The 2019 season for some altcoins is not the best year. Many investors and traders could not get positive outcomes amid various moves on the crypto market. One of the main altcoins, XRP, is remaining in focus. The company’s project has several advantages for the banking industry.
However, the performance of its altcoin has many questions to discuss.
In comparison to the Bitcoin price, XRP and Ethereum lost significant numbers in terms of value. For example, according to the crypto market stats, XRP managed to drop by 47%.
Although many altcoins have performed terribly in 2019, leading analysts and experts tend to believe that next year will show better results.
XRP: Hit the Bottom Before New Highs?
One of the leading traders, who has a good reputation among crypto community members, mentioned his opinion on XRP.
According to his analysis, XRP is currently positioning itself in a falling trend.
It is worth mentioning that the XRP/USD may become attractive for investors and traders, as it may repeat the 2017’s performance once again. Nonetheless, the 2020 year can be decisive for the altcoin, as the Ripple is looking to launch several projects with major world banks. Notably, another analyst is seeing the same scenario for XRP, as its price may break new highs.
Instead of using technical analysis, Van De Poppe noticed that the price is repeating both up and down moves over time. By applying this chart’s trend, he noticed that traders and crypto users might see the price surge in 2020, at least by 175%, based on the current price.
Ripple: The developments for the banking sector in 2020
It is not a secret that Ripple’s progress, as well as positive test results of xRapid by major banks, do not affect the price. At least, directly.
While the majority of the crypto community is focusing on the Bitcoin price, others still follow news by Ripple Labs. This year was also a good sign of the fact that the company is ready to become the number one competitor in the banking sector by implementing its products and services.
Moreover, Ripple has finished the investing Series C round by receiving $200 from the top Japanese financial giant – SBI Group. Can we witness the banking revolution by Ripple and the surge of XRP in 2020? Follow us to get the latest news from the crypto world.
This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose.