XRP Bagholders Search For Hopium, Did they Find it?

The end of XRP’s declining period coming? With a 500% increase in price?

After making a move before the weekend that gave hope to the bagholders, XRP took a dive yet again.

The fourth-largest cryptocurrency by market cap is currently trading at $0.176 in red like the majority of the market. In the past week, it has dropped by over 6% and 12.5% in the past year.

In the USD market, XRP is able to hold off some losses but in the BTC market, it has dropped to a new low. On June 27th, XRP/BTC dropped to 0.000019 which was last seen in December 2017 just before it exploded to an all-time high of $3.92.

Just like XRP, Bitcoin Cash (BCH) is another cryptocurrency that fell to a new low of $0.0240 against BTC.

The situation of XRP prices is so dire that XRP bagholders are going to great lengths to make bizarre connections.

Ripple CTO David Schwartz today took to Twitter to question the 900 years old horse “trough” and XRP investors where Schwartz was indirectly talking about the end of XRP’s declining period.

Not so bizarre for the bagholders, apparently!

Schwartz may not have been giving the investors hope but trader DonAlt is surely providing the much-needed ‘hopium’ to the XRP community.

DonAlt posted a chart where he pointed to about a 500% increase in XRP price. But it’s not all bull talk as he also painted another 38.5% drop from the new low. Or it could very well fall into oblivion.

Another dose of hopium was in the form of SBI Holdings’ crypto fund. Reportedly, the Japanese financial conglomerate SBI Holdings has announced the launch of the country's first cryptocurrency fund with 50% of its assets to be in the XRP and 30% in Bitcoin (BTC) and 20% in Ethereum (ETH).

A long-term Ripple partner, SBI is also planning to roll out its Security Token Offerings (STO) exchange by this year end and has started working on products that it would offer on the exchange’s release. It has already launched a crypto exchange called SBI VC Trade.

Ripple (XRP) Live Price

1 XRP/USD =$0.1818 change ~ 2.98%

Coin Market Cap

$7.87 Billion

24 Hour Volume

$125.43 Million

24 Hour VWAP

$0

24 Hour Change

$0.0054

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,470FansLike
2,795FollowersFollow
4,195FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin Adoption Explosion in Africa, Led by Nigeria, Kenya, and South Africa

Bitcoin continues to gain traction in Africa, with Kenya being the most bitcoin maximalist country, with 94.7% dominance. The top 10 list also contains...

DeFi App Growth Boosts Total Transactions On DApp Blockchains By $4.5B In Q2 2020: DAppRadar Report

In a report by DApp Radar, the total transactional volume on DApps touched the $12 billion mark in Q2 2020, representing a $4.5 billion...

Bitcoin to Follow the Equities Market Up or Down? One-Month Correlation Spikes to an All-Time High

Yet another week of weak price movement. The world’s leading digital asset is trading at $9,072, in red with 24 hours ‘real’ volume of just...

Public Mint Launches Its Blockchain; Over 200 Banks Plan to Support Its Digital Money

vPublic Mint, a firm founded by CNET founder Halsey Minor, has announced the launching of its ‘fiat-native’ public blockchain, which enables anyone to easily...

BTC Halving Week Brings in Record Monthly New Accounts & Doubles the Revenue for BlockFi

The past two months have been incredibly dull for the price of bitcoin, but it didn’t affect the businesses in the cryptocurrency space. The...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today