Today we are going to take a look on Ripple’s XRP to see if it has potential to recover after the massive decrease from the past two weeks. Some speculators have claimed that the virtual coin will see a five dollar price by the end of this year, but is that still possible after the recent drop?
According to numerous analysts, Ripple is going to be losing many supporters over the next few days. Currently having a market capitalization of $53 billion it is still on the third place, according to CoinMarketCap’s Top. Wth a volume of $4 billion, it is still a pretty healthy one and the coin is still consolidating, but a lot of weak hands ar being created. Long-term supporters of XRP are now affraid that the market will not manage to recuperate after 5 days of being low. The holding strength will be tested in the next period of time.
This recent market correction was needed, the weak hands were needed, so that there is room for whale-buying opportunities. It might be possible that when the whales will see these lower prices, they are going to infuse capital.
The graphs of Ripple have been all over the place in the past days, as most coin had a lot of activity at the beginning of the year. But if we think about the December value of XRP, $0.77, the coin has had a positive road until now. There is a slight possibility that Ripple’s coin to mark the $1.60 or even surpass the $2 milestone. With future big partnerships or announcements, and with more proof of its utility, we are going to see XRP rise. As you know, MoneyGram has partnered recently with Ripple to test the currency transfers, and with a company so big as MoneyGram, the probability for XRP to grow again is massive. Of course, this will probably happen if the tests go well, and they come back reporting great news about Ripple’s XRP and its capabilities to do what it says it can do.
For the moment, it is still in Top 3 currencies, having Bitcoin Cash behind, but at a small distance. If in the near future, companies like MoneyGram would report good things about Ripple, we are going to see the price go up. Moreover, it will keep its place in top 5 by the end of the year if Ripple will prove its utility.