The XRP market price is moving, though on a limited scale. XRP is up to $0.27, with expectations of regaining $0.30.
Here are the five factors that may put XRP back on the map.
Ripple Signals Lowered Selling: The Ripple Escrow releases 1 billion coins each month, but Ripple, Inc. signaled it would not rush to sell the coins. There are still signs of relatively large-scale selling, but XRP markets absorbed that amount, possibly coming from the limited selling of Jed McCaleb. The Ripple stash escrow will keep releasing coins until 2038.
Altcoin Season Signs: XRP is still one of the relatively low-priced altcoins, and also among the most liquid ones. Early signs of an altcoin season, based on lowered Bitcoin (BTC) domination, mean XRP may start to move first. XRP received direct inflows from Tether (USDT), boosting independent price discovery.
Gains in Satoshis: XRP is also highly active in its pairing with BTC. Technical indicators point to a reversal of the trend within that pair, potentially leading to Satoshi appreciation.
CoinField Joins as Validator: The CoinField exchange points to becoming a validator, in order to explore further use cases for XRP. This type of adoption, along with adding the asset to BitPay, XRP sees growing technological interest. Currently, the network reveals 31 validators, of which Ripple controls seven.
Ripple Rebranding its Products: The RippleNet product will combine the features of xRapid and xCurrent. This means that banks, the chief xCurrent users, will also have the option to use XRP. Some banks and entities have received significant XRP funds, and may use them to test the new, united product.
XRP remains unpredictable, and still faces a large group of critics and detractors. Still, after a long period of stagnation, XRP is being heavily promoted, with new expectations that the price action would follow.
There are also predictions XRP may stage a rally of its own, achieving gains of up to 300% from its current price.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.
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