Is the Best Performing Crypto Asset of 2017 Finally Ready to Take Flight
- XRP bear market coming to an end?
- xRapid starting to see some action
The third largest cryptocurrency, XRP isn’t doing well since it dropped from its all-time high $3.84 at the beginning of 2018.
While the world’s leading cryptocurrency, Bitcoin surged more than 170% in 2019 till now, XRP recorded negative returns of 22.37% during the same period.
XRP/USD is, in fact, down 93% from its ATH, currently trading at $0.273.
Interestingly, the digital asset has been the best performing cryptocurrency of 2017 with roughly 36,000% gains.
XRP Bear Market Coming to an End?
One of the worst performing top cryptocurrency of 2019, however, might be getting ready for a spike soon.
Analyst and XRP proponent, Magic Poop Cannon claims, the digital asset has “one of the most bullish technical charts,” that he has ever seen and is currently in a “titanic uptrend channel.”
His analysis is based on the midline in the upper and lower trendlines of the channel, that he says has been “in the making during the entire existence of XRP.”
Though it is an “assumption” and XRP could very well break the channel and collapse, on the basis of historical performance, the digital asset is currently holding around the bottom and its “bear market has just ended.”
$XRP keeps me excited. Renko forming a bottom, huge momentum decline and divergence from bears into the bottom formation. Guppy flipping over. I want to see this do at least 75% over the coming weeks. Meme now, apologize later. pic.twitter.com/06IUIgRAAf
— Cold Blooded Shiller (@ColdBloodShill) August 23, 2019
Popular trader, Credible Crypto is also bullish on XRP but not before it makes a “larger eg down” on BTC to retest the lows just like Bitcoin did during its 2014-2015 cycle.
Hello $XRP we meet again. I wasn’t really paying attention but the price bounced from a Gann level right on the end of a cycle (8/12). But hey it is still early to open a nice long. #Gann pic.twitter.com/TTiotodcY1
— Mitoshi Kaku 👨🏻🚀 (@CryptoSays) August 23, 2019
xRapid starting to see some action
As XRP losses a major chunk of its value, traders have turned bullish feeling that the time might have come for the digital currency to finally make its move to the upwards.
However, not everyone is bullish.
— Peter Brandt (@PeterLBrandt) August 21, 2019
Meanwhile, XRP-powered xRapid has started to see some action as MoneyGram goes live with Ripple’s transaction product in Mexico and Philippines corridors. This led XRP trading volume in Mexico-based registered exchange Bitso seeing a surge of 25%.
Moreover, Ripple is adding up new partners while incumbent ones are opening up new corridors, driving adoption.