Ripple: With all the market noise around XRP (XRP) with regards to its future, it’s only natural to second guess it as an investment. However, when you look at the numbers, you quickly realize that big money is flowing into XRP. Smart investors are quietly buying XRP, and ignoring all the FUD that is being spread about it.
A perfect example of the increased flow of money into XRP is the recent announcement by Wirex about their XRP deposits. Through their twitter account, Wirex announced that within 12 hours of offering XRP, deposits surged to over $2 million. This is an indicator that people are strongly buying into XRP under current market conditions.
It’s a good sign that investors are increasingly looking beyond the SEC, and now believe that Ripple has a good future, in a world where digital currencies look set to become an everyday reality. If $2 million was deposited within 12 hours, and that was weeks ago, the figure at this point must be way higher, probably at over $1 billion. If Wirex can record such numbers, the numbers at platforms like SBI are definitely way much higher.
The Wirex numbers also seem to go well with a recent analysis by Bittsanalytics, showing that positive sentiment around XRP is on the rise amongst social media users. This too points to changing perceptions about XRP by crypto investors. People are now more positive about XRP (XRP) as a viable investment, in spite of its depressed prices. The social media numbers could be linked to the increased adoption of XRP as a base currency, since more people now have access to XRP, without having to go through bitcoin (BTC).
The XRP (XRP) charts also paint a picture of an increased uptake of Ripple by investors. Yesterday bitcoin (BTC) dropped below $7000, pushing most altcoins down by over 20%. But XRP (XRP) has continued to trade in a tight range at around $0.44, just like it has done for the last one month. It’s only yesterday that it dipped to $0.42 before quickly pushing back into the $0.44 – $0.45 range.
This indicates that there is strong buying momentum supporting the price of XRP (XRP) at current price levels. It also means that buyers in this market are large enough to sustain XRP (XRP) at this range even as everything else tanks. This element of stability, and an increased perception that XRP (XRP) has bottomed-out will continue to support its price, and draw in more buyers.
When you put all these issues together, it becomes clear that the price of XRP (XRP) may be quite, but there is lots of accumulation going on at the moment. All it will take is a little trigger from the external, and Ripple will skyrocket in value. That trigger will most likely come from the SEC. There announcement will create FOMO around XRP, and as the herd piles in, this crypto will easily retest $3 in the very short-term.