The cryptocurrency market is in a phase of active growth and now is the time to review Ripple news. The coin finally began to win back the lag behind the big brother and other members of the elite five. Let’s see what is associated with such a sharp jump in XRP price and what can be expected further.
Bitcoin conquers new heights in 2020. Now the main cryptocurrency has almost reached the level of $10,400. Of course, this positively affects the entire market, which is in green. When analyzing the Ripple price, it’s worth noting that the BTC didn’t hook the coin initially, and there was not enough fuse to win back the price reduction of past days. However, the good XRP News arrived just in time.
Changes in Ripple price
Throughout the past week, the XRP price gradually fell to the level of $0.27. And only the last day began really active growth. Now the price has come close to an extremely important height of $0.30 and even overcame it on some exchanges.
As we wrote in the previous Ripple price prediction, $0.30 is the key level for the coin. If it manages to gain a foothold above this level, then we can talk about a full trend reversal and a campaign in the zone of $0.40 and above. Another important criterion for growth we called fundamental Ripple news. If they had not appeared, there would not have been enough gunpowder in the XRP barrel.
XRP news that affected the price
We all know how good news affects the price of cryptocurrency and Ripple is no exception. During the week, 3 events occurred that affected the coin price:
- Important Ripple news appeared in the middle of the week. The company agreed a new partnership with Intermex, one of the largest remittance companies in Latin America. This event kept the price from failure below $0.27 and short-term returned it to the level of $0.28 but then followed by a decline.
- The next event was related to Bitcoin, which broke out beyond $10,000 and pulled the entire market up. For Ripple, this movement has become supportive.
- The decisive news for Ripple was the announcement of a partnership with the National Bank of Egypt (NBE). This is worth telling in more detail.
Egypt ranks fifth highest remittance recipient country in 2019. Joining RippleNet should open up new markets, as well as increase remittance business. Today, more than 300 international banks and institutions have joined RippleNet, which opens up great prospects for all participants. This Ripple news became a real jet fuel for the coin and the price quickly reached $0.30, which is + 11% of the cost. But what’s next for XRP price?
Ripple price analysis
Well-known crypto trader Luke Martin in his Twitter account said that the XRP price should be 30% higher than current values. He explained that altcoins are moving collectively and Ripple is now behind the total.
The altcoin market has reached neckline and many of the coins have already broken through it. Now we can expect a full upward trend, but for XRP, everything is just beginning. The analyst believes that a breakthrough will occur in the coming days and the price should be at least 30% higher.
Ripple news will bring prosperity?
What conclusions can we draw? Of course, events are developing in the best way, the price has managed to break through an extremely important level, it remained to gain a foothold above $0.30. If Ripple succeeds, we can expect a hike to $0.40.
It seems that Bitcoin will continue to move upward in anticipation of halving. This is another plus for the XRP coin. Positive Ripple news may also appear. The coming days will be decisive, so we advise you to closely monitor the events and be sure to read our Ripple price prediction in a few days. Watch out for pullbacks!