XRP “Coming Into Its Last Line Of Defense” With “One Last Hurrah” Left In It Says Ripple Coin Trader
XRP “Coming Into Its Last Line Of Defense” With “One Last Hurrah” Left In It Says Trader
The third-largest cryptocurrency by market cap of almost $14 billion is up by 3.92 percent in the past 24-hours while trading at $0.333, as per Coinmarketcap. After going to the yearly low at about $0.28 in December last year, XRP hasn’t been managed to make much progress, price wise.
Though it did manage to surge to $0.433 level, since then it remained subdued and traded just above $0.30 level, even the long-anticipated Coinbase listing didn’t manage to do much for XRP.
If we take a look at the year-to-date returns, while Bitcoin has surged 40 percent, Ethereum 24 percent and some coins registering as high as 230 percent gains, XRP is in the red by 4.82 percent.
XRP USD chart, Source: TradingView
Crypto Trader Hsaka says XRP is moving into the last line of its defense as the price chart shows a downward moving line throughout last quarter.
“Yikerson: Coming into its last line of defense at 6k sats. This most likely has one last hurrah in it but I'm not willing to die on that hill, especially when there are plenty other opportunities abound right now.”
Earlier this month, Hsaka had also shared, “BTC goes up, XRP dies. BTC goes down, XRP dies.” He further stated that though volatility is back into the major cryptocurrencies, XRP chart is still not able to provide any “decent setups.” He pointed out that XRP seems to be an “isolated market” that is immune to any Bitcoin movement which means if there are no reds, it is not registering any greens either and being “just generally lethargic.”
Ripple Working On Global Expansion
Though XRP price is not showing much action, Ripple meanwhile is working on going global as it slowly captures different corridors all over the world.
Recently, we reported the “overwhelming” response Ripple has received from Mexico and the Philippines customers as shared by Asheesh Birla, the SVP of products at Ripple in an ask-me-anything session.
Birla had also shared that they are working on a new set of destinations which they will be announcing soon.
As Ripple shared in its latest insight blog, blockchain-based transactions are on an average 127 times cheaper and 388 times faster than the traditional remittances, disrupting the banks and traditional systems.
In terms of adoption, recently Japan’s Amazon, Rakuten announced that it will allow millions of its customer to buy crypto including XRP. Moreover, eToro launched its crypto exchange eToroX’s with the top pairs involving XRP/GBPX and XRP/AUDX.