USA – Ripple’s XRP ended the year 2019 with a rational share of loss along with other cryptocurrencies worldwide. However, it tried to bounce back to relieve its glorious day. Now, there’s a possible way to hit $1 this year.
Ripple’s XRP used to be a performer back in January 2018. After its debut in the digital asset market, this cryptocurrency jumped to $3.02, is an all-time high. Moreover, it increased over 1000% before the notable feat.
The gradual growth of XRP made it the third-biggest digital asset. On the other hand, this cryptocurrency began sliding down gradually. Sooner, it lost over half of its recorded all-time price.
Last year was not an exception for XRP as its price continued to hover around the mark of $0.20 for months. The digital token is currently exchanging at $0.23, wherein it took advantage of a previous partnership agreement declared by the company. Regardless of its improving start this 2020, spectators are wondering how this cryptocurrency can climb to a mark of $1.
This year promises a good one for cryptocurrencies, especially for Bitcoin, who’s set to experience another sharing event. Bitcoin is the largest cryptocurrency, and it increased several times, which propelled other altcoins to increase along with it.
Bitcoin increased by 20% this 2020, and it’s anticipated to undergo more strong trends. Part of the rise of XRP this year is also based on Bitcoin. Also, it’s the history of an immense bullish run. These will take XRP along for a good ride.
Another aspect that can help XRP to increase to the mark of $1 is its progressive schemes. The company declared several partnerships in the previous few months. One of the organizations is with Moneygram, wherein it witnessed a rise of 14% from the last week. It also coincided with a new mark for the transaction development of Moneygram. Moreover, the 14% climb of XRP made it the second-biggest gainer in the top 100 when it comes to market capitalization.
Ripple Net, a Thailand-based bank, also teamed up with Siam Commercial Bank. It appears to make it the basis for a new application and payment scheme. This app will introduce the six million bank users to XRP, which can increase its daily exchange and exposure.
XRP also was able to display its resistance level by keeping a $0.20-mark throughout the fluctuations. Many strong traders cash in on the cryptocurrency. With the gaining impetus, coupled with several expected signs of progress, this digital asset might be on the right way to achieving the $1 mark again, or more, before the end of this year.