Hate it or Love it: Ripple’s XRP Price Chart Looks Amazing & its Going to Take “Flight”
- For altcoins bull market, XRP price chart needs to break out to the upside & XRP did
- “If you love money, you should be interested” in XRP: Crypto trader
- Japanese financial giant SBI Holdings pushing XRP to institutional clients
- Bitspark: Ripple gateways not using XRP for its intended purpose
The third largest cryptocurrency by market capitalization is enjoying the greens as it surges to $0.47. This surge is the six months high Ripple’s XRP has achieved as it rides the bull run currently ruling the market.
At the time of writing, XRP/USD has been trading at $0.464 with 24 hours gains of more than 7 percent. Currently, it is managing the daily trading volume of $2.8 billion, the 7th highest trading volume in cryptos, according to Coinmarketcap and $331 million, as per Messari’s Real 10 where this is the 3rd highest after Bitcoin and Ethereum.
In the month of May, XRP finally started registered gains as it first went to $0.327 on May 11 then above $0.48 on May 16th. Now, since May 26th, XRP has yet again found momentum at $0.377. XRP 2.46
In the past 30 days, XRP has surged 53 percent while up only 31 percent till date in 2019.
Crypto trader and analyst DonAlt says in altcoin majors, Ethereum and XRP “looking promising” against the BTC and he is long on both the cryptocurrencies. Though XRP is lagging, he is hoping for it to catch up to the trend.
In a separate tweet, the analyst said that in order to be in an altcoins bull market the XRP price chart needs to break out to the upside from the triangle which the cryptocurrency did.
Ladies and gentleman, we have liftoff.
My XRP family – I'm happy you've chosen to travel with Duck Airlines today.
Fasten your seatbelt and enjoy your flight. pic.twitter.com/kFV2F2TMob
— DonAlt (@CryptoDonAlt) May 30, 2019
Crypto trader, Scott Melker also sees a bullish potential as he says, “If you love money, you should be interested.”
Weekly view: Bullish. Hate on this coin as much as you want, but it should not matter to you as a trader if this is $XRP or $PEE. The chart looks amazing – if you love money, you should be interested. pic.twitter.com/fWOqL6fxNj
— The Wolf Of All Streets (@scottmelker) May 29, 2019
Apart from XRP price, several developments are also taking place. One of such development is the Japanese financial giant SBI Holdings pushing Bitcoin, Ethereum, and XRP to institutional clients.
Additionally, Dubai-based BitOasis has been granted a preliminary license by the United Arab Emirates that will make it the first regulated Bitcoin exchange in the Middle East that also offers XRP trading. The firm has its presence in the UAE, Kuwait, Bahrain, Oman, and Saudi Arabia.
In Ripple’s latest insight blog, BitOasis exchange CEO shared how the largest exchange in the UAE “firmly believes that in the next five-to-ten years, assets – physical or digital, including money – will all be tokenized and the ownership of those assets will be represented on a blockchain or public ledger.”
The exchange is also positioning itself as a bridge between traditional financial services and the future of blockchain-enabled financial services. Interestingly, Digital Current Group and Pantera Capital both the funds have invested in Ripple and BitOasis.
Meanwhile, Bitspark releases its research where it says Bitcoin is a better currency for cross-border transmission than XRP which is considered less liquid against many fiat currencies. xRapid and xCurrent solutions also got low grades due to their low liquidity.
“The number of Ripple gateways that exist hasn't changed in four years and basically consists of bitcoin exchanges for people to speculate on the price of XRP for BTC,” the head of Bitspark George Harrap said. “None of these companies are remittance companies, nor are they using XRP for its intended purpose.”