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Bitcoin News - XRP Trumps Bitcoin on Uphold. Precursor to Future Flippening?

  • Alex Morris
    📰 News

    Their XRP obligations have surpassed those of BTC by almost $2 mln on Uphold as the platform is witnessing growing popularity with Ripple fans

XRP Trumps Bitcoin on Uphold. Precursor to Future Flippening?
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Digital payments startup Uphold recently announced that XRP had surpassed Bitcoin (BTC), becoming the largest cryptocurrency in USD value. Uphold’s XRP obligations are nearing $28 mln.

Surpassing the flagship coin  

If one were to remove all altcoins, it turns out that Uphold has more XRP obligations than BTC. As of now, XRP is standing at $27.6 mln in comparison to Bitcoin’s $25.9 mln.

altcoins

A cursory look at the Reddit community shows that many users stick to Uphold specifically to buy XRP. Hence, these statistics are not entirely surprising. In 2018, a slew of major trading platforms (Revolut, eToro, and Uphold) listed XRP. Meanwhile, their indignation with Coinbase continues to grow since the major US fiat-to-crypto exchange continues ignoring the second biggest currency by market capitalization.

Binance, the biggest exchange by trading volume in the world, recently rolled out its XRP-based trading pairs, which also gave a substantial boost to the asset’s price. However, some users choose Uphold over Binance as it has a level of fraud security (its insurance covers a small percentage of holdings). Uphold has also recently stated that they are ‘working hard’ in order to acquire the NY Bitlicense.

👉MUST READ Domino Effect: XRP Listed as Base Pair on Australian Cryptocurrency Exchange

Is the flippening ever happening?

In the first week of January, XRP briefly outperformed BTC with 25 percent relative gains, but the rest of 2018 turned out to be bumpy for the currency. In February, it already experienced an 80 percent drop from its ATH, and the rout even worsened through the year. Moreover, Ripple CEO Brad Garlinghouse was hit with numerous securities lawsuits.

On the flip side, the adoption of Ripple’s technology is growing worldwide, and September’s xRapid release triggered a major bull run. After XRP flipped Ethereum in September, it now firmly holds its second place again.

While there is a mammoth-sized gap between Bitcoin and XRP, it is quite possible that XRP will be a winner in the long-term if Garlinghouse’s expectations come true and ‘dozens of banks’ start adopting the currency.

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Bitcoin News - XRP Price Predicted to Stay in a 4-Cent Channel — What Needs to Happen for Coin to Rally

  • Jack Thomas
    🤷 Opinions

    ✋👀🔥XRP’s price has found a spot between $0.30 and $0.34 that it is having problems breaking above, as well as below; what can trigger a move?

XRP Price Predicted to Stay in a 4-Cent Channel — What Needs to Happen for Coin to Rally
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Ripple and its native token XRP have had a busy time in 2019 with a number of big and key partnerships being formed, however, the movement in price of the token has been relatively disappointing, getting stuck in a channel of about four cents.

Ripple has been aiming itself at being the best answer to a digital asset that can be used in interbanking conditions as well as across borders; because of this, the company has been seeking out major companies and financial institutions to align itself with.

This is a good move from a cryptocurrency and blockchain startup, showing positive growth along its roadmap. However, even with these good news boosts, the price of XRP has struggled to move out of this spot between $0.30 and $0.34.

Things like being listed on Coinbase Pro as well as popularity across investors in the general market have hardly shifted the price, so the question needs to be asked: what will it take to move and shake the XRP price?

No news boost

Ripple’s performance has been dismal and lagging in the last few days. On the one hand, there are expectations that prices will head higher once Bitcoin recovers, but Ripple itself will not want to be so tied to the decentralised major cryptocurrency.

It has been building its own base up with the Coinbase listing and plans of venturing into the multi-billion gaming industry via Forte, but that has not pushed the price of the coin above $0.34.

News in the past year, through the bear market, was struggling to have an effect on the price of certain tokens, unlike in 2017 when the market was extremely bullish. Now, there is a small change in the sentiment, with some people calling it the beginning of crypto spring, but it has not been strong enough to ride on the good news that abounds.

What will it take?

The assertion that Bitcoin will lead the rest of the market is a tried and tested one. When Bitcoin is rallying, the remaining coins near the top of the Coinmarketcap rankings are never far behind. However, there has been talk of an altcoin season leading the way into crypto spring.

Certain altcoins, like Litecoin, Binance Coin, and EOS for a small portion of an example, have seen a successful beginning of 2019, and have been part of the reason why Bitcoin now finds itself over $4,000 for the second time since November last year.

If XRP was able to break its strong ceiling and get past the $0.34 mark in one of its own rallies, it may well be able to stay there with the strong altcoin sentiment at the moment. But, what it needs to get above that mark is still very unknown.

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