The last 24 hours have been extremely boring as regards the XRP and cryptocurrency markets in general. The global market capitalization remains at $ 127 billion and it seems that the market is frozen over time. New years are coming next week and it is likely that the market is waiting for 2019 before making any major moves.
After briefly testing the support at the $ 0.38 level, XRP is currently trading at $ 0.36. The volume of trade also declines after the jump to $ 0.44 on December 24th. Traders are waiting in the margin for the next asset move before they jump into the market.
After announcing support for XRP deposits, eToro received feedback from the community on Twitter. CEO of eToro UK Mr. Iqbal Gandham responded to the community and addressed their concerns.
In other news, Uphold announced that XRP has just passed the BTC as the biggest digital resource. In particular, according to their website, Uphold has 25.5 million dollars in bonds for BTC and $ 27.1 million in bonds for XRP – a fairly interesting statistic. This shows that many investors are interested in XRP and certainly see the potential in the digital heritage.
– Uphold (@UpholdInc) December 26, 2018
Speaking of XRP results, the register was 6 years old on December 21st. The amount that the team has been able to achieve in such a short time is staggering and the valuation of nearly $ 15 billion is well deserved.
– Bitstamp (@Bitstamp) 21 December 2018
The last great news that happened this week was the addition of XRP as the base currency for exchange no. 1 of the cryptocurrency – Binance. When the CEO tweeted the news, the market reacted sharply by more than 20%.
We will add a couple of trading pairs with XRP as a short-term quote currency.
And rename the ETH markets in the ALTS market. Running out of space on the user interface.
– CZ Binance (@cz_binance) 24 December 2018
The road ahead
There are two events in the near future that can really help the XRP price. The first is if Coinbase announces the integration of the digital resource with their platform. So far there have been no news from the platform, however digital resources like XRP and XLM have been mentioned along with 29 other cryptocurrencies in the Coinbase blog post on December 7th.
"The goal of Coinbase is to provide support for all resources that meet our standards and are fully compliant with local laws. Over time, we intend to offer our customers access to over 90% of all digital compliant resources "
The other event that can trigger a market movement is the SEC announcing further regulations on digital resources. While we have not heard anything yet from the SEC, they recently tweeted one of their originally published announcements on October 11th of this year.
Considering investments in digital assets? Read this first: https://t.co/FBEGxZ6gUW
– SEC_News (@SEC_News) December 26, 2018
The announcement is titled: "Investor Notice: Pay attention to the false claims on the SEC and CFTC approvals used to promote investments in digital assets". In the post, the SEC mentions:
"Both agencies will announce any official actions, including those relating to digital assets, through official government sources"
If the SEC is able to determine whether or not XRP is a security, this will ensure clarity for companies that manage digital assets such as XRP and will pave the way for innovation. Until the SEC comes out with such an announcement, progress will be made at a much slower pace, as companies will have to guess their every step.
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.