XRP (XRP) surges more than 8% in 24 hours

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and… read more.
on Oct 5, 2020
  • The coin is currently occupying the 4th position on CoinMarketCap’s list of cryptocurrencies.
  • Analysts believe XRP might make moonshots to hit £23 by 2023.
  • Ripple Labs is planning to launch a platform that offers real-time access to crypto markets.

The crypto market opened trading today with most of the coins registering little or no movement. In the top-10 list of cryptocurrencies with this highest market caps, only four coins have gained more than 1% over the past 24 hours. These are Cardano (ADA), Chainlink (LINK), Polkadot (DOT), and XRP (XRP). Bitcoin, the leading coin regarding market cap has only surged 0.92% and Ethereum is up 1.42%.

According to data from CoinMarketCap, XRP is the biggest gainer in the top-10. At the time of writing, the coin is trading at £0.19. This figure denotes an 8.28% gain over the last 24 hours and a 3.47% gain over the past seven days. While these gains are significant, they have not pushed XRP up regarding its rank seeing as the coin is currently sitting at the 4th position. Also, XRP has remained in the same price range that it has been trading at for more than a month now after finding support at the £0.177 level.

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However, analysts believe that this rally has the potential to push its price higher should the coin avoid a downward correction past £0.187. Additionally, XRP would need support form the broader crypto market to breach past its current resistance level at £0.196.

Crypto experts predict XRP might surge to £23

XRP’s gains today come after Credible Crypto, a renowned crypto expert predicted that the coin has the potential to surge to £23 in the next two to three years. The analyst made this prediction on October 2 through a series of tweets, noting that the coin might soar in the next bull run to reach such levels.

Credible Crypto’s tweet read,

“Keep it real. XRP price IS NOT “pre-determined.” XRP IS NOT “backed by gold”. XRP WILL NOT reach the prices BTC has ($10,000+). XRP will NOT replace the dollar. But it doesn’t need to do ANY of these things to make you and me life changing money over the next 3 years.”

He added that,

“I don’t know about the long term, but look for $20-$30 over the next bull run (2-3 years).”

Ripple set to launch a trading platform offering real-time access to crypto markets

In related news, Ripple Labs unveiled that it seeks to roll out an enterprise-grade trading platform that will offer real-time access to crypto markets. The firm disclosed this news by posting a job advertisement for a senior software engineer for liquidity. Per the publication, the liquidity engineer is mandated with building the aforementioned platform and handling execution algorithm modelling and implementation. Additionally, the candidate will be responsible for sourcing and aggregating liquidity.

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