down. This is no doubt as a result of inevitable correction after another good weekend. Track back slightly further and it also seems that the Mt.Gox coin dump may also have had a negative impact on the value of XRP, since it is around this time that the value of XRP started to decline from the $0.95 target. If this coin dump didn’t take place, could XRP have finally hit $1.00?
Who knows. Regardless of this though, the correction period should only run for a limited time, therefore once again we should see the markets climb back up. XRP needs to breach $0.90 and remain at this point, maintenance here will see XRP climb straight past $1.00 soon enough. After this target is met, some investors may wish to drop out and sell on, others though resonate a very strong feeling within the Ripple camp. People have a lot of belief in XRP and Ripple’s technologies. A belief that the technology will accelerate XRP into the mainstream. When this happens, it’s true value will be unveiled.
Overall, we are still uncertain about how XRP will perform over the next few days. Our advice is to wait and see what happens, if this correction subsides then perhaps $1.00 will be back in reach. If this correction carries on, then maybe it isn’t a correction after all, maybe this is something we will be investigating further over the week. Remember, do your own research and trade well. It’s looking a bit uneven out there at the moment.