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.
I am very bullish on $XRP, but that doesn't mean that we can't go lower first. Until we make a higher high on XRP/BTC on a higher time frame, I lean bearish on the BTC pairing. Pointed this out to my Discord a few days ago. I am long from below, but stops are at BE. pic.twitter.com/oYOYkJHXPz
— Credible Crypto (@CredibleCrypto) June 8, 2019
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.”
Support line still heavily respected as we are within the apex of this pennant
We also bounced of 50 RSI, maintaining the uptrend upon the 1D time frame
— The Cryptomist (@TheCryptomist) June 8, 2019
Meanwhile, crypto trader and investor DonAlt points out how the retracements made by the cryptocurrency led to a significant move down this year.
Any squeeze into full retrace this year has led to a significant down move.
The only difference this time is that we've got potential small timeframe higher lows.
Will this time be different? pic.twitter.com/oz9JpNkS45
— DonAlt (@CryptoDonAlt) June 9, 2019
Meanwhile, Another Ripple Killer is Here
“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!”
Isn't it funny how every single remittance-related product launched to the market is automatically labeled as the ultimate "Ripple and XRP killer"?
SWIFT GPI = Ripple Killer.
JPM Coin = XRP Killer.
IBM's World Wire = Ripple and XRP Killer.
Stablecoins = XRP killers.
— XRP Research Center (@XrpCenter) March 19, 2019
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.