As the Bitcoin price continues its slightly unexpected negative trend, the alternative markets are scrambling to make up lost ground. That is much easier said than done, as none of the top markets is able to contain the losses right now. The XRP price is going down a very slippery slope, as a drop below $0.3 seems very plausible all of a sudden.
XRP Price Starts to go Downhill Fast
In the volatile world of cryptocurrencies, tokens, and digital assets, there are always specific market trends which might not make too much sense. Even though Bitcoin is currently down by a few percent, the alternative markets easily lose 5% or more. Even XRP is facing tremendous pressure right now, which is not necessarily something people had expected.
To be more specific, the XRP price has lost 6.86% as it now sits barely above $0.3. This is very different from the $0.325 level which was still in place until a few hours ago. Combined with the extra 4.52% loss in XRP/BTC, it quickly becomes evident things are not looking good. At this rate, XRP will easily drop below 5,000 Satoshi in the near future, which isn’t necessarily a promising development.
As the price woes continue to keep a lot of people engaged, the Twitterverse is looking at things from a different angle. Dsavino would love to see XRP supported by ErisX, although the company has not indicated such plans at this time. This unified platform for spot and CFTC-regulated futures products is worth keeping an eye on, even if it doesn’t support Ripple’s native asset.
You will soon recognize that #XRP is One Step Beyond…hopefully you will add it 👍🏻🍻
— Dsavino (@Dsavino13) April 24, 2019
Krypto Kris has a somewhat disturbing observation when it comes to XRP community member’ behavior. He sees more holders selling their holdings on Twitter and Telegram. While most people think that is worrisome, he actually sees it as a bullish sign. The current price trend would certainly disagree in that regard, although things can always turn around on a dime.
… we are very close. BULLISH 😈
— Krypto Kris (@KryptoKrisXRP) April 24, 2019
There is another interesting observation brought to the masses by Mr. B XRP. He would like to remind people how RippleNet has been evolving as of late and how popular this technology has become in Japan lately. It is certainly a global expansion, although there is always more work to be done to improve upon the existing infrastructure.
Before you let FEAR, UNCERTAINTY & DOUBT enter your mind, here is a reminder of the Worldwide Virus that Ripple has become.
Be sure to take a look at Japan who may want to change its name to Ripplepan! 😎https://t.co/YKMyQwm3nL
— Mr. B XRP (@XrpMr) April 24, 2019
It will be interesting to see where XRP’s price will end up at in a few hours from now. A dip below $0.3 is not dramatic by any means, although it will undoubtedly trigger some mild panic. The XRP/BTC ratio, on the other hand, continues to take potshots every single day, regardless of the overall industry trend.
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.