Soaring Ripple Price Attracts Attention From All Corners
Although XRP has remained in Ripple news now for the last several months, the investors might finally get a breath of fresh air. It is because the soaring Ripple price in the last few days is expected to initiate a bull run for the coin. This would be a sign of respite for several of its investors too.
Appreciation From Unexpected Quarters
The acknowledgment of a bull run has come from some of the harshest critics of the coin. Peter Brandt, a prominent commodities trader, has been very vocal against the coin’s charts and fundamentals. However, recently he also admitted that some chart evidence suggests that XRP is bottoming against Bitcoin. Considering Brandt’s bearish attitude towards Ripple in the past, this blockchain analysis from him of the two coins would speak volumes of the potential that XRP and BTC carry. Brandt’s analysis was echoed by Galaxy, which is a prominent trader in the crypto space. Galaxy also accepted that both Bitcoin and Ripple may soon begin to move in favor of the pair’s bulls.
However, Reservations Still Persist
Although some of the most prominent crypto traders have been inclined toward a somewhat bullish XRP price, one must refrain from erring on the side of caution. Analyst Nebraskan Gooner recently came out with an analysis of the XRP’s inverse chart against the U.S. dollar, which revealed certain concerning trends. He claimed the inverse of XRP price is slowly pushing toward a support level. He said that this was happening when the on-balance volume indicator had already broken hard.
The Overwhelming Cycle of Soaring Ripple Price
Ripple Labs, the fin-tech company that helped build Ripple’s ecosystem, has had positive news pouring in from all corners. Many believe that this would aid the price recovery for Ripple. Also, Ripple recently availed the services of Algrim, which is a cryptocurrency trading firm. According to XRP news, the inclusion of this new team would help develop Ripple’s on-demand liquidity product, which would use the XRP token to settle and execute payments across the border.
Ripple will also host the Swell Conference in Singapore in early November. Analysts like Luke Martin have proclaimed that as a Ripple-oriented event, this would act as a positive impact for XRP’s price action in the coming weeks. The soaring Ripple price has certainly given its investors a much-needed ray of hope.
About The Author
Sandeep Kumar MishraHi, I am Sandeep, an avid cryptocurrency enthusiast, and a keen & passionate blogger. I love keeping track of the latest social media trends and other hot topics in the digital marketing space, which I love to share with readers like yourselves. You can follow me on LinkedIn and Twitter, too if you like my content.
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