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XRP Price Expected to Go Above $0.40 While Its Liquidity Rises

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Tue, 02/25/2020 - 10:13
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  • While the third biggest crypto has been showing some flat trading, its index of liquidity in the Philippines is soaring and traders are expecting a price surge soon

Cover image via www.shutterstock.com
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At press time, the third-largest currency XRP is trading at $0.26, as per figures shared by CoinMarketCap. Recently, it briefly overcame the $0.30 barrier before pulling back to its current price level.

Traders are now sharing their bullish predictions and, in the meantime, the index of XRP liquidity in the Philippines has almost reached a new major level.

‘XRP getting ready for a slingshot’

A Twitter user, whose name is from a Wall Street movie (Sir Gordon Gecko), seems to be extremely bullish on XRP. He shared a tweet with his 10,000 followers, saying he believes the XRP price is about to skyrocket. The chart shows that the upward line is going beyond the $0.40 level.

Make sure you’re wearing an old pair of pants, he writes optimistically.

XRP price
Image via Twitter

Previously, the same Twitter user published a post, saying XRP had formed a Golden Cross pattern on the chart.

XRP supporter @HaraldoXRP expects two of the largest currencies – Bitcoin and XRP – to go green next week. He spread the word in a recent tweet.

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‘Forget about XRP for a while’

Serial entrepreneur going by the name of @360_trader also seems bullish on XRP, but not immediately. Unlike those who keep promising every week that the XRP price is going to rise to the moon, this Twitter user has adopted a different approach.

Criticizing those ecstatic XRP bulls that keep promising extremely high figures for XRP, he believes that the community should keep it but ‘forget about it [XRP] for a while until the time is right. He tweeted:

“Everytime we get a #crypto up leg, the $XRP to the moon charts come out.  According to these “experts” we should at least be at $5 by now. Own it, Sleep on it, Forget about it for awhile.  Put the $XRP remote controller down, you broke it.”

XRP liquidity rises

Meanwhile, the liquidity index of XRP has continued rising, almost reaching a new ATH in the Philippines on the XRP/PHP pair on the Coins.ph platform.

XRP/PHP
Image via Twitter

 

About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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  • Bitcoin (BTC) bulls have high hopes for Q2 after the coronavirus-induced crisis tanked the price of the leading cryptocurrency

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Bitcoin, the number one cryptocurrency by market capitalization, is set to finish its tumultuous first quarter of 2020 in the red with a 10.65 percent drop, according to crypto data provided by Skew.    

As reported by U.Today, it suffered a price crash of enormous magnitude due to the coronavirus pandemic that resulted in the global economic shock. 

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The stellar quarter that wasn't 

In early 2020, Bitcoin was on track to have its best Q1 since 2013. In fact, it gained more than 50 percent after reaching its current yearly high of $10,508 on Feb. 13. However, this rally hit a snag and BTC printed its first negative February close in six years

All bull dreams have been brutally shattered after the 'Black Thursday' of May 12. On top of halving its price in less than one day, BTC was actually in great danger of hitting zero because of a string of liquidations on BitMEX. 

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The odds are in the bulls' favor  

That said, there is still a good chance that the bulls can stage an impressive comeback in Q2, which is historically the most successful quarter for the leading cryptocurrency.

Last year, BTC kicked off its impressive rally on Apr. 2 with a sudden 20 percent price pump.   

At press time, BTC is sitting at $6,480, continuing its streak of range-bound price action.  

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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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