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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)?

Stellar’s Price Predicted to Keep Rising as Coinbase Listing News Pushed Gains by 30% This Week

  • Darryn Pollock
    🤷 Opinions

    ✨👑Another coin is having a successful run into its launch on Coinbase Pro, but Stellar looks set to continue gaining after a good quarter🔥 😎

Stellar’s Price Predicted to Keep Rising as Coinbase Listing News Pushed Gains by 30% This Week
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Coinbase has, over the years, been a powerful booster for the price of certain cryptocurrencies. Those that are selected by the major American exchange often see a surge in their price because of additional liquidity and access.

Stellar has become the latest cryptocurrency to ride this wave when Coinbase Pro said that it was accepting deposits of XLM, with trading support coming once sufficient liquidity is established. The process should almost be complete at the time of posting.

Stellar has posted good gains this entire week with as much as a 30 percent bump in the price of XLM preceding the news of the listing in just four days. It must be assumed that there were rumours circulating of the listing that bumped the price, but Stellar has had a successful 2019 thus far.

A coin on the move

Early in 2019, IBM, one of the biggest enterprise companies employing blockchain technology, announced that it has chosen Stellar to be a major partner in its mission to drive adoption of the technology.

From there it has been steady growth for the price of the XLM token as it proves its value as a blockchain asset that could be widely adopted by major companies thanks to the work being done by IBM.

However, it is the Coinbase listing that has helped it in the immediate future with the last seven days showing the price of the XLM token go from $0.085 to $0.11.

Stellar

 

Praise from Coinbase

Coinbase, especially its pro exchange arm, has been steadily growing its offering but in a discerning and careful manner. Coinbase has identified Stellar as a potential coin to aid in being part of a low-cost payment network.

According to Coinbase’s blog post, “since its launch in 2014, its vision has been to unite the world’s financial infrastructure so that money can flow quickly and cheaply between banks, businesses, and people. The Internet connected the world’s computers so that information could be shared globally. Stellar aims to do the same for money.”

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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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