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XRP Price Fails to Hang on to $0.4 but Uptrend Isn’t Broken

It has been a very interesting day for all cryptocurrencies, tokens, and assets. Although the big gains are literally spread out across the board, the XRP price has noted some incredibly bullish momentum. It even surpassed $0.42 at one point, although the trend has calmed down a bit. The ongoing mirroring of Bitcoin’s price trend could negate the remaining gains rather quickly.

Where is the XRP Price Headed?

A very peculiar albeit somewhat predictable trend is forming across all markets. Bitcoin’s bull run is showing signs of slowing down, which will inevitably allow altcoins to reclaim some lost value in the process. As far as XRP is concerned, the market seemingly couldn’t care less about what is happening to Bitcoin. This popular asset has engaged all of the pumps in a rather convincing manner.

XRP (XRP)
0,396480 USD (20,78%)
0,00005067 BTC

MARKET CAP

$16,71 B USD

VOLUME

$5,49 B USD

Powered by CoinMarketCap

To put this in perspective, the XRP price has risen by 19.2% to $0.391241. This is not the highest value XRP has reached today, albeit the top at $0.42 was not sustainable for more than a few hours on end. Traders will also be pleased to learn the XRP/BTC ratio has finally shown signs of improvement. An 18% increase pushes the ratio back to 4,950 Satoshi, albeit temporarily.

It is always difficult to determine if there is any specific reason for this market push. One thing is certain: Coinbase users in New York can now buy, sell, and convert XRP through the trading platform. The same functionality is available across the mobile apps for iOS and Android as well. A positive development for New York-based traders, who are often left out in the cold.

 

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