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XRP Price Expected to Hit $1 Minimum as We Approach 2021

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Tue, 02/18/2020 - 08:45
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  • While XRP is striving to recapture $0.30, investors from the community are making their bets, one of them predicts that XRP will reach at least $1 by 2021

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Since the XRP price slumped back to $0.28 on February 16, the third-largest coin has been doing its best to recover the $0.30 psychological level. At press time, it is changing hands at $0.29, according to data from CoinMarketCap.

The XRP community remains bullish as ever. Meanwhile, a crypto trader has shared a tweet, saying that he expects XRP to surge to at least $1 as 2021 approaches.

‘My minimum take profit for XRP is $1, good luck, have fun’

‘Semi-retired crypto trader’, as he describes himself on his Twitter page, @AngeloBTC, has taken to social media to share his expectations regarding the prices of some top cryptocurrencies: Bitcoin, Ethereum, Ripple and Tezos. He expects the coins to achieve the following price marks by 2021.

It's good news for all who are betting on Bitcoin – the trader reckons it will hit $30,000 (contrary to John McAfee’s prediction of BTC surging to $1 mln). As for XRP – the figure he named is $1.

Second round for XRP price rise in the cards

Twitter user @cryptomocho, who boasts over 126,000 subscribers on Twitter, has posted an XRP/USDT chart from Binance, saying that if the third largest coin manages to stay above the $0.28 level, odds are that it will make another attempt to skyrocket.

XRP
Image via Twitter

XRP liquidity rises

Meanwhile, XRP liquidity continues to rise via Ripple’s ODL corridors set up together with its partner MoneyGram.

Crypto investor Dave Jones has shared data from the Mexican Bitso exchange. Last week, it says, around $54 mln was transferred from USD to MXN using XRP – 7.5 percent of the transfers in this corridor. This information initially came from the recent interview of Brad Garlinghouse to CNN.

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Ripple gets passed over

Despite the aforementioned good news, last week the media reported that MoneyGram had set up a new product, FastSend, without Ripple’s XRP. The remittance behemoth preferred Visa Direct instead.

Now, MoneyGram can allow its clients to send cash directly to millions of Visa cards.

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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  • A lone whale was able to move the BTC price by more than $400 on the Kraken exchange

Cover image via stock.adobe.com
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The Bitcoin price briefly surged to €6,190 (about $6,800) on Kraken after a lone whale bought more than 1,000 BTC.

At press time, the benchmark cryptocurrency is changing hands at $6,469 on the exchange.  

Kraken
image by reddit.com

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Whales pull all the strings 

While it's tempting to assume that a major whale has decided has reentered the market after BTC's disastrous performance in March, deep-pocketed holders are prone to manipulating prices to make easy money. Hence, traders should be cautious not to appear on the wrong side of another sell-off.    

As reported by U.Today, there was a theory that the massive April 2 pump that kicked off the glorious 2019 rally was orchestrated by one major player who took advantage of low liquidity on numerous exchanges to pump the price. 

Back in June 2019, a savvy Coinbase user sold $213 mln worth of BTC and bought back the whole thing shortly after to earn a whopping $10 mln in practically no time.  

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A $328 mln Bitcoin transaction  

In the meantime, Whale Alert, the service that tracks large transactions across multiple blockchains, has spotted a mammoth-sized Bitcoin transaction that is worth more than $328 mln. 

However, it appears to be an internal transfer, which means that it will not affect BTC's price action. 

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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