Ripple XRP is the only Crypto inside the ‘top 10’ that is currently spending the day on the rise.
Ripple’s XRP has risen from $1.29 to $1.44 in the last 24 hours, whilst Bitcoin has dropped from $15,702 to $14,687. The news surrounding Ripple has been positive for a while now. Banks and big institutions appear to be turning to Ripple in order to explore faster and cheaper options for cross boarder payments, as well as the use of Distributed Ledger Technology (DLT).
At this moment in time we would not be surprised if Ripple’s XRP were to reach $2 by the end of the year. We also believe that it is only a matter of time before Coinbase adds XRP to its platform; if this happens, we expect a spike in price (for the short term at least).
Whether Ripple can keep this momentum going on through 2018 is yet to be seen. Many announcements in relation to Ripple do not actually include the use of its ‘XRP’ token. We await an announcement that a major Bank or institution will adopt Ripple’s XRP and not just its network.
Why has bitcoin fallen?
As stated above, whilst XRP has been rising, Bitcoin has seen a drop in price. The reason for Bitcoin’s recent decline is likely to be linked to announcements that South Korea will be introducing tougher regulations on Bitcoin trading.
We have been stating that we expect 2018 to be a year where governments around the world introduce more regulations on Bitcoin and Cryptos. More regulation does not necessarily mean that prices will fall in the long term.
Cryptos have had a massive impact in 2017, will we see the same again in 2018.
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We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.