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Current hourly cryptocurrency charts appear incredibly weak, which means that most cryptocurrencies will see another retracement in the next few hours. Until that happens, there is still a positive moment when the XRP price is affected. Although it has not yet recovered the $ 0.3 level, there is a certain positivity among community members. This pure optimism can usually do a lot in this rather volatile industry.
The XRP price is higher
It is quite interesting to keep an eye on the value of XRP during this bearish year. This resource has been severely beaten, yet it seems to come stronger every time. It is also one of the most resilient markets to date, although it can not escape the gravitational attack of the world's leading cryptocurrency these days.
In the last 24 hours, however, there has been an interesting uptrend in XRP on the charts. The 2.2% gain in value in USD is promising, as it pushes the value back to $ 0.29. This is still a little less to regain $ 0.3, although this current price is apparently more than acceptable. There is also an increase of 0.2 in the XRP / BTC ratio, although it is almost negligible.
There is another voice that swells when it comes to XRP. More specifically, some sources – erroneously – assert that there will be a partnership between Ripple and Amazon to push forward the use of XRP. Since neither company has issued official statements about it, it is clear that the rumors are none other than this. It creates a bit of excitement, though it may not necessarily materialize at any time, if ever.
What is genuine, however, is Binance's XRP wall buy which materialized a little while ago. It was valued at a total of $ 1.1 million, which is a very significant upward pressure above all. It is not exactly normal that such large purchase orders accumulate regular exchanges, although this may be a false order to create an artificial impulse.
This is a wall of purchase @binance $ 1.1 million now. To live. #xrpcommunity #xrparmy #xrpthestandard #cryptocurrency #crypto #RippleNet #XRP #xRapid pic.twitter.com/GC6mf7xXN0
– XRP_Canada ✖️ (@XRP_Canada) December 16, 2018
Looking at the technical bases for XRP, it seems that a bullish breakout is more than justified. The asset is entering a narrowing channel and will increase or decrease in value in a spectacular way. So far, the graph leans toward the positive side, although nothing has yet been defined in the stone.
Ripple #XRP Todo Listo Para A Gran Brote En Las Próximas Semanas #criptomonedas https://t.co/nMfxVITVGQ pic.twitter.com/F7ylDhDLT9
– Americancripto (@americancripto) December 16, 2018
All current signals point to a further stability of XRP prices, which is never negative for enthusiasts and investors. While some people would rather see a big uptrend materialize before the New Year's Eve, this seems highly unlikely. Nothing justifies a big bull at this time, especially since the days of the week usually cancel the gains incurred throughout the weekend.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
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