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Ripple's XRP Price Blasts Past $0.30, Its Highest Level Since September

  • Alex Dovbnya
    📰 News

    Is XRP ready to go to the moon this time around, or is this recent price spike just a flash in the pan?

Ripple's XRP Price Blasts Past $0.30, Its Highest Level Since September
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The price of XRP has surged by more than seven percent over the last 24 hours, CoinStats data shows. This allowed the third biggest currency to once again touch the psychologically important mark of $0.30.

Ripple's XRP
image by coinstats.app

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XRP's long-awaited revival

Everyone and their uncle has been bullish on Ripple's XRP as of recently. U.Today has covered countless predictions of top cryptocurrency traders who claim that XRP is going to be the best-gaining altcoin of Q4, and this might one of those times when the majority is right about the next market move.   

After all, it was long overdue for XRP to keep rising. In 2018, the third biggest cryptocurrency managed to flip Ethereum a couple of times. However, it didn't live to its holders' expectations in 2019 with Ripple Labs being accused of suppressing its currency's values with continuous sales.             

Of course, traders do not expect XRP to stop there. At this point, $0.37 seems like a rather conservative prediction given that the token's price tends to experience significant gains on the verge of Ripple's annual SWELL event that is scheduled for Nov. 7-8.      

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XRP decoupling from Bitcoin

XRP hadn't seen this level in almost a month after nosediving to $0.23 in synch with Bitcoin. However, unlike the top currency, it has managed to completely recover to the pre-crash level. 

Of course, the XRP Army is now saying that their favorite token has decoupled from BTC, but it would be too premature to make such a conclusion at this stage. 

If Bitcoin drops tanks below $8,000, it will almost certainly drag the rest of the market into a bloodbath.    


Is XRP on the verge of a breakout? Share your opinion in the comments!     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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54% of Richest Binance Users Keep Their Portfolio Between 1-10 Coins

  • Vladislav Sopov
    📰 News

    New research reveals that the richest institutional and VIP clients avoid portfolio diversity, use USDT, and still believe in Bitcoin.

54% of Richest Binance Users Keep Their Portfolio Between 1-10 Coins
Cover image via 123rf.com
Contents

Binance Research recently published their second Institutional Insights Report, highlighting the structure of the investments, trading strategies, and approach to stablecoins. The report analyzed the positions of 76 participants speaking English & Mandarin Chinese, primarily from investment firms, funds, and institutions.

Fat Cats Go 'All-In'

One of the most interesting outcomes from the recent report is the structure of investment portfolios held by VIP and institutional clients. It was disclosed that 54% of respondents kept their cryptoasset portfolio between 1-10 coins. While the majority invested in a broad range of asset classes such as equities, currencies, fixed-income products, real estate, and commodities (including gold), 35% of respondents were crypto-focused with more than 80% allocated to crypto assets.

Thus, we can see that one in three major investors is highly "crypto-focused". New classes of rich people, whose portfolios depend on the volatility and unpredictability of crypto market, are being formed right now.

Positive Sign for BTC Price?

Obviously, the question about their approach to Bitcoin (BTC) and stablecoins were also raised within the framework of their research. It came as no surprise that the rich still believe in BTC. Institutional and VIP clients are expecting BTC to maintain its market dominance (69%) through the end of 2019. Binance Research added that this result "echoes their fear of the altcoin market, losing any interest from retail participants".

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Among the stablecoins, USDT remained the most widely utilized (40%) because it offers greater liquidity and higher market capitalization than its peers. The report also found that BUSD and USDC were less popular from the rest of the pack.

Should we seek some insight from the rich? Explain your views on Twitter!

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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