XRP Just Woke Up From A Long Slumber, $0.5 In The Sights

todaysgazette.com 2019-05-14 17:35
Reading time: ~2 m

While Bitcoin has been on the rise for the last few days, XRP hasn’t had a significant change until things started changing very fast over the last 24 hours. Judging from the market and industry developments, one may attribute the sudden surge to the recent announcement made by a Canadian payment processor called Bidali. Bidali plans to incorporate XRP in its payment system so people can purchase gift cards using the crypto across 150 brands, including Amazon, eBay, Uber, Apple, and Google Play.

XRP Vs Bitcoin

At the start of the year, XRP was doing great against Bitcoin, with one XRP token valued at over 10,000 SATs. However, things got thick over the months, bringing the figure all the way down to 4,000 SATs. Still, the crypto has managed to mount a comeback over the last 24 hours, surging over 19% in mere hours. XRP is now trading above the $0.40 mark.

Above Resistance

XRP’s sudden rise has pushed it beyond the resistance levels at $0.36, $0.38, and $0.39, making it cross the 100-day moving average. If this trend persists, XRP stands to face the next resistance points at $0.42 and $0.44. The strong resistance at $0.46 represents the crypto’s Fibonacci Golden Retracement that’s also its strong support region recorded in 2018. If XRP cross this point, the $0.50 price will be well within reach.

Bull Run Or No Bull Run?

A quick glance at the larger crypto market led by Bitcoin indicates a predominantly bullish sentiment. Most of the cryptos in the market have already caught on Bitcoin’s price activity. In fact, XRP has already exceeded Bitcoin’s surge within the last 24 hours.

Also, seeing as there’s still no sign of the bulls slowing down, it’s fair to opine that an XRP bull run is at hand. As a matter of fact, the majority of the altcoins look well set for a good surge.