There are still a lot of people who remain confident XRP’s price will surpass $1 later this year. Although it is a possibility no one can refute at this point, it seems the battle for $0.5 is taking its toll as well. A new net loss in both USD and BTC value is somewhat worrisome when looking at short-term profits.
XRP Price Can’t Gain Full Control
It is evident for everyone to see XRP is seemingly unable to gain control over the $0.5 level at this point in time. Why there is so much resistance near this price point, is anybody’s guess. This particular price point has been a turning point for XRP as long as people can remember, although there is a good chance things will improve moving forward.
For the time being, there is a minor net loss in both the USD and BTC department where XRP is concerned. The net loss pushes the USD value slightly below $0.5, whereas the loss against Bitcoin drops the value down to under 7,800 Satoshi. The push to 8,000 Satoshi and beyond has been kept in check once again.
When looking across social media, it seems plenty of users are expressing their concern over the current lack of XRP price momentum. Crypto0151 is comparing the BTC and XRP charts, which look eerily similar at this time. That is not necessarily a bad thing, albeit it does raise a few questions regarding the short-term future of both currencies.
One is BTC one is XRP. Notice anything happening 🤔. Not trying to bash anything or praise anything just a basic observation 🤷♂️. #XRP #bitcoin @Cryptonary_ you been hacking charts to make XRP look good or you think shit just happens 😂 pic.twitter.com/mhX6mgWp82
— Crypt0151 (@crypt0151) November 9, 2018
XRP To the M sees things in a slightly different spotlight. The lack of XRP trying to reach $50 has been well-documented, although there are still those who see bigger things ahead for this asset. A jump to $100 would not necessarily be impossible, although that would push the market cap well beyond trader’s expectations. Poking some fun at XRP believers is to be expected during this extended bearish trend.
— XRP to the M ⚡️🚀 (@bosontwerp) November 9, 2018
The Vault, who is also an avid trader of XRP by the look of things, is looking at things from a slightly different view. Although this current price trend isn’t exactly promising, he considers it a good point to buy up some XRP. That is a rather bold claim first and foremost, although one that can easily come true if the markets evolve in a slightly positive manner.
UPDATE XRP UT H1 : 0.49 – 0.50$ a good buying area , time to fill up your bag again. #XRPcommunity #XRP #xrparmy #xrpthebase #NewStandard #Ripple #rippletopia #xrp #btc #bitcoin #BTCUSD #XRPGAMESTREAM pic.twitter.com/AHDsGNOugd
— The Vault (@TheVaul53027485) November 9, 2018
For the time being, all markets are suffering from a slight slump which proves somewhat difficult to overcome. That is not something that can’t be overcome, by any means. The overall trading volume for all currencies still looks promising, which is all one can ask for at this time. With the weekend around the corner, the coming hours can prove to be crucial for all markets, including XRP.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.