Business Magazine

Ripple Price Approaches $1 as It’s Given an Aggressive Price Target

Posted on the 24 April 2018 by Forex News Shop @forexnewsshop

Over the past 2 weeks, the 3rd largest cryptocurrency by market cap has doubled in price pushing $1 from recent post dump lows of $0.45. It’s been a long and uncomfortable 2018 for XRP holders but it seems the floor has been reached and a string of good news stories has led one analyst to give it a bullish price target of $10 – over 10 times what it is now at the time of writing of $0.90. This is why.

In general, the cryptocurrency market has shown strong results in recent weeks. It still is a fact that most, if not all are still heavily pegged to success or failure of Bitcoin. This is partly because it’s the poster boy for cryptocurrency but also because along with Ethereum, its one of the few ways you can buy cryptocurrency after depositing in fiat currency. However, this is all about to change and Ripple will benefit more than most.

Game-changing news. Genuinely.

Ripple is probably the most rumor linked crypto as it can be linked to almost any financial institution or website that takes money or has commercial transactions.

The latest and most exciting news is that the largest cryptocurrency exchange, Binance has pledged to add USD to crypto assets in the near future. This means users can now purchase crypto directly via traditional fiat money without first having to buy digital currencies. Typically, the process is $ wired to a platform, $ to Bitcoin and Bitcoin sold for Ripple. The direct purchase process means the additional process of using Bitcoin will not be required adding speed, efficiency and ultimately fewer fees to get hold of “lesser” altcoins or tokens

Ripple will benefit as one of the cryptocurrencies likely to be a frontrunner for the dollar pairing.

Many investors are wondering if XRP can reach $1 by the end of the month, likely this week if the trend line continues – something it has failed to do since March 5.

Yoshitaka Kitao, CEO of Tokyo based SBI Holdings, has forecast that Ripple will reach a staggering $10 before the end of this year. Although the $10 figure might seem unrealistic, news such as the announcement that XRP has recently been welcomed on Dutch exchange AnyCoinDirect suggests the $1 mark is attainable.

We covered 5 experts involved in tech and crypto so view this article for their predictions.

Most logical, economic reason for the growth

XRP has been steadily rising, posting strong charts after the US tax deadline. Ironically, a government announcement has caused a cryptocurrency price to rise. Ripple posted strong results on the back of passing of the US tax deadline on April 17, which had fueled fears of a sell-off. There had been fears of a large sell-off due to US households owing more than $25billion in capital gains taxes for cryptocurrency holdings.

Experts had warned of tax-related selling before a slow rise in the market shortly after but this dump never really happened but a bounce definitely did showing confidence in the Coin.

Quite possibly various cryptos could be used to hide wealth, avoid traditional tax payments and spread risk from traditional investments. Usually, activity around ISA season sees volatile action on the capital markets at the time of tax return season too.

If we hear of any more developments we will let you know!


You Might Also Like :

Back to Featured Articles on Logo Paperblog

These articles might interest you :

  • Pineapple Pie

    Pineapple

    How are you all surviving these dog days of summer? I have discovered a sweet that will cool everyone down. Pineapple Pie. You can make it with canned... Read more

    The 22 July 2018 by   Kalamitykelli
    FOOD & DRINK, RECIPES
  • 10 Reasons To Market Yourself More Than A Great Idea

    Reasons Market Yourself More Than Great Idea

    Too many entrepreneurs I know still believe that that their great idea will carry the startup, and they may even minimize their own value, especially if they... Read more

    The 22 July 2018 by   Martin Zwilling
    BUSINESS, CAREER
  • In Praise of Liver: Falling in Love with a Widely Reviled Food

    Praise Liver: Falling Love with Widely Reviled Food

    Do you love liver? If you are like almost 50% of Anglo-Western populations, the answer is likely no. In fact, surveys in some countries - UK, US, Canada -... Read more

    The 22 July 2018 by   Dietdoctor
    DIET & WEIGHT, HEALTH, HEALTHY LIVING, MEDICINE
  • Infertility, PCOS and the IDM Program

    Infertility, PCOS Program

    Dr. Jason Fung: I was having a discussion with Megan Ramos the other day in our clinic, and she mentioned that yet another patient had gotten pregnant... Read more

    The 22 July 2018 by   Dietdoctor
    DIET & WEIGHT, HEALTH, HEALTHY LIVING, MEDICINE
  • Magdalene’s Day 2018

    Magdalene’s 2018

    Every year on her feast day, I honor St. Mary Magdalene; even though the Church does not officially recognize her as the patron of whores, she certainly is in... Read more

    The 22 July 2018 by   Maggiemcneill
    LOVE & SEX, SEXUALITY
  • Cops and Robbers

    Cops Robbers

    The deluge of GDPR emails has finally dried up, thank the Lord. For the uninitiated, GDPR stands for the General Data Protection Regulation 2018. Read more

    The 22 July 2018 by   Jackscott
    DIARIES, EXPAT, SELF EXPRESSION
  • Holy Grove and Ripple Music Announce the Completion of the Upcoming Album by...

    Holy Grove Ripple Music Announce Completion Upcoming Album Portland's Epic Heavy Doomers

    Ripple Music is thrilled to announce that Portland, Oregon, heavy rockers Holy Grove have just completed the recording of their second full-length, to be... Read more

    The 22 July 2018 by   Ripplemusic
    ENTERTAINMENT, MUSIC

Magazines