Bitcoin may be surging in price, but the cryptocurrency community has not lost sight of Ripple’s XRP, the third largest crypto asset by market cap. Based on the forecast of some analysts, we better watch our backs because something greater than Bitcoin weekend’s pump might be coming, but this time around, it will be from XRP’s angle.
XRP Has the Potential Of Outperforming Other Cryptocurrencies
According to CryptøManiac101’s tweet on June 21, 2019, the cryptocurrency community has no idea of what’s coming and Bitcoin’s rally is “only a distraction”. The enthusiast opined that XRP has the potential of outperforming over 2,000 cryptocurrencies in the market today. He has, therefore, advised that caution be taken by those who have rushed to sell their XRP for BTC in order to ride the current wave of profit.
CryptøManiac101 is not the only one with this sentiment because another tweet on June 22, 2019, from Ryan_W, a cryptocurrency analyst is not far off from the latter. In Ryan_W ‘s opinion, if we think Bitcoin’s overnight spike to $11,000 is great, then we haven’t seen anything yet until XRP does a similar move and does it even better!
Analyst Speculates XRP’s Price Rise To $7
Retrace to June 19, 2019, Robert Art, a cryptocurrency analyst said he is extremely bullish about XRP and definitely not seeing it at its $0.40 price level (as at that time), rather, he is seeing XRP take its position at a price of $7.
While that was said, Robert like the others didn’t take the time to outline what may have led to their sudden confidence in XRP, an asset that has maintained a steady price since the year began.
Nonetheless, at the rate predictions have been centered on XRP of late, one may need to pay closer attention to the virtual currency. Like most crypto assets which have recorded gains within the past 24 hours thanks to Bitcoin’s upsurge, XRP has done the same.
Prior to the surge in Bitcoin’s price, XRP was trading around $0.43 and had a market capitalization of $18 billion. However, it is comfortably sitting at $0.48 as of press time with a market cap of $20 billion.
Events and Technical indicators Trigger Investor’s Sentiment About XRP
What is remarkable, is that these predictions have not been made in hopes that XRP’s rally will be influenced by Bitcoin, but there’s the belief that the digital currency on its own can take a major leap in price. The latter has been attributed to a number of events in the Ripple community as well as the signals from technical indicators.
Take events, for instance, Ripple, the blockchain company behind XRP on June 17, 2019, announced its partnership with MoneyGram in a $50 million deal. The announcement triggered a surge in XRP’s price even though it was a short-lived one. Nevertheless, expectations are still high for what the third largest cryptocurrency by market cap will do.