On Monday, the crypto market witnessed as XRP price rose above $0.70 price level. The recent rally that the coin experienced was as a result of the “WallStreetBets crowd-pump”, as Jehan Chu said. The upsurge experienced by the XRP some days back took the price from $0.25 to $0.75.
Despite Ripple, a major issuer of XRP, passing through a time of uncertainty, the coin has managed to keep afloat. At the moment, XRP is in a consolidation with the price trading at around $0.44 and could rise to aim for the next resistance level before it continues upward.
XRP Has Real Utility And Will Rally Again
There are discussions as to whether the XRP is still relevant now that there are stablecoins like the USDT and the CBDC (a digital instrument issued by a Central Bank). There are further doubts if XRP could fare better that the two leading coins (Bitcoin and Ethereum); or even surpass them in market capitalization.
MagicPoopCannonn, a crypto analyst, thinks that XRP has real utility and cannot be held back by market capitalization limitations. He said that if the coin could achieve its goal to make high transactions due to its utility, the coin’s market cap is going to soar. Magic believes that the coin’s market cap is about to blow up since it has real utility. He further predicted that XRP could move from the current price ($0.44) to reach about $9 or as high as $20, and cap it at $50.
He mentioned that such price marks aren’t difficult for the coin after it experienced a growth of about 76,000% back in 2017. Magic concluded that XRP is likely the best crypto coin with the most potential of an upsurge. After considering the resurgence of XRP, analysts are predicting that the coin may continue its rally.
Read more: https://tokenhell.com/xrp-price-is-due-to-the-fact-that-it-has-real-utility-crypto-analyst/
