As was to be expected, the XRP price is going through another round of bullish momentum. Yesterday evening’s dip was only a minor setback, which affected virtually all markets in its wake. As such, now is the time for some positive momentum, as it will effectively push the XRP price to $0.40 in the process.
XRP Price Momentum Turns Around
It is always wonderful to see positive cryptocurrency market momentum. Although gains tend to be noted on a regular basis in this day and age, it seems there are even steeper declines every single time something good happens. The XRP price, for example, has seen significant pushbacks every time a small uptrend was established. This time around may be different, all things considered.
Over the past 24 hours, the XRP price has noted a 9.97% increase in value. That is a rather interesting development, especially when considering a similar uptrend was recorded not that long ago. After suffering from a small pushback, it seemed XRP has gained some stability near the $0.32 level. With a current value of over $0.35, things are looking even more promising.
Excitement among XRP community members is not hard to come by when the momentum turns bullish. XRP World is confident this is only the beginning of a long-term uptrend, primarily because xRapid is supposed to go live very soon. Several German banks are expected to go live with this particular solution in the coming weeks, which will certainly shake things up quite a bit.
— ⚜️XRP WORLD⚜️🌎⚡️ (@WorldXrp) September 20, 2018
Those who specialize in technical analysis also show this trend was to be expected. More specifically, the XRP downtrend breakout was only a matter of time, and it has seemingly come to fruition already. This move coincides with a healthy Bitcoin price increase, which can only result in more gains for all other cryptocurrencies moving forward. How long the trend will last, is a very different matter altogether.
— Alistrago #XRP 🚀 (@alistrago_crypt) September 20, 2018
It is rather unusual to see some funny memes associated with XRP, yet the one by Keysitates is attracting a bit of attention. It is evident there are high expectations associated the XRP price, although reaching a value of $589 seems rather unlikely. Even so, people said the same about Bitcoin, thus there is a precedent for such spectacular price gains.
— Kheysitas ⚡️ (@XRPkhey) September 20, 2018
When major price changes like these occur in very quick succession, one has to wonder how long the momentum can last. The previous XPR price uptrend remained in place for over a full day. This time around may be different, primarily because trading activity over the weekend is very different in nature. That can work in favor of the XRP price, or create a major pullback.