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XRP Is Favored by 85% Traders on Coinbase with 84 Days Hold Time

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Wed, 12/18/2019 - 12:24
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Yuri Molchan
XRP is the fifth favored asset on the Coinbase exchange, with 85 percent trader preferring to buy it
XRP Is Favored by 85% Traders on Coinbase with 84 Days Hold Time
Cover image via 123rf.com

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A crypto enthusiast XRP_Cro has shared a screenshot from Coinbase from which it is clear that 85 percent of traders prefer to buy this third largest coin and hold it for a minimum of 84 days and it is the fifth most popular digital asset on Coinbase.

XRP has not been oversold since August 2018, the XRP fan claims.

XRP Coinbase
Image via Twitter

XRP price in the lows

At press-time, XRP is trading at $0.1840, as per the figures from CoinMarketCap, and has been on this level for a long while already, having gradually moved down from the $0.25 zone.

At the time of writing this article, the crypto market is bleeding. XRP is losing nearly 8 percent.

The financial analyst Mati Greenspan writes in his new Quantum Economics newsletter:

“The entire crypto market seems to be in a bit of a slump at the moment. The losses in XRP are more likely a reflection of that than anything else at this time.”

The XRP price has hit the lowest level since 2017 which still ended up victoriously for XRP, BTC and other top 10-20 coins.

Recently, a top crypto analyst Jacob Canfield made a forecast, saying that the XRP price may drop to the $0.10 mark and even then he would be cautious about buying it.

Related
Ripple's Partner MoneyGram Doesn't Hold Any XRP

XRP adoption is hard to expand: MoneyGram CEO

The crypto community was hoping that extensive XRP adoption would solve this issue and push the price high up. However, in the recent interview to CNN, the Ripple-backed MoneyGram CEO Alex Holmes said that increasing the company’s operations to Mexico via ODL and XRP would take a long time.

He also stated that MoneyGram cannot increase the amount of its XRP corridors without Ripple’s help – the cryptocurrency behemoth must bring in more banks or financial institutions which would want to buy XRP that MoneyGram intends to sell.

At the moment, Ripple is one of the company’s major investors, having supported MoneyGram with over $50 mln in the last six months.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.