XRP has been pumping along with the other coins in the crypto market. Today, the market looks pretty bloody with all the important coins trading in the red.
This comes after a really exciting rally that took place during the past week and boosted the price of Bitcoin above $9,100.
The crypto market rallied a few days ago, and now things seem to be cooling down a bit.
XRP in the crypto market
uToday brings up the crypto trader Galaxy, who shares his impressions of recent XRP behavior, saying that the coin is showing some signs of strength.
In order to start heading for its first target in the chain of price rises, it will need yo break the psychological level of $0.25
Here’s the analyst’s tweet below:
$XRP showing signs of strength.
Break $0.25 and it's showtime.
$0.3 as a first target.
I am long. pic.twitter.com/MBOBJl0NbY
— Galaxy (@galaxyBTC) January 17, 2020
Some Twitter users said that his predictions are too conservative, but others claimed that they are actually too bold and XRP is just like any other cryptos.
The online publication also mentions the fact that twitter user Joker posted a monthly XRP chart and said that the coin is forming a bullish flag.
@Ripple still standing strong.
Technically speaking, #XRP monthly chart is forming a bullish flag. If it breaks out, $xrp new ATH incoming.
Estimated TP: $5.73
P.s: Bullish patterns may fail. In this case, it breaks down. Estimated TP: $0.005
#XRPcommunity #XRPUSD pic.twitter.com/e9iQ8AJNS8— JOKER (@KiaCrypto) January 17, 2020
An extended prediction of Joker’s for XRP is $0.49.
#XRPUSD Estimated TP: $0.33 – can be Extended to $0.49.
Did you sell the bottom and $xrp pumped right after? Are you buying the top and the market crashes?
how do you trade? Are you bullish or you're expecting a new low? I shared mine! what's yours? #XRPcommunity https://t.co/OdEmKDmWXI— JOKER (@KiaCrypto) January 17, 2020
Use XRP on Amazon soon
In other XRP-related news, earlier today, we reported that It’s been just revealed that the crypto payments service BitPay launched new support for XRP.
BitPay co-founder Tony Gallippi confirmed that users would soon be able to buy first cards with XRP starting this week.
People will be able to spend their crypto at a long list of important retailers, including Amazon, Burger King, DoorDash, Domino’s, and more important retailers.
BitPay director of product, Sean Rolland, says the speed and scalability of XRP set it apart from most crypto assets on the market.
“BitPay customers are leveraging the promise of blockchain payment technology and with XRP can offer a payment option that is fast, cost-effective, and scalable,” he said.