The month of May has been an eventful one for the XRP cryptocurrency. XRP is among digital currencies that are viewed to be the next big thing based on the solutions it offers to the banking sector.
Despite experiencing a correction in May, XRP is expected to soar in June. With the recent correction, XRP’s value did not drop below the major bullish support level of $0.4 price mark which is viewed as a significant zone for the asset’s growth.
By the time of writing this article, XRP was trading at $0.43 with a market capitalization of $18.3 billion. With XRP trading above $0.4, the cryptocurrency is expected to embark on a bullish run in the early days of June with $0.5 in sight.
Despite the fact that XRP is not performing as expected, compared to other cryptocurrencies, XRP is performing better. The asset is increasingly becoming appealing to institutional investors with banks integrating the Ripple technology to power payments.
Already, XRP is building a bullish momentum ahead of June based on developments within the Ripple community. The platform is consistently adding new clients among them banks globally. In June, we expect to see new clients added to the Ripple network that will possibly integrate XRP, something that can increase its market capitalization.
XRP is a cryptocurrency worth investing in because its future looks bright. Based on interests from renowned global institutions, XRP might end the month by over $0.5. Ripple is also working towards expanding the use cases of XRP.
The firm is currently targetting payment partners from the Chinese market. If the asset thrives in China which has a population of over $1.3 billion, then XRP should soar higher in June.