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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)?

Ripple’s Popularity Shines in Weiss Ratings’ Twitter Poll — Can Popularity Boost XRP Price?

  • Jack Thomas
    🤷 Opinions

    ⛰️🔥A recent poll by Weiss Ratings has seen Ripple come out on top, but can that popularity transfer into a big price boost for the XRP token?

Ripple’s Popularity Shines in Weiss Ratings’ Twitter Poll — Can Popularity Boost XRP Price?
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Ripple, and its native token XRP, has often split the cryptocurrency community in terms of its value and place in the ecosystem, but a recent poll from independent rating agency Weiss Ratings has seen the third biggest cryptocurrency by market cap claim a comprehensive win in the popularity stakes.

The poll asked which is the crypto community’s preferred digital currency. The options available were Bitcoin (BTC), XRP, Ethereum (ETH), Cardano (ADA), and it was the Ripple token that took the win.

5,000 individuals voted for XRP as their preferred currency. The second most voted option was Cardano, which received 24 percent of the votes, close to 2,040. Meanwhile, Bitcoin was the third most voted coin with 12 percent choosing this digital asset. Finally, Ethereum received just 4 percent of the votes – around 340.

Weiss

Popular option?

The poll is an interesting one to note as it covers a broad spectrum of everyday cryptocurrency users, but also because it includes coins that have different niches. There is Bitcoin, which is the original and has historically been the most popular and most well known.

But there are also two smart contract blockchains in ADA and ETH. However, the low support for ETH might indicate that individuals are getting frustrated with the original smart contract blockchain and its shortcomings, rather favouring the likes of Cardano and its improvements in terms of smart contract blockchain.

XRP’s comprehensive win is also an interesting point to note as Ripple has had most of its focus aimed at making major financial partnerships, with the intention to gain popularity not high on the list.

Good for investors?

Of course, Ripple has been making good strides in the financial sector, getting its xRapid product across a few major banks all over the world as it looks to expand its reach and offering as a cross-banking payment option.

But in terms of investor interest and popularity, the fact that people are strongly favouring the XRP token could mean that there will be a bigger demand down the line. It may be that investors are seeing the regulatory adherence of XRP and following its journey there and the potential that offers, or it could be that Ripple’s work with banks means a boost in adoption, so people want to be in early.

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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
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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.

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