XRP price, one of the leading cryptocurrencies in the market, reached a level of $ 0.87 today, a level not seen since April 2018. XRP price fell heavily after the US Securities and Exchange Commission (SEC) sued Ripple(XRP) .The cryptocurrency had declined to $ 0.17 within a few days following the filing of the case and then recovered a little from there.
XRP, which then remained quiet for a few months, has entered an uptrend since March 15. The cryptocurrency climbed to $ 0.87 today, an increase of nearly 40 percent. XRP price last saw this level in April 2018.
Analysts attribute the price action in XRP to the general rise in altcoins rather than the cryptocurrency’s unique development or techniques. There is also an increase of over 20 percent in XLM, which is known to move with XRP frequently. XLM finds buyers at $ 0.53 at 19.40.
Meanwhile, the positive or negative developments that will occur during the SEC litigation process are expected to have a direct impact on the XRP price.
The recent uptrend in the XRP market has created new all time highs in many areas. Traders have become jittery as the price of XRP has recently hit a new high in the global market. Traders are concerned with what this means for the future, whether it will lead to greater prices or a new all-time low. Traders now have enough reasons to be concerned, and many more to worry about. Traders in the market are worried that the market may move against them once again and begin a sustained fall. Should you be concerned?
If you are one of the many traders that are watching the XRP market with great concern, then you should not be. While this is certainly a concern of mine, I am also sure that many others in the market are as well. There is no reason to be concerned, and I don’t see any reason to worry either. The market is actually seeing an uptrend for this precious metal, which is great for those investors that bought into the uptrend at the top of the market. Now, you might be worried that the prices will fall back, but I think that you would be mistaken, especially once all of the large buyers begin pulling out of the market.
What many investors fail to realize is that the market cannot continue to rise in size forever. It will, at some point, stabilize after it has experienced such dramatic increases in its size over the last few years, but you have to understand that things are not going to remain static forever either. Trends do not occur in a day, week, or even months. As markets grow, there is a very real possibility that the XRP price will move back towards its base, and this is always a good thing to watch for.