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Warren Buffett, the World’s foremost investor is quoted as have having said that the market is a “device for transferring money from the impatient to the patient”. This can be applied to the cryptocurrency market, which is much more volatile. Cryptocurrency investors who have “hdol’d” throughout 2018 have been riding a rollercoaster of anxiety that will pay off handsomely.
XRP’s headwinds are many, and understanding the seasonality of Bitcoin and the associated cryptocurrency market, we anticipate a decline in the coin’s price. This will be temporary and should resolve before Q3 2019. Ripple’s XRP is unique in that there is no mining, which means that a foreign entity could not control the supply as easily, leading to adoption in the financial industry. The aforementioned statement is very important, and that coupled with the Trump Administration meeting could make a banking and government partnership with Ripple possible.
Ripple’s XRP potential adoption by Coinbase, wide support in the major exchanges including Binance and Bittrex make it likely to soar in 2019 as well. XRP’s ranked position as the #3 cryptocurrency by marketcap makes it even more likely to leap as Bitcoin does. Keep watch for BTC’s dominance to breach 55%.
In the short term, XRP has been trading between $0.42 and $0.47 and faces resistance at $0.46. We may see volatility increase next month due to seasonal declines in the cryptocurrency market. We could see a breakout towards $0.5.
Other major headwinds for Ripple XRP:
Cryptocurrency ATMs in India:
Ripple in talks with the Trump Administration:
Ripple’s XRP in use by 3-Financial Firms:
Ripple XRP Coinbase: