In the last few hours, XRP (XRP) has broken out bullish after trading in a range for the last 24 hours. This breakout has seen XRP push higher than any of the other top 10 coins in the last few hours. This has coincided with the ripple ridder’s prediction that something big will happen on this date. While it’s not a huge pump, it leads to the question, could this be the beginning of an XRP bull rally, one that could push up XRP all the way into 2019 and beyond? Well, there is a high probability that this could be the case. Several factors support this possibility.
The first one is the likelihood that at least one bank will go live with XRapid in 2018. Sometime back, Brad Garlinghouse stated that at least one bank would go live with XRapid in 2018. For a person of his standing to make such a statement, it’s because he has some information about some of the banks that are involved with ripplenet. Brad’s confidence in banks adopting XRapid was restated during money 20/20 where he stated that he expects at least a dozen banks to start using XRapid in 2019. If at least one bank goes live with XRapid before the end of the year, then it could lead to a big pump before the end of the year.
The market is already expecting this to happen, so the current price jump could easily mark the beginning of a bull run that extends all the way into 2019. The big deal about even one bank going live with XRapid is that it will open the way for other banks to do the same. That’s because banks are already showing an interest in DLT as was seen in the theme of the SIBOS conference 2018. On top of that, the cost savings that the bank that will go live with XRapid will get will trigger other banks to follow suit. The domino effect it will create in the adoption of XRapid could see the value of this crypto rise significantly, and fast before the end of the year.
Even from a technical analysis perspective, there is a reason to believe that XRP (XRP) could be turning bullish. A quick glance at the weekly chart, which is data for the whole year, shows that XRP (XRP) could be at the very beginning of a bull run. That’s because, after a whole year’s drop that saw XRP (XRP) hit a low of $0.24, it has stabilized, and has established long-term support at $0.43. It has been ranging around this price for the last 2 months.
This is a pointer to the fact that bulls are consolidating their positions. As such, if something big happens, like a bank going live with XRapid, it could trigger retail investors to FOMO back into XRP (XRP) and lead to a bullish breakout. This when combined with the developments that ripple has made this year, this could easily push it to at least $10 this year. It’s without a doubt one of the best coins to hold going into the foreseeable future.