XRP Goes Boom Amid Rumors Of A Ripple-Coinbase Partnership

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XRP To Hit $300 In 9 Months If 2019 Goes The 2017 Way
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From an investor’s point of view, 2019 hasn’t been nice to XRP. A lot of XRP whales are said to be down by 90% from the value highs of 2017. Some fans have even threatened to fork XRP. However, the last few hours seem to have brought with them a new revival for XRP. Within hours, the crypto had a 20% surge, putting the price at around $0.31 a piece.

XRP Goes Boom Amid Rumors Of A Ripple-Coinbase Partnership
XRP Chart By Coin360

The Partnership 

As usual, traders and analysts have made efforts to explain the sudden surge, especially given that just a few days ago, some analysts had expressed a level of pessimism, saying the price could drop to $0.25.

Well, apparently, rumor has it that Ripple has inked a deal with Coinbase, making the exchange the de facto originator for XRP tokens used by MoneyGram for cross-border transactions in places like Mexico.

It’s already within the public domain that Ripple and MoneyGram are now buddies after they entered a deal where Ripple invested millions in MoneyGram. MoneyGram has also expressed interest in adopting XRP as the base currency for cross-border funds transfer.  

Bitcoin Looks Frail

A quick look at the data on CoinMarketCap reveals that XRP isn’t the only altcoin currently having some good times. Stellar Lumens, too, has surged, making the two cryptos the biggest gainers among the top 20 coins. Also, it seems that the rest of the altcoin market is following suit. 

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On the other hand, Bitcoin, the market leader, hasn’t quite responded to the market-wide stimulus. Indeed, Bitcoin’s market dominance has dropped from the previous 70% to around 67%. At the time of this writing, Bitcoin shows a mere 0.07% green percentage as compared to XRP’s 13.44% and XLM’s 30.55%. 

Is Alt-Season Here?

The current market dynamic has many wondering whether the long-awaited “alt-szn” is finally here. Indeed, the fact that the whole of the top 20 coin range is in the green makes it suggestive. However, it’s still early to determine whether or not this price-action will last. Time will tell.