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XRP Price Stays Green in Red Market — Late to the Party or Another Reason for Price Spike?

  • Jack Thomas
    🤷 Opinions

    XRP, after being stuck in a rut, has ridden the latest rally’s wave, but even had a late individual rally of its own – what’s the reason?


XRP Price Stays Green in Red Market — Late to the Party or Another Reason for Price Spike?
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The recent cryptocurrency rally has been an interesting one to dissect. First there was the change in sentiment through Q1 of 2019, thanks quite heavily to Litecoin’s doubling in price. Suddenly, Bitcoin joined in and managed to jump beyond $5,000 after hovering just below $4,000. Now, in a little correction, XRP has come to the party.

XRP has been a little poor in terms of its performance in this so-called altcoin season of Q1 2019. It was, for so long, stuck in a price vacuum between $0.30 and $0.33, even dropping below the key support of $0.30 for a time.


However, rather than just riding the coattails of this rally, XRP has finally come into its own with a price spike on a day when most of the other top cryptocurrencies are all seeing red, and even Bitcoin is back below the $5,000 mark.

The question now is whether Ripple and its token are doing something good on the back of this rally to further push its price up, or is it simply a case that XRP is a little late to the party.

Current state of affairs

Currently, XRP is up nearly six percent over the last 24 hours, and this compares to Bitcoin being down near two percent. In fact, other coins, like Bitcoin Cash, which was rallying hard through this week, is now down almost six percent.

The Ripple token has actually surged 13 percent from its 24 hour price taken early this morning. The move has taken XRP from an intraday low of $0.330 to its highest level since early January, $0.373.

The coin managed to break the shackles of the $0.33 mark thanks to the general market rally, but its continued growth has also predominantly been about the movement of Bitcoin rather than anything it has done.

More partnerships?

In saying that, Ripple has been busy behind the scenes with more partnerships coming to the fore. A recent partnership announcement with UK finance firm RationalFX yesterday may have driven momentum.

The timing of such a partnership is also key as there have been other announcements when XRP was in its price bubble and yet there was hardly any movement.

It has also been reported that Gmail users will now be able to send XRP to each other via a new Chrome plugin called MoneyMessage.

Cover image via u.today
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Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?


Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?
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On a day where the markets are predominantly in the red, but only slightly, it is interesting to note that Binance Coin is surging. The exchange token is up fiver percent, but it is totally understandable as to why there is so much positivity around the company.

The biggests news, which comes off the back of its decentralized platform, Binance DEX, is that the Binance Chain mainnet has been launched and that they will be executing their Mainnet Swap on April 23rd.


This means that Binance Coin will be shifting away from Ethereum, leaving questions open as to what this means for Ethereum, which has been under the pump to stay relevant in today’s crypto and blockchain space. This move will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain and onto the new Binance chain.

A positive investment

All the good news emanating out of Binance has not only helped the coin to climb in price when the rest of the market settles down – it is helping it head towards a new all time high. Binance, like many altcoins, reached its ATH in January of 2018 in that parabolic stage.

Binance Coin hit $24 back then, and now, it is at $21 and rising with the thoughts being that when the mainnet move takes place, there could well be an even bigger surge. It is also interesting to note that just a few months ago, at the end of last year, it hit lows of $4.50.

Competing with Ethereum?

The mainnet move is obviously good news for Binance, as the markets are suggesting, but is it equally bad news for Ethereum, which was the holder of $3 billion thanks to the exchange. Many people have speculated that this new blockchain platform will pose competition to Ethereum, but ultimately it will help diversify Binance Coin’s use cases while also increasing its utility.

So perhaps rather than being a direct competition to ETH, it is only going to strengthen Binance Coin and in doing so perhaps spell out the future of cryptocurrencies as there is good reason to believe that this token, with its added utility and use cases, will be a viable token for the world going forward.

Cover image via 123rf.com
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