XRP, the third largest cryptocurrency based on its $17.8 billion market cap has got the attention of crypto analysts. Many are extremely bullish that even though the digital currency has maintained a steady rise in its price, a bull run that will set its price at over $0.50 is lurking around.
XRP Maintains a Steady Positive Price Movement
Ripple’s XRP has been quiet for two months now unlike virtual assets like Bitcoin, EOS, Litecoin, and Bitcoin SV which have made headlines for their sudden northward movement. However, XRP is about to join the party if we go by what a number of professional crypto traders are saying.
In one sentence, they expect a bull run that will take XRP from the $0.40 price level which it has maintained and maybe for too long. Two weeks ago, it made attempts to cross a $0.48 market value however, the resistance was not broken. Thus, it has been slow and steady even though it looks like that won’t be the case soon.
Cryptocurrency Analysts Predictions for XRP
So, what is the crypto community saying? ‘The Cryptomist’ in a tweet on June 2, 2019, stated that we are once again testing resistance to reach the apex of the pennant. The enthusiast also added that: “This looks good, I can only seeing $Btc volatility disrupting this from the first target mentioned few days ago, at 51cents.”
Now, if $0.51 is uninteresting to you, here’s a more bullish prediction and it’s from Gordon Gekko. According to the crypto analyst on May 28, 2019, the “daily golden cross” patterns that were exhibited in 2017 before XRP’s final surge to $3.50 is currently being exhibited. However, he expects that the intending bull run might set the virtual asset’s price between $7-$10 in the about 3 to 6 weeks.
Ripple Makes Headlines for Partnership and XRP-based ETN
While the focus is currently on XRP, Ripple has made headlines of recent for a number of partnerships. For instance, it entered a partnership with Ria Money Transfer entered in May this year to enhance international remittance. According to Ria at the time, their collaboration will bring about speed, efficiency, and transparency in cross-border payments.
Also in May, Börse Stuttgart (SWB), the second-largest stock exchange in Germany listed exchange-traded-notes (ETNs) that were based on XRP and Litecoin. Its aim is to allow investors to use exchange-traded securities in tracking the future price developments of both cryptocurrencies.
