XRP Price Prediction: Bulls Attempt Big Breakout In Market Rally – XRP Could Soon Hit $0.33
The crypto market looks green today, with the most important coins still going up. As Bitcoin rallied towards $9,000 yesterday, the other coins followed suit and raced in the market.
Despite the huge volatility of the crypto market, there have been all kinds of bullish predictions popping up in the crypto space these days.
XRP bulls attempt a big breakout
FXStreet reveals that the bulls are testing the upper acting resistance of a triangular structure and setting up for a potential breakout.
The coin seems to be moving in sync with the market. At the moment of writing this article, XRP is trading in the green and the coin is priced above $0.23.
The bulls’ ability to support XRP above $0.23 in the near-term is suggesting the fact that the crypto is more bullish than previously believed to be. On the other hand, some experts claim that the coin could rally as high as $0.33.
Ripple’s Brad Garlinghouse expects an industry consolidation
Visa has recently announced the acquisition of payment startup Plaid for $5.3 bln.
Commenting on the news, Ripple CEO Brad Garlinghouse stated that the industry was on the verge of a massive consolidation trend that would gain pace in 2020.
“Not surprising to see this kind of consolidation, and expect this will set the stage for more to come in 2020 – in fintech, crypto, and beyond.”
It’s been revealed by the online publication mentioned above that Ripple enthusiasts and XRP army of fans took his words as a hint of new acquisitions planned by the San Francisco-based blockchain startup.
This is not even the first time when Ripple CEO speaks about the need for consolidation.
He mentioned that the industry would focus on quality in 2020 because the world doesn’t need 3,000 coins.
He also said that prices are not that important, and more essential elements should be analyzed in the crypto space such as developments, use cases, and adoption.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.