This XRP price uptrend is the direct result of ongoing gains in the XRP/BTC department. Despite Bitcoin’s minor loss over the past 24 hours, it is not dragging XRP with it just yet. Instead, the ratio improved by 2.88% in favor of the digital asset, which allows the XRP price to remain near the $0.5 level for the time being.
With a notable increase in the 24-hour trading volume, the coming hours look rather positive for Ripple’s native asset. Over $423m worth of XRP has changed hands over the past day, which is a solid increase compared to previous weeks. It also seems to confirm speculators are diversifying their portfolios once again, which can only be considered to be a good thing.
Surprisingly, the vast majority of XRP trading volume doesn’t originate from South Korea. Instead, it is Japan’s Bitbank which dominates the volume, followed by Bithumb and CoinBene. Binance and HitBTC complete the top five, which makes for a rather unusual and interesting mix of exchanges. Two fiat currency pairs in the top three can spell further positive momentum for the XRP price.
As is usually the case, predicting cryptocurrency price momentum is virtually impossible The XRP price is no exception in this regard, as it seemingly follows a completely different pattern compared to other cryptocurrencies. Whether or not that is a good thing, remains to be seen. For now, reaching $0.5 is still possible, but maintaining it is a very different kind of challenge.
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