Ripple (XRP) Price Analysis: Recent Euronet Deal Will Give Ripple the Much Needed Push

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Ripple (XRP) is an open-sourced and decentralized real-time gross settlement system. It also works as a currency exchange, and remittance network. It was manifested by Ripple Labs Inc., and the digital currency relies on Ripple Consensus Ledger. The aim of the whole eco-system is to give the whole world a substitute which is more efficient and takes less turnaround time. It maintains complete anonymity.

Current Statistics-

RippleRipple (XRP) is the 3rd largest crypto coin in the global market. It has an ROI of over 5000%. The total number of token available in supply stands at 99,991,643,723 XRP. The current market cap as on 3rd May at 02:59 UTC stands at 12,813,112,602 USD. The value of each coin stands at 0.305038 USD and 0.00005466 BTC. The 24 h volume stands at 933,364,194 USD.

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Comparison-

Ripple coin started the year with a below average price at 0.35 USD right after the crypto winter. It has gone through many ups and down in the last 4 months. The lowest point of this coin was on January 29th at 0.29 USD. However, the highest level was reached after the 1st of April boom. It gained almost 15% of its value in a single day on April 2nd. The market cap on April 2nd was 14,012,306,336 USD. And the value of each coin stood at 0.335974 USD and 0.00007097 BTC. The current market cap is 8.55 % less than the market cap of last month. Similarly, the value of each token has decreased by 9.20 %in these 30 days.

Prediction-

The Ripple (XRP) coin is on a downward trend since the 1st week of April. The price correction stage has been ended, and now the coin is losing its value. But recently the news of Euronet’s new global deal with Ripple has given some solid growth to this coin. The aim of the new deal is to integrate RippleNet at Subsidiary Ria money transfer. The value is now being roaming around 0.30 USD. The next resistance should be at 0.34 USD, 0.35 USD and 0.37 USD. If the coin managed to go past the final resistance, it would breach the 0.40 USD target. This is the short term prediction. By the end of 2019, we predict the coin to reach a minimum of 1 USD in value.

Conclusion-

The current growing pattern is definitely a good time to lock in buying positions. But the biggest gainers will be the investors with tremendous patience.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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