For many months, XRP was stuck in a descending trendline. Even when the price of Bitcoin and altcoins was surging against the USD, XRP was crawling. After Tether (USDT) XRP was the worst performing cryptocurrency last month. Last week, the price of XRP suddenly surged against the USD by more than 20% within a few hours. It outperformed Bitcoin and many other cryptocurrencies at the time. Even if investors enjoyed the XRP bull run, they couldn’t help but wonder what propelled the surge after months of bearish pressure. In our XRP news today, we are going to talk about the real reason why the price of XRP suddenly surged and how it will affect the XRP price prediction 2019.
XRP Price Prediction 2019 – XRP News Today – XRP Price Forecast – Why Did XRP Surge?
Yesterday, XRP was the best performing of the top cryptocurrencies. As the price of Bitcoin failed to surge above the resistance at $8000 bouncing off several times, the price of XRP maintained the upward momentum until today. At the time of writing, XRP was still trading in green but gaining grounds against the USD. Bitcoin is currently correcting lower at $7,965.01. It is down by 0.80% against the USD with a trading volume of $34,243,643,077 and a market capitalization of $141,013,772,191. Many other cryptocurrencies are also trading in red against the USD. So, why is XRP trading in green? What caused the significant surge in the price of XRP?
XRP (XRP) Price Today – XRP / USD
According to an XRP price analysis on NewsBtc, the surge in price was as a result of an “influx of positive news about XRP and Ripple”. While there have been many positive news about XRP this year, the most recent was that XRP is now available on Coinbase Pro for New York users as announced by the cryptocurrency giant recently. The announcement was as follows;
“XRP (XRP) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, or store XRP on Coinbase.com or using our iOS and Android apps.”
As Coinbase Pro made this announcement, investors believed that this was clear evidence that XRP will attract institutional investors from Wall Street soon. While there is no proof that Wall Street investors will suddenly start pouring money into XRP, retail investors didn’t want to lose out on an opportunity so they started buying in bulk while the price was low. The sudden cumulative buying pressure led to the surge in the price of XRP.
XRP Price Prediction 2019 – XRP Prediction 2019 – Current Price Of XRP
At the time of writing, the price of XRP was $0.440157. This means it is up by 2.34% against the USD and up by 2.19% against the price of BTC. The trading volume over a 24 hour period is $5,131,982,162 and the market capitalization is $18,545,261,819. Right now, XRP has found strong resistance above $0.40. While it’s not clear if it will fall as low as $0.30 yet, it’s better to wait until you see signs of a price correction before you take your profits.
What do you think about the XRP price prediction 2019 and current price of XRP in our XRP news today? Share your thoughts about the reason behind the price surge in the comment section.