Seekingalpha cites 3 major reasons why XRP could decouple from bitcoin and lead the crypto pack into the recovery land in 2019.
- Ripple has shown signs of breaking away from Bitcoin in trading prices this year; a trend that could extend into 2019.
Decoupling in a nutshell is being free from Bitcoin’s influence: It is a well-known fact that most of the altcoins and their prices are highly dependent on bitcoin price movements. Every time bitcoin hibernates and enters a slump, altcoins crash even harder.
For XRP to truly be independent of bitcoin though, it needs to be decoupled from Bitcoin which has impacted the state of crypto markets since their inception. The only way to properly do this would be to have more exchanges offering XRP as the base pair – offering trades in XRP in addition to BTC, ETH and stablecoins.
- Ripple’s XRP coin value will depend on institutional adoption, which got a big boost this week with an announcement.
As AMBCrypto writes, Ripple made massive partnerships with major banks and financial institutions around the world, like Israel’s GMT, Turkey’s Akbank, MoneyGram, AmericanExpress, CIBC, Earthport, and many more who have the access to use Ripple’s blockchain technology for cross-border payments and more.
Akbank announced that it was using Ripple’s blockchain technology [Ripple Net] to transfer the GBP to U.K.’s Santander, another financial services company. This announcement doesn’t clarify that it is not using XRP as bridge currency, but it doesn’t mention that it isn’t either.
Moreover, Brad Garlinghouse, the CEO of Ripple, words did come true, but partially because he had said that at least one bank using Ripple’s ‘xRapid’ by the end of the year 2018.
- Only one big threat hangs over Ripple’s head, especially if it peels away from the “crypto” category, and that’s regulatory classification.
Cryptobriefing.com argues that Ripple is two steps ahead of SEC on this issues,
By rapidly pushing their cryptocurrencies to full functionality, crypto companies like Ripple can create enough “Facts on the ground” to escape a securities classification altogether.
Ripple may be too big too fail. But in case that’s not enough, the company is rapidly becoming the kind of prey that’s just… too much trouble.
Ripple (XRP) Price
As FXStreet.com analysts write, Ripple bulls made a swift move to $0.40.
Ripple’s XRP enjoying decent run higher in the session on Monday. Double-digit gains, as the cryptocurrency market wide rallies. This coming after a recent bottom area, which saw the price hovering around for around 10 days, within a narrow range.
Looking via the daily confluence detector, there isn’t too much in the way of strong barriers. Starting with the nearest the upside, $0.3255, which is last week’s high. Further to the north, $0.3387, which is a weekly pivot point.
For greater upside, bulls need to break out of the current range block. XRP/USD is heading towards the upper part of this, sitting at the $0.3200 mark. A breach out from this seven session range, could open the door for a fast move back into $0.40 territory.
