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XRP Price Mounts Small Comeback as $2 Turns Into a Support Level

In a rather surprising turn of events, it seems the XRP price is slowly starting to mount a comeback all of a sudden. More specifically, the XRP price has taken a major beating in the past two weeks, but the momentum is slowly turning in favor of Ripple’s asset once again. With a value of over $2, things certainly look pretty solid right now. Given all of the market volatility taking place, it is still too early to speak of a major comeback, though.

XRP Price Momentum may Turn Bullish Again

No one can deny all cryptocurrencies are going through a very rough patch right now. More specifically, there is no stability whatsoever, and $50bn market cap swings are not all that uncommon whatsoever. This also means most currencies will go up or down in value in quick succession, which creates both buying and selling opportunities. In the case of Ripple’s XRP, things have not gone smoothly by any means. The all-time high of over $3.5 is very far away, and we may never see it again.

More specifically, there is some solid XRP price momentum taking place right now. Although all of these gains can easily be wiped out in the coming hours, things are looking rather positive right now. To put this into perspective, the XRP price has gained 13.74% in USD value and 13.63% in BTC value. This latter aspect is rather interesting, as that seems to be the most important market for Ripple’s digital asset right now. If Bitcoin tanks in value – like it has been doing steadily for the past few weeks – the XRP price will struggle quite a bit as well.

At the same time, we often see the XRP price go up when Bitcoin suddenly drops in value. It is evident for everyone to see these currencies are not competing with one another, but they are intrinsically linked regardless. How this will affect the XRP price in the future, remains to be determined. For now, it seems to work out quite well, as it is good to see the XRP price peak above $2 once again. There is still a very long road to recovery ahead, though, but one has to start somewhere.

With over $5.68bn in 24-hour trading volume, things are certainly looking up for Ripple and their XRP asset. This trading volume had taken a bit of a hit in the past week, but things are finally looking up again. With this strong volume, it becomes even more obvious cryptocurrency enthusiasts want to diversify their portfolio first and foremost. Although XRP isn’t a cryptocurrency it can be traded against Bitcoin on virtually most big exchanges. The Bitcoin price isn’t doing too well, this altcoin will become a lot more popular in the near future.

Unsurprisingly, Korean exchanges reign supreme when it comes to XRP trading platform. More specifically, Bithumb generated over $2.1bn in volume, which represents nearly 38% of all trades worldwide. Coinone is in second place, with 8.81% of all trades. Binance is the first non-Korean exchange on the list with their XRP/BTC market. Bitfinex is the first non-KRW fiat currency market with $4489.4m in volume. An interesting situation, even though Korean prices have no influence on the global market average any longer.

Whether or not the XRP price will succeed in surpassing $3 again, remains to be determined. Right now, that seems highly unlikely, although some weird things have happened in the cryptocurrency world before. Until the Bitcoin price shows some movement again – or people finally stop using it as the default value metric for other currencies – no major shakeups should be expected. Then again, this is the most unpredictable financial sector we have seen to date. Anything and everything can happen yet it remains to be seen how it affects the XRP price moving forward.

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Typing Errors in Ethereum Transaction Addresses Caused Losses of Over 12,600 Ether

There is nothing worse than losing funds stored in your crypto wallet. It is pretty obvious that this situation has been a big problem for most users at some point in their lives. A new study shows that over 12,000 ether has been lost due to typing errors that sent money to non-existent addresses. Losing Ether due to Typos There are a lot of things that can go wrong when completing cryptocurrency transactions. For instance, one could enter a completely wrong address due to copying it incorrectly, a QR code could give an error when trying to send money, or one could simply type an address incorrectly. In the latter case, one’s money will be lost forever, as the transaction is often broadcast to an address that doesn’t even exist. Recovering such a transfer is pretty much impossible these days. Research by Alethio Analytics paints a very worrisome outlook in this regard. More specifically, the company claims a lot of ether has been lost due to sending money to nonexistent addresses. It is evident a lot of users have sent money to wrong addresses over the years, and it is possible that up to 12,622 ether has been lost because of typing errors. This is not a figure most people will feel comfortable with whatsoever. Although the exact amount of money lost is subject to interpretation, Alethio Analytics can make some sort of assumption in this regard. After thoroughly analyzing Ethereum’s external and contract accounts, it’s clear there have been quite a few wrong transactions up to network block 5 million. Although it is difficult to determine which addresses are perfectly fine and which are not, the team used an interesting technique to do so. Since no similar-looking Ethereum addresses can exist, they looked at Ethereum addresses which are almost identical. Assuming such addresses exist, the funds stored in one of two addresses were probably sent erroneously. It is not a foolproof technique by any means, but it is certainly one way to go about things. So far, the company’s research seems to indicate that over 2,600 erroneous addresses have been used as part of Ethereum transactions over the years. This means just over 12,622 ether are potentially lost forever, although this number is not exact. Considering that the value of ether has risen over the years, it is safe to say this money adds up to a nice chunk of change. Who this money belongs to exactly remains to be determined at this stage. The bigger question is whether or not more of these typos will occur in the future. Since there is no foolproof way to send cryptocurrency transactions in this day and age, we can only hope people become a lot more careful when it comes to moving funds. Otherwise, this may only be the tip of the iceberg in terms of money lost forever due to human error.

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