Why XRP demonstrates worst dynamics in the TOP10

April 26, 2019   XRP

Cryptocurrencies continued a slight decline on Thursday. The price of Bitcoin fell to the level of $ 5,400, Ethereum dropped to the mark of $ 158, XRP reached the level of 0.2950. XRP showed a very negative start to 2019. While Bitcoin triumphantly returned to bull territory, XRP has fallen by 16%. The third largest cryptocurrency currently demonstrates the worst dynamics in the TOP-10.

Ripple's problems were exacerbated when, during yesterday's trading session, the cost of the XRP fell another 7%, plunging below the key $ 0.30. XRP is currently significantly inferior to Bitcoin and the entire cryptocurrency market as a whole.

The company Ripple published a financial report for the first quarter of 2019, which refers to the growth in sales of XRP tokens by 31% compared with the previous quarter. In total, the company sold tokens for 169 million dollars. Of these, 62 million tokens were acquired by institutional clients. The XRP price in the first quarter of 2019 showed the lowest volatility since the end of 2013. Cryptorinok initiated a powerful recovery in the first months of 2019. Bitcoin grew by 43% this year, outperforming the stock market, as well as any particular share in the Dow Jones Industrial Average. Other cryptocurrencies have proved even better. The same Litecoin jumped 135% since January, while EOS grew 82%. The real success story of 2019 was the growth of Binance Coin (BNB) by 283%.

However, XRP was unable to join this company. At $ 0.29, the XRP is 92% below the historical high of $ 3.84. The weak performance of the token is probably related to the development of the situation around Ripple. The company aims to provide international transfers for large banks and payment providers. However, despite the fact that Ripple teased investors with hundreds of partnerships with banks, only a very small number of them end up actively using XRP.

As to other news, the platform Binance DEX announced the launch Mithril token trading paired with Binance Coin token. This will be the first trading asset in the platform listing. Meanwhile, the stock exchange presented the new listing rules for tradeable assets. Anyone can release a token on the Binance Chain, but adding it to the marketplace is to be fulfilled in several stages. Firstly, the token issuer has to place a listing application on the Binance Chain community forum and provide answers to questions regarding the innovativeness of the project, its scope and other characteristics. After that, the issuer must make a deposit of 1000 BNB within two days, which will later be returned. An asset listing on a Binance DEX must be approved by at least half of the validators. Earlier, Binance announced the possibility of buying cryptocurrencies using credit cards. In addition, the launch of the crypto-fiatnoy exchange Binance Singapore. So far, only one trading pair is available to users of the site - BTC / SGD, however, later tokens may appear in the listing.

In our forecast for today, we assume a further decrease in Bitcoin to the levels of 5350, 5300 and 5250 dollars, Ethereum to 156, 154 and 152 dollars, and XRP to the support of 0.2920, 0.2900 and 0.2850 dollars.


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