Yesterday was a very positive day for XRP price watchers. Ripple’s native asset received a healthy boost in value as a lot of exciting things are coming together. It now seems the positive XRP momentum is tapering off a bit, albeit further gains can be expected before the year is over.
XRP Price Bullrun Isn’t Over yet
Every time any cryptocurrency or digital asset gains value in quick succession, a correction is never far away. In the case of the XRP price, things are looking rather promising in this regard, as no steep correction has taken place just yet. In fact, it seems the positive momentum which emerged yesterday may spill over to today, depending on what investors expect to see happen.
For the time being, the XRP price still enjoys an 8% increase compared to 24 hours prior. This is primarily because the asset succeeded in gaining nearly the same percentage of Bitcoin in the past few hours. It shows all currencies are still correlated to one another, albeit uptrends in value are not just happening when Bitcoin’s value rises.
Looking toward the future, it is not unlikely there will be further XRP price gains before 2018 comes to a close. Instead, the launch of DCEX has a lot of people excited already. This new trading platform uses XRP as the exclusive base currency. It has also become apparent this trading venture is powered by Alphapoint, one of the market leaders in blockchain technology and exchange solutions.
To make things even more interesting in the financial sector, it appears German banks are currently exploring xRapid technology. According to a German website, several banks plan to commercialize this technology in October of 2018. It seems some of them will also make use of the XRP asset to power transactions, although exact specifications and details will remain unclear until these products effectively come to market.
— JackTheRippler🤫🐻🏦 (@RippleXrpie) September 18, 2018
Last but not least, one can’t forget Ripple was one of the bigger “gainers” between 2017 and 2018. The Tweet below shows how much XRP has risen in value compared to January 1st of 2017. Even at current values, the price per XRP is still up by nearly 5,000%. Such an increase may be looming on the horizon with the current developments in place. Only time will tell what the future will hold for XRP and other assets in this regard.
The great thing about being at the bottom of the markets is the huge return opportunities. Below are the returns if you had invested $100 into each of the top 20 #cryptocurrency coins on Jan. 1, 2017 and held until Jan. 1, 2018.
$2,000 invested would have turned into $524,215 pic.twitter.com/ecju0S7urq
— CryptoCurrency News (@CryptoBoomNews) August 16, 2018
As is always the case in the world of cryptocurrency and digital assets, there are never any guarantees. The momentum can turn around when people least expect it. XRP Has shown it is not an asset for day trading, but rather a long-term investment. So far, the returns have been quite spectacular, despite 2018 being an ultra-bearish year. Things can, in theory, only improve from here on out.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.