Where Will XRP Go in 2018? Here’re a few Exciting Factors about XRP

Where will XRP go in 2018? Ripple (XRP) is turning out to be the best crypto coin in the entire industry amid its strong resistance against the current bearish market trend. The coin is gaining investor’s attention because several banks and payments services companies have announced to use XRP blockchain technology for their domestic and cross-border payments.

Source:coinmarketcap.com

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.199121
-0.92%

XRP coin dipped only 10% in the last seven days compared to a high double-digit decline from its closest competitors. The cryptocurrency market has lost more than $60 billion in the past seven days alone, while Bitcoin (BTC) and Ethereum (ETH) are down 25% and 32%, respectively.

XRP has also successfully replaced Ethereum from the second spot regarding market capitalization. This is due to the enormous drop in Ether price and steady performance from XRP in the past month. Ripple’s market cap currently stands around $19 billion, significantly higher from Ethereum market cap of $14 billion. Traders are excited about the increasing uses of XRP blockchain technology.

Here’re a few Exciting Factors about XRP

Coinbase, the largest U.S.-based cryptocurrency exchange, has recently announced to list XRP on their custodial platform. The reason for adding XRP on Coinbase Custody is to offer a secure and safe digital asset storage solution for high profile investors.

Binance, which is one among the largest exchanges, had also announced to use XRP as base currency on their platform. Binance CEO tweeted: “The xrp base shill is strong. Let’s get it out of your system, and put all your shills under this one tweet, and let’s see how much we get.”

Some of the analysts, on the other hand, are suggesting investors sell their bitcoin and ethereum stakes and put that money in XRP. Ran NeuNer is one among those analysts who are seeing strong future fundamentals of Ripple compared to its peer group. Explaining his stance analysts said hash wars between bitcoin and bitcoin cash traders had created a lot of volatility in crypto markets.

XRP’s partnerships with the largest banks all around the world are adding to trader’s optimism. XRP recently announced the partnership agreement with the Bank of America and JP Morgans Chase. Besides these two announcements, XRP is in agreement with more than 600 companies around the world including the Saudi Central Banks and the Bank of England

Where Will XRP Go in 2018?

XRP coin is likely to face the pressure on its price performance due to the huge market selloff.  However, the majority of analysts believe Ripple will be the winner in the long-term. Ripple CEO says, “Ripple is one of the very few companies which is actually having real money flow through it is a system rather than just the trading money. This is the reason why the CEO believes that Ripple is here to stay over the longer term.”

He is certainly true that XRP is one the coin that is actually generating revenue from clients, which would offer a strong backing to its price performance.  Although it’s quite difficult to predict where XRP will stand by the end of this year, trader’s optimism indicates that it will continue its strong performance in the coming days.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
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Based in Saudi Arabia, Siraj has a strong understanding of and passion for stock and cryptocurrency markets. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others. Siraj is Crypto Editor at TheOofy.com.