If you’ve been following up with the cryptocurrency industry, you’ll know that things haven’t been great for digital assets for many months now. Even as the price of cryptocurrencies fell significantly against the USD, XRP was able to maintain relative stability and this was one of its strong suits. Not many people are comfortable with the XRP price trend. Many traders expected the price of XRP to bounce back long ago but it didn’t.
Within the last 24 hours, the price of XRP has not changed much against the USD. Some holders have expressed their disappointment in this regard. XRP has only increased by 1% and was trading at $0.357 at press time yesterday. This isn’t necessarily a bad thing. Speculators on social media have become impatient with Ripple demanding that the company provides big news that will boost the price of the XRP token once again. A Twitter user with the handle 7 God suggested that a major development news about Ripple will cause a spike in the XRP token.
XRP (XRP) Price Today – XRP / USD
The truth of the matter, however, is that there is no guarantee that a major developmental news will cause an upward surge in the price of XRP. This doesn’t mean a sell-off is in order. XRP still has strong fundamentals so holding is the best thing to do at this time.
On another end of the continuum, a user asked Elon Musk to advocate for Ripple and XRP openly as this will cause a spike in price. However, superficially, this may not do anything to add to the current value of the XRP token now or in the future. Members of the XRP community are eager to see some progress and should be commended for their effort.
The Future Is Bright For Xrp (XRP)
The market has been eagerly awaiting the surge of institutional investors. Last year, many of these investors were unable to enter the market because of a lack of custody options. This year, things may change because there are already some of these options in place. The American Digital Asset Partners have announced that the top three cryptocurrencies per market capitalization will benefit the most from institutional money. XRP is one of the top three and it has a solid foundation for growth.
Notwithstanding, it is important to note that the cryptocurrency market is highly volatile and unpredictable. So, no one can truly give an accurate prediction of what the next few years will hold for xrp or any other cryptocurrency for that matter. Predictions can only be made based on the current market. All indicators show that the price of XRP will continue on a sideways trend for some days and even months. XRP isn’t the only cryptocurrency that is on a sideways trend and this is understandable. It’s going to take a while for all the damages done in 2018 to be undone.
XRP (XRP) Price Analysis
Right now, XRP is trading at $0.354416. This means that it is down by 0.55% against the USD and up by 0.68% against BTC. The trading volume over a 24 hour period is $418,381,420 and the market capitalization is $14,458,102,193.