Ripple Traders Are “Very Bullish” on XRP But Crypto Analyst Predict it Could Still Go Lower


  • XRP/BTC bottom is in but XRP could still go a bit lower
  • Meanwhile, another Ripple killer is here, this time it’s Facebook’s GlobalCoin
  • First of many xRapid corridors, US-Mexico and US-Philippines to go live this year

The third largest cryptocurrency by market capitalization is looking good according to some experts and the price just might see another jump.

Currently, XRP/USD is trading at $0.408 with 24 hours loss of 2.62 percent while up by only 16.23 percent till date in 2019, the least gainer of this year after Stellar (XLM) which is up by about 11 percent.

Traders Bullish on XRP But it could Go Lower

Crypto investor and trader, Credible Crypto is “very bullish” on XRP. However, he had shared that despite being bullish, it is possible we could go lower first and until we make a higher high on XRP/BTC on a higher time frame, he is bearish on the BTC pairing.

In the follow up tweet, he shares the XRP/BTC pairing tested upper TL on Binance exchange and rejected it that indicates if we could go down this is a “good chance” for XRP to do just that in the next couple of days.

Per the latest update, Credible Crypto says according to him XRP/BTC bottom is in. Though XRP could still go a bit lower first, he is bullish overall.

“I think the bottom for XRP/BTC is in. What isn't pictured on the BTC fractal is after the breakdown we grinded lower, not making new lows, and ripping to the upside (3k to 9k) soon after. So very bullish overall, just think we go a bit lower first.”

Just like Credible Crypto, analyst The Cryptomist says, “Expect break of pennant within 5 days.”

Meanwhile, crypto trader and investor DonAlt points out how the retracements made by the cryptocurrency led to a significant move down this year.

Meanwhile, Another Ripple Killer is Here

Facebook’s global crypto cryptocurrency project called Libra is going to render Ripple useless, says Bitcoin advocate, Charlie Shrem. According to him, it is yet another Ripple killer.

“Facebook is launching their global crypto coin called “Libra”. What’s interesting is they are offering companies to pay $10m to become “validators”. If anything, it renders Ripple useless. The first companies to create a LIBRA/BITCOIN exchange will make a killing!”

In a positive note, Ripple has its another Ripple Drop that covered a few crucial points including RippleNet upgrade that allows payments between disconnected counterparties (Multi-hop) and developer toolkits that help partners go live on Ripplenet in days instead of weeks.

The first of many xRapid corridors US-Mexico and US-Philippines will also go live this year.

And $9.5 Million XRP Stolen by Hackers

In another incident, hackers siphoned 23.2 million XRP worth around $9.5 million from GateHub cryptocurrency wallets as cybercriminal compromised about 100 XRP Ledger wallets.

The hackers reportedly used API calls to carry out the attack and GateHub released in its official statement that there were no suspicious logins detected rather increased amount of API calls. This stopped when the platform disabled access to the tokens on June 1st.

Thomas Silkjær, the researcher on the case revealed that ~23,200,000 XRP has been stolen from 80 to 90 victims. Out of which ~13,100,000 XRP has been already laundered through exchanges.

Ripple (XRP) Live 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

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