It becomes increasingly difficult to make sense of the current cryptocurrency and digital asset market momentum. Whereas Bitcoin is still trying to find some grip, it seems the XRP price is already blazing ahead. The current small gains show there is room for improvements, although it will be difficult to ensure major changes occur. Even so, the current signs are somewhat promising from a short-term point of view.
XRP Price is Inching Upward
During this weekend, the main focus may very well lie with minor gains, rather than spectacular pump-and-dumps. It has become increasingly apparent no major market shifts will occur until the Bitcoin price either finds stability or notes gains of its own. While that latter option seems pretty tricky to achieve, stability is slowly becoming more apparent. As a result, the alternative markets are trying to move up while the overall momentum seems to allow for it to happen.
In the case of the XRP price, something interesting is happening. Although today’s gains are minute at best, there is an uptrend visible across the USD and BTC departments alike. More specifically, there is a 0.35% improvement in XRP’s USD value, bringing the price back to $0.333. The 0.7% gain in BTC value pushes XRP back to the 9,100 Satoshi mark, which may either become a support level or a point of severe resistance.
The big XRP-related news of the day is how this asset is slowly becoming more popular across exchanges. More specifically, a lot of companies see XRP as a viable tool to peg trading markets. Bitrue is doing exactly that, as it launched four new XRP-based trading pairs this week. That is a pretty interesting decision, although it is also an option for other trading platforms to explore moving forward.
There has never been a lack of belief in XRP from its community members. Chrisr0035 is confident the true value of this digital asset is much higher compared to what the exchanges dictate at this time. While there may be some truth to that statement, it is still up to individual users to push the price either higher or lower in the process. So far, that isn’t happening, although things may turn around at any given time.
The manipulation on crypto is strong. No matter the manipulation crypto will win in the end. It has to or everything collapses the way it is now. True value of #xrp is not what you see. Trust me it is a lot higher. #hodl and accumalate while staying positive.
— Chrisr0035 (@chrisr0035) January 12, 2019
When looking at the current XRP price chart from an analytical perspective, it would appear this asset may very well test the bottom again in the coming hours. |Its current upward momentum may only be a ruse, so to speak. Even so, trading momentum during the weekend is often very different from the rest of the week, thus it is not necessarily easy to predict what will happen over the coming 36 hours.
As is usually the case where cryptocurrencies and digital assets are concerned, anything can happen when people least expect it. The year 2019 will be no different in this regard, although the main question is whether or not any real improvements will be noted in the coming hours and days. For the XRP price, stability would be a good thing, as that is what this asset is seemingly best at compared to all other markets. Never change a winning formula, even if most holders would like to see a massive green candle sooner rather than later.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.