XRP May Soon Explode Against Bitcoin, Analyses Show
Over the past few weeks, all cryptocurrencies — from Bitcoin, Ethereum and XRP to Digibyte, Waves, and Electroneum — have surged higher, gaining dozens of percent apiece as buying pressure has washed over the cryptocurrency market.
Altcoins have interestingly taken the front seat in this recent surge, seemingly denying a trend of Bitcoin-first price action over the past year.
This market price action, per CNN-featured cryptocurrency analyst Luke Martin, has allowed XRP’s pair against Bitcoin (XRP/BTC) to retake a key support level, which it has sustained for five days in a row. This pivot purportedly is “bullish,” meaning Martin is “expecting outperformance.”
It isn’t only Luke Martin that has pointed out the XRP/BTC trading pair is looking primed to break upwards.
Per previous reports from Ethereum World News, Michael Van De Poppe, contributor to CoinTelegraph and a trader at the Amsterdam Stock Exchange, revealed in a TradingView post published Wednesday that he expects for XRP/BTC to soon explode 170% higher.
He noted that the pair is on the verge of breaking out of a downtrend that has constrained prices since the start of 2019, before adding that XRP has held a very important historical support level against Bitcoin, suggesting bullish strength.
Poppe’s chart also pointed out that the recent price action is eerily reminiscent of an XRP/BTC break out in 2018, suggesting that a surge of dozens of percent can be had if history repeats itself.
XRP/USD Performance a Different Story
Although the prospects for XRP/BTC are looking positive per the above analyses, the outlook for the cryptocurrency’s performance against the dollar is looking harrowing.
A trader recently said on Twitter that it is “difficult for me to be bullish on Ripple right now.”
Backing his assertion, he looked to a chart of XRP against the U.S. dollar on a monthly basis. The trader depicted that despite the recent 35% surge off local bottoms, prices not seen in years, the cryptocurrency remains decisively below a key resistance that has been absolutely essential for the asset’s past two to three years of price history.
What’s more, it was actually rejected at the resistance level, suggesting the macro bear trend for XRP remains intact.
It is important to note that even if the cryptocurrency falls against the dollar, it can still rally against the dollar.
Photo by KaLisa Veer on Unsplash
Does Crypto Need banks? Ripple CEO Brad Garlinghouse is Optimistic
- Weiss Crypto Ratings had mentioned the tweet of the CEO of Ripple, wherein the CEO said that we need to involve bankers in the talks in Crypto.
- Weiss Crypto Ratings had, in a way mocked the Ripple CEO by strongly going against him and saying that we don’t need to involve bankers at all.
- The future with cryptocurrencies and blockchain has a million possibilities.
Weiss Crypto Ratings, the provider of ratings for various investment options, had tweeted their strong faith in the cryptocurrencies. Weiss Crypto Ratings had mentioned the tweet of the CEO of Ripple, wherein the CEO said that we need to involve bankers in the talks in Crypto.
Weiss Crypto Ratings had, in a way mocked the Ripple CEO by strongly going against him and saying that we don’t need to involve bankers at all. They will soon take over all the traditional banks.
Ripple, a blockchain company based in San Fransisco, is recognized as one of the most significant companies which offer cross border payment in the finance sector. It is for sure a very strong move by the Weiss Crypto Ratings’ official twitter account.
There has been a lot of talk on the topic, whether the Cryptocurrencies will take over banks or not. All the answers to this question are based on people’s opinions and on the present-day any answer to this question can’t be taken as what will actually happen in the future.
The future with cryptocurrencies and blockchain has a million possibilities. And it can be said that the future will mainly depend on how cryptocurrencies are accepted in various parts of the world.
There have been news releases that even central banks of almost 60 percent of countries in the world are either already working on or are making plans to start the works soon on creating a digital version of the national currency. The banks also have said that they would want to roll out something in the short term itself.
Cryptocurrency has proven to be highly useful and secure as it is based on blockchain technology and gets stored on various digital wallets of its users. This clearly seems to have made an impact on how the banks around the world are planning for the future as a lot of them have already started works on their own digital currencies.
It is shocking to see that the banks are even talking about it openly, which can be taken as a sign that the banks are also worried and think it is possible for Crypto to take over them.
Ripple News Today – XRP Community Suggests an XRP Token Burn To Boost Price
- XRP burn needed to push XRP price upward
- XRP Price Update –Is the surge to $0.30 in the short term attainable?
- XRP/USD Price Update – Will XRP bulls retest the $0.30 before the end of February?
