Home / Crypto Currency / XRP Price Push to $0.55 Stalls Despite Additional Exchange Liquidity

XRP Price Push to $0.55 Stalls Despite Additional Exchange Liquidity

Another day dawns upon the cryptocurrency ecosystem and it seems things remain in the green, for now. A lot of eyes are still on XRP after yesterday’s massive uptrend. Those gains are still in place, albeit XRP has come up short of overtaking Ethereum in terms of market cap for more than a few hours.

XRP Price Rise is far From Over

After what happened throughout most of 2018, it is all the more surprising to see XRP continue its uptrend at this time. Not because the asset isn’t valuable or even undervalued, but rather because this year hasn’t allowed for any major uptrend which lasted for over a few hours. This time around seems to be very different, although the going is still relatively subdued, for now.

With these price gains of yesterday still in place, things have taken a very interesting turn where XRP is concerned. Another 1% gain has formed on the charts in the first few hours, albeit there is some concern in the BTC department. A minor setback against Bitcoin is not something to be overly concerned about, but it is not promising either. XRP Will need to remain above 8,000 Satoshi to stay above $0.5.

As is usually the case when XRP gets momentum, there will be some pieces of information to disrupt things Swift, often considered to be one of Ripple’s major competitors, has made it clear they are not interested in partnering with Ripple or using any of its products. That is not entirely surprising by any means, primarily because Swift is confident they can remain the top dog without too many problems.

In other news, it would appear XRP is getting a bit more liquidity across different exchanges and trading platforms. XDAEX, for example, has resumed XRP trading this week, and users can exchange this asset against both Bitcoin and USDC. This is another interesting development, as more and more exchanges pay attention to this digital asset as of late.

Another exchange is paying attention to XRP, as the platform will offer XRP/USD and XRP/BTC trading. CGCX is a Singapore-based exchange which offers fiat to fiat and crypto to fiat trading alike. By actively supporting XPR, among other currencies and assets, the company will undoubtedly get some attention moving forward.

All of the current momentum seems to indicate there may be future XRP price gains on the horizon. A push to $0.55 is not impossible by any means, although it will mainly depend on whether or not the asset will continue to lose ground against Bitcoin. Its trading volume has surpassed $1.18bn again, which is a rather bullish sign under the current circumstances.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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