So, word on Wall Street is that Ripple’s (XRP) price could be looking at new heights, following a bullish week; which is exactly what we saw for the week ended 20 April. We all know what happened in 2017 when the rise began, and we all know that 2018 has been quite bumpy for most Cryptos but last week, most digital currencies and especially Ripple, seemed to be displaying signs of recovery.
Ripple’s 36,000% rise is a tale that will forever be etched in history books – but so will its drop. Prices plunged to meet the $0.4 level all the way from the $3.75 handle, and this, in just three months but as we said, it seems like Ripple is pushing to recovery levels closing Friday’s session at $0.8905. Ripple’s market cap increased significantly, by $3.2 billion on the day to be exact and by $10 billion for the whole week. To say the least, Ripple’s price movements have impressed the markets and its participants and have analysts believing that the long-awaited $1 mark is now within the coin’s reach.
Now I know that for some of you, alt-coins may not be on your radar because yeah, as we all know Bitcoin is the bible, but who can ignore Ripple when its impressive line-up of clients consists of not only big-time banks but esteemed payment providers? Ripple’s technology has been backed by millions over the last years. The idea behind Ripple’s innovative technology, is to make very large cross-border transactions, not only cheaper but quicker and more efficient. Acceptance has reached global levels and many financial institutes including banks have already begun using Ripple’s network to process payments. If Ripple keeps following this trajectory, analysts say that 2018 could be even bigger than 2017 – not only in terms of price growth and stability, but adoption.
Of course, nothing is carved in stone yet, as we need to wait and see if Ripple’s integration will be a success in its target industry before we can call on the Bulls. Not that that would matter under trading conditions – because red charts, green charts, should you get yourself on the right side you have a good chance of bringing the money home. (with the right guide of course)
The reality of things is, as the Crypto market slowly begins breaking out of its current bear trend and gains more and more confidence, investors are realizing the potential of alt-coins and are rushing to diversify their Crypto-portfolio. Looking at the aforementioned reasons, does it come as a surprise that investors have filed Ripple under promising? As we previously said, should its target industry render its technological integration a success, a tidal wave of change for the entire financial industry as we know it could be up next. Is Ripple about to reach, break new record highs and change our banking system for good? Stay tuned and be the first to find out if and when it does!
This article is for educational and informative purposes only and should not be considered as investment or trading advice.