🔥 TOP STORY
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

EOS Price Expected to Keep Rising After Doubling in Value Since December Lows

  • Darryn Pollock
    🤷 Opinions

    EOS is one coin that has shrugged off its lows to double in value since December, with more growth expected

EOS Price Expected to Keep Rising After Doubling in Value Since December Lows
You may also like:

In the current climate, there is optimism returning to the market with Bitcoin pushing the $4,000 mark. However, a lot of this positivity has come from an altcoin rush of late. Coins such as Tron, Ethereum, Ripple and Stellar have played their part in boosting the market, but one particular coin has been striving since its lows in December last year.

EOS, a cryptocurrency that is currently ranked fourth by market cap, has quietly been going about its business, growing not only in price but also value as a blockchain company. It is showing some medium to long term bullish tendencies, outperforming many others.

The coin reached a low of $1.54 on December 7th, 2018, but at the moment, it is heading beyond the $4 mark, having doubled in value since that late last year low. It currently sits at $3.38.

Many are expecting the coin to keep growing, with its highest point touching $4.05. This move represents a 161% gain in only 74 trading days. If the bullish tendencies can continue across the markets, there is no doubt that EOS will cash in.

EOS Charts

More to come

EOS is seen as a rival to Ethereum, and because its intention is to improve upon the original smart contract blockchain, it will feel it has an edge in terms of adoption in the coming months.

It is a double-edged sword, as added adoption of the blockchain platform will help increase its reputation, which in turn will boost its price. Then, because EOS’ price is already starting to grow substantially, it will bring the platform to the fore for future blockchain applications.

If EOS can continue to offer a good blockchain service and the market keeps positive, there is every reason to believe that the coin’s price will continue to grow — and also outperform many of its rivals and other altcoins.

Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!
👓 Recommended articles

Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls

  • Jack Thomas
    🤷 Opinions

    📊👀Ripple’s Market cap, through its XRP token, was ahead of Ethereum at a few stages, but its price prediction has slowed and come under pressure from resistance below the $0.33 mark, and in doing so, Ethereum has pushed higher into second place

Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls
You may also like:
Contents

Ripple, and its native token XRP, have been stuck in a bit of a price vacuum over the past few weeks and months as many other coins have managed to break such marks. Sitting between $0.30 and $0.33, XRP has actually started to even lose ground on Ethereum in terms of market cap.

The third-ranked coin by market cap has in the past managed to over take the smart contracted-based blockchain as it surged in interest and growth in the recent past, but now it has fallen back by nearly $2 billion.

In terms of price prediction, XRP has a lot of hope and positivity surrounding Ripple’s efforts to make it a staple of banks going into the digital age, but it has stalled in its own growth recently, which is surprising seeing as other altcoins have doubled in 2019 alone.

XRP’s sticky situation

There was a small drop in the market last week which was halted when Bitcoin managed to keep above $4,000, but XRP also tested an important resistance. After testing the $0.3000 support, XRP’s price started a short term rebound against the dollar.

The price traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113, and later the price started a downside move.

XRP is especially low currently, testing its floor rather than the ceiling, which has been seen closer to the $0.33 mark, but what is not helping the coin get past any of these resistance marks is its drop in market cap.

Ethereum taking the initiative

It is difficult to tell if Ethereum is making ground on XRP’s market cap based on its own growth – which has not been astronomical in terms percentage gains in the last few weeks – or if it has to do with XRP losing its own worth and value in the eyes of the market.

Ethereum is facing some major changes in the near future, and it could be that early investors are starting to look for a cheap deal as they prepare for the Casper upgrade and the change to Proof of Stake. Ethereum is bound to make big ground when that happens.

Ripple may not admit it, but having XRP as the second ranked coin above Ethereum would be a big deal for them as it adds a lot of legitimacy in the general market and helps in boosting their own worth and value as a company looking for more partnerships.

Subscribe to the official U.Today Telegram channel. Get news first!
👓 Recommended articles