Time-to-be-Bearish-on-XRP-is-Over-says-Crypto-Trader

“Time To Be Bearish On XRP Is Over,” Says Crypto Trader

  • XRP flying with 35% Gains
  • Crypto trader says XRP will be the frontrunner once altcoins start running
  • Coinbase and Börse Stuttgart played a bullish role in 3rd largest crypto’s price

    XRP has finally started moving upwards!

The third largest cryptocurrency is the star of today’s green crypto market. In the past 24-hours, XRP has surged more than 28 percent while trading at $0.415, as per Coinmarketcap (CMC).

These greens also helped XRP in turning green by about 13 percent till date in 2019 which has been running red until now.

Meanwhile, it is managing the daily trading volume of $4.8 billion on CMC and $698 million as per Messari Real 10, 24-hr volume.

XRP/USD chart, Source: TradingView

With this surge, XRP has reached its 5 months high. At one point, XRP surged to $0.425 which was last hit in late November 2018.

This much of an uptick has been seen in XRP price after a long term. Back in September 2018 when XRP went from $0.26 to $0.56 was the last time XRP saw a massive increase which occurred over a span of four days.

Time To Get Bullish On XRP

Crypto trader, Hsaka who has been sharing constant updates on XRP since early April, talked about how it has been in an isolated market and being “lethargic”, further emphasizing this means he wouldn’t trade XRP when it was trading at $0.34.

Constantly updating this XRP price development thread, in mid-April he stated, “Yikerson. Coming into its last line of defense at 6k sats,” only to call out in the first week of this month, “Here's XRP, doing what it does best, bleed eternally.”

However, the things seem to have taken a turn for the good as Hsaka closes the thread announcing this is the time to be bullish on XRP.

https://twitter.com/HsakaTrades/status/1128234220885667840

Bitcoin is currently the king of the market when it comes to gains as it surpasses $8,000. However, it is expected that after such a surge, a correction is inevitable and once it happens and BTC starts trading sideways, that money will move into altcoins and they will pump.

As Hsaka predicts XRP to be the frontrunner in the altcoins rally, it will be interesting to see how high the third largest digital asset will go and if it will overtake 2nd spot from Ethereum yet again.

What’s Pumping XRP

One of the potential news came into the form of cryptocurrency exchange Coinbase launching the trading support for XRP for the New York states residents. San Francisco-based firm tweeted on Monday that New Yorkers can now buy, sell, send, receive, store or convert XRP on Coinbase or via its mobile apps.

This news saw XRP price jumping 20 percent. Back in February, Coinbase first added support for the digital asset that failed to provide much of a drive to its prices.

Another bullish event came from Germany’s second-largest stock exchange, Börse Stuttgart (SWB) that listed exchange-traded notes (ETNs) of XRP and Litecoin (LTC). These ETNs can be traded against Swedish Krona (SEK) and euro (EUR) on Europe’s tenth-largest exchange.

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[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Coin Market Cap Price Change 24 Hour Volume
BTC $135.25B $7,634.3599 -3.92% $6.29B
ETH $25.84B $243.3202 -5.13% $2.52B
XRP $15.72B $0.3732 -6.55% $702.78M
BCH $6.89B $387.0702 -7.46% $445.03M
LTC $5.42B $87.6272 -4.12% $683.28M
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