XRP all-time high – The bid to burn 25% of the token in circulation by the XRP community is as a result of the sustained sluggishness of the XRP market. XRP News Now – according to insight from a trader with the username DanRocky on Twitter, he plans to attain a surge in XRP price via this means. According to DanRocky, this plan came to him after the report of crypto company Bitrue on BTR token burning. XRP News Now – The Twitter post has ignited a hot discussion amidst members of the crypto community. Although, not everyone is on the same page with this suggestion.
Ripple News Today – Previously, the XRP token was able to surge one point higher and exceeded ETH. In addition to XRP price variance, according to a Twitter post, the centralization of the asset by Ripple will also decline after the coin burning event.
XRP Price Update –is the surge to $0.30 in the short term attainable?
XRP Price Prediction 2020 – Even with the fast growth of the crypto market, there has been some variance in the price movement which has kept the major 10 tokens in the bullish zone. XRP daily – LTC is the major gainer so far with its market price surging by almost 7% over the last day. Generally, XRP price has declined by about $0.10, with a market cap of $12 040 521 791.
XRP Price Prediction 2020 – Ripple XRP price Forecast 2020
XRP USD TradingView – XRP currently has a trading price of $0.2751, with a 24-hour trading volume of $2 927 099 042, and a 24-hour change of 3.36%. XRP all-time high – traders have so far continued to press and pressure the price of the XRP token to the lower zone of the mounting green channel. Though the support level at $0.266 was able to sustain the XRP/USD pair from declining to the $0.236 level.
XRP/USD Price Update – Will XRP bulls retest the $0.30 before the end of February?
XRP Prediction 2020 – due to the buying pressure from traders, the XRP price has been shoved back into the bullish zone and it is trying to reinstate the XRP/USD pair to the average price level during the day. XRP daily – Should the reinstatement of the resistance of the two-hour moving average fails, the XRP price will seek for support at the $0.28 level to consolidate.
XRP (XRP) Price Today – XRP / USD
XRP USD TradingView – on the upside, the price movement on the XRP token is less positive. Even though XRP price encountered some price corrections amidst its growth, a massive price decline is yet to be seen. Hence, the closest XRP price prediction 2020 is a decline to the liquidity level of around $0.25 level until the end of February.
RIPPLE LAUNCHES NEW XRP FRAUD REPORTING PROCEDURE
- FRAUD CAN BE REPORTED, BUT FUNDS NOT REVERSED
- RIPPLE PUSHING TO BECOME LEADER IN FINANCIAL SPACE
The company has created a page on its website where foul-play can be reported. This move represents the increasing attempts by Ripple to establish itself as a key player in global finance.
FRAUD CAN BE REPORTED, BUT FUNDS NOT REVERSED
The reporting website gives consumers the ability to make the company aware of fraudulent behavior involving the XRP token. This behavior could include theft, scams, or unauthorized gateways/exchanges.
The site makes clear that Ripple cannot reverse transactions, owing to the decentralized XRP ledger. Also, XRP users are not Ripple customers. Thus, an “unusual activity report” can be used to help identify and stop fraud, but not necessarily compensate victims.
Interestingly, Ripple encourages users to report “potential sanctions violations, money laundering, unauthorized transactions and/or other financial crime.” In other words, it calls on the Ripple community to self-police, and inform the company of possible illegal activity. This fact underscores the close relationship between Ripple and XRP use, and the company’s firm desire to prevent any foul play with the token.
RIPPLE PUSHING TO BECOME LEADER IN FINANCIAL SPACE
This move is the latest in a series by Ripple in its goal of becoming a key player in global finance. The company has long asserted that it has major plans for expansion. CEO Brad Garlinghouse recently compared the company to Amazon, and noted that moving forward it would explore other services beside cross-border fiat transfers.
To achieve its goals Ripple will need cooperation from regulators, politicians, and law enforcement on a scale yet to be seen in the blockchain sector. In this context, opening up a tool for fraud reporting, and demonstrating a strong willingness to fight crime, is a sensible move. 14 BTC & 30,000 Free Spins for every player, only in mBitcasino’s Crypto Love Affair! Play Now!
Importantly, Ripple has not drawn the ire of the leaders that it needs to win over. For example, unlike Facebook’s Libra, which has been met with a torrent of opposition from world leaders, Ripple has received almost none despite being just as disruptive.
Ripple’s position is, however, controversial among crypto advocates. Many blockchain purists have long criticized the company for its willingness to work with banks and regulators, asserting that the technology is designed to replace these institutions, not compliment them. Ripple and its executives disagree, claiming that cryptocurrency can only achieve mainstream use if it cooperates and enhances the existing financial infrastructure.
Regardless of what one thinks of Ripple’s vision, its success in the blockchain space is without dispute. It now counts over three hundred banks as partners, and experienced over 500% growth in the fourth quarter of last year alone.