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XRP Price Could Reach $0.60 After Ending Two-Year Downtrend

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Sun, 02/09/2020 - 14:23
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  • The XRP price could start a rally to $0.60 once Bitcoin (BTC) hits the pause button

Cover image via www.123rf.com
Contents

Crypto trader Michael van de Poppe is convinced that the XRP price could surge to $0.60 if it manages to stay above the $0.25 level.

XRPPrice
image by @CryptoMichNL

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XRP's downtrend is over 

XRP ended up among the worst-performing coins in 2019 after plunging to the $0.18 level in December. 

In 2020, the third biggest cryptocurrency might finally make a ripple. De Poppe explained that XRP has broken from its two-year downtrend against BTC, which positions it for major gains.   

However, as reported by U.Today, some traders believe that XRP is not out of the woods until its price reaches $0.30. At press time, XRP is changing hands at $0.28.       

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Will Bitcoin let XRP shine?  

As Ripple CEO Brad Garlinghouse proudly noted, XRP has so far outperformed Bitcoin (BTC) in 2020. However, the Bitcoin price finally breaking above $10,000 could trigger a new level of FOMO that could push the king's dominance back to the high-60s. 

According to de Poppe, XRP could continue creeping towards $0.60 as soon as BTC calms down.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with 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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Wed, 04/01/2020 - 07:13
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  • Mike Novogratz is convinced that when central banks make money grow on trees, then it's time to buy Bitcoin

Cover image via www.bloomberg.com
Contents

When central banks make money grow on trees, Mike Novogratz, the CEO of Galaxy Digital, has one message for his followers - buy Bitcoin (BTC). 

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Yes, money does grow on trees   

'Money doesn't grow on trees' is a popular expression that parents constantly hammer into the heads of their children. It means that money is a limited resource and encourages people to put in a significant effort in order to obtain it. 

However, this fable apparently doesn't apply to the U.S. Federal Reserve and the Bank of England, who unleashed unlimited liquidity to save the ailing global economy from the coronavirus-driven fallout. 

As absurd as it sounds, fiat money does grow on trees in 2020 (at least for central banks). 

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2020 could be Bitcoin's year 

Against this backdrop of incessant money printing, Bitcoin, a disinflationary currency whose total supply is strictly limited to 21 mln, has never seemed more attractive. Novogratz described it as the strongest bull case for the benchmark cryptocurrency. 

Even though crypto failed to perform as a safe haven during the coronavirus-driven sell-off, the Wall Street bull recently opined that 2020 could end up being another big year for Bitcoin.     

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with 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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