Ripple Targets The EUR/USD Payment Corridor: Analysis

The XRP price boom has been a major topic in the Ripple news and as we can see now, bulls are trying to keep the coin above $0.19 to prevent a new all-time low. While Bitcoin (BTC) is currently showing weaknesses and managed to fall from $7,500 to $6,900, we can see that the XRP price is remaining relatively stable as the XRP/BTC pair is stabilizing. However, this is not the only price of XRP that is remaining reasonably stable against the most dominant coin. For instance, we can also see the Stellar Lumens (XLM) altcoin showing significant strength. The big question is – would this imply that an inverse correlation is back? As we discussed before, the red area was a vital level for XRP to reclaim and sustain any bullish momentum. The price of the coin was not allowed to drop below the monthly level of 0.00002360 satoshis, which was held as support back then. However, the XRP price boom that happened after the drops on March 12 and 13 shows that Ripple has stabilized and added some momentum on the chart. The next crucial step would be a successful support test of the red zone. If a test like this confirms the support level here, any further upwards momentum is likely to occur. All in all, as the cryptonews are showing a similar structure, the XRP price boom will be on its way. For now, Ripple’s token is stuck in a sideways range as the price has been hovering around $0.19 for a couple of days now. What is also remarkable is the fact that XRP against BTC is on the same level as it was one month ago – which was just before the big crash of Bitcoin occurred. Given that the price of the coin is stabilizing and not being affected by the movements of Bitcoin shows strength as wel las a possible bottom formation for XRP. We can also notice that older investors are turning back to the good old days for XRP, when the coin had an inverse correlation with BTC and at one time even hit $3. A XRP price boom like this is not expected soon, but