Is Ripple (XRP) “Security” Question Out? XRP Cryptocurrency Coin Price is Up 44.7 Percent


Today’s Latest Ripple (XRP) News Updates and Analysis

Well, the Ripple community and in particular, the XRP Army are ecstatic. Coinciding with the Stock Market slump, Trump decision to pump up the pressure on China and the rally of Bitcoin and other asset prices, Ripple (XRP) bulls are back. But, this hasn’t been the case in the last six weeks.

Read: Bitcoin Beats S&P 500 by 105% while Ripple’s XRP is Today’s Highest Gainer with IOTA in Tow

For what is clear-even from the charts, is a consolidating, 10 cents ranging asset. Prices were moving within tight ranges that some analysts have been comparing the world’s third valuable asset to a stable coin thanks to its low volatility.

However, volatility is back and behind it a conviction of ramping up as bulls flow back, jerking up prices from Q1 2019 lows of 30 cents. Behind this expansion are theories as traders, analysts and investors try to explain the sudden double digit, 44.7 percent surge.

Also Read: Ripple’s XRP Now Eligible For CoinBase Users In New York to Buy, Sell, Send and Store

Of the many, news of CoinBase Pro allowing trading of the asset in New York is a testament of XRP’s utility. Through tweet, the San Francisco exchange said XRP will be available for trading, three months after listing the asset and later availing it for trading via its retail platform.

The fact that XRP is now available for trading at one of the strictest state in the US is stabilizing. Besides, it could mean the asset, even without the US SEC clarifying, is not a security or an investment asset compliant with stipulations of the Howey Test.

XRP/USD Price Analysis

XRP

At the time of press, Ripple (XRP) is up 44.7 percent in the last week. Because of yesterday’s surge, the conditions of our previous XRP/USD trade plans are valid and buyers are back in charge. It is not hard to see why.

Apart from the positive reaction of XRP prices from Q1 2019 lows and main support at 30 cents, there is a double bar bull reversal pattern of Apr-25-26, series of higher highs and then yesterday’s take-off that all but cements our position that XRP is bullish but under consolidation.

Although risk-off, aggressive traders can load up on dips, fine-tuning their entries in lower time frames; risk-averse, conservative traders can load up once there is a high-volume break above 43 cents. That would entail a bullish breakout, a break from a half-year consolidation that would trigger participation that may pump prices towards 60 cents or Dec 2018 highs and towards 80 cents or Sep 2018 highs in a retest phase. It will be interesting to see how XRP fares with the recent rise of Bitcoin's price as well.

XRP’s price is $0.25 XRP/USD exchange rate today. The real-time XRP market cap of $10.67 Billion currently ranks #4 with , daily trading volume of $186.84 Million and live coin value change of XRP 2.46 in the last 24 hours.

Live Ripple (XRP) Price:

1 XRP/USD =$0.2464 change ~ 2.46%

Coin Market Cap

$10.67 Billion

24 Hour Volume

$186.84 Million

24 Hour VWAP

$0

24 Hour Change

$0.01

All Charts Courtesy of Trading View—BitFinex

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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