With plenty of bullish market momentum still in place, today is shaping up to be another great day. Surprisingly, it seems the momentum surrounding Ethereum has shifted to XRP a bit. Following some very strong gains, the XRP price continues to rise and could even hit $0.35 this week. There is also a small uptrend in XRP/BTC, which will please a lot of speculators.
XRP Price Momentum Picks up Steam
Yesterday was a bit of an odd day for the fans. Although bitcoin and Ethereum showed plenty of bullish momentum, Ripple’s native asset saw very little change, all things considered. It now appears Ethereum is taking a bit of a break, whereas the value of XRP is moving up all of a sudden. A very interesting development, given the circumstances, but one that will keep people engaged for some time to come.
To put this in perspective, the past 24 hours have been very positive for the XRP price. Following a fresh 7.1% gain, the USD value per XRP has now risen to $0.335668. In terms of XRP/BTC, things are finally moving up once again. Although the 2.8%$ increase is not necessarily very spectacular, it does bring the overall ratio back to 8,513 Satoshi. Positive trends all across the board.
On social media, it is evident there is a lot of excitement. Whether or not that is misguided sentiment, will have to become apparent in the coming days. TheCryptoArtist claims bitcoin has officially entered its next bull run. That also means all other markets, including XRP, will have a good time in the next few weeks.
Ladies and Gentlemen, and Children of all ages…it is with GREAT pleasure, that I announce to you, that on this day, 2/19/2019, bitcoin broke through the pattern, and began its next BULL RUN !!!
— TheCryptoArtist (@TheCryptoArtis1)
Dark Horse Rider sees things in a different spotlight, although he also remains very bullish. More specifically, this user claims XRP will only go forward. That remains to be determined, as there is always a chance the entire ecosystem will fall apart. While no one genuinely hopes to see that happen, it is a possibility that can never be ignored. The prospect of future gains should never make investors or speculators blind to the potential risks.
"If you can’t fly then run, if you can’t run then walk, if you can’t walk then crawl, but whatever you do you have to keep moving forward.” – Martin Luther King, Jr. and can only go forward. I wish him to fly!
— 🐎Dark Horse Rider🐎 (@DarkHorseXRP)
For those who are mainly interested in the actual XRP price chart, it quickly becomes apparent anything can happen. The XRP/USD ratio has seemingly completed its head and shoulder pattern which should result in further upward momentum. Reaching the $0.6 level may not necessarily happen anytime soon, but it is a potential long-term target for investors to keep an eye on.
It's time to watch for /USD.
Have a look at the weekly chart – H&S is complete and now it's at the end of Apex.
The magenta has to be broken first. The orange line is 50 week MA at $0.61.
[19-Feb-2019]— Mihir Naik (@MihirNaik19)
All things considered, it would appear the XPR momentum is finally heating up a bit. When even this market turns bullish and follows the overall trend, an interesting few days lie ahead. While the overall crypto trading volume continues to rise, all it would take is one bit of negative mainstream media news to create another downfall. For now, such news bits have remained elusive, but it is apparent one of them will show up sooner or later.
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.
Image(s): Shutterstock.com
Published at Tue, 19 Feb 2019 13:32:17 +0000
