Now after weeks of price hurdle and struggling, cryptocurrencies are trying to see above the surface they once left. Ripple has climbed today with 3.39% gain against the US Dollar to $0.1859 while proportionally the negative decline against Bitcoin market is dropping to -3.19%.
The quite market developing now that has taken place is a result of traders realizing that the reaction to the Bitcoin-to-fiat exchange banning was a little more than needed. On top of that the XRP price should not been tanked that way especially.
However cryptocurrencies are treated as somewhat of a commodity meaning that if there is trouble in any point of view with Bitcoin it will be directly reflected to Ripple, Litecoin and so on.
The main target now is to keep pushing upward with the hopes to clear out $0.195, successfully close above the mentioned mark and start stable trade towards the major psychological $0.2000.
Ripple’s global trading volume counts only five percent in China exchanges. Adding to that is its main target and purpose: disrupting SWIFT’s standard function as a sender throughout international money transfers.
Just the idea behind it made Ripple being popular and being hit by the mainstream factor on masses – its negotiating and dealings for the better.
On the other side, there is Bitcoin which is “considered – a rival” to the traditional currencies we use or fiat money as it wants them to be taken away. So in general the Central Banks or regulations have not found liking in that. So there should be no regulation against Ripple as per the moment.
Starting from that while knowing that one is a blockchain network run from an enterprise as the other is a public one – The price predictions for Ripple and any other blockchain cryptocurrency like Bitcoin should be completely different for the longer term.
In the longer term, it could very possibly happen that Ripple could take over 2018 with its gains, as its tokens are directed which way to go by the company behind it and the support XRP finds is in the negotiation the enterprises gets cleared. This might lead with XRP against the USD to trade at around $2.00 at late 2018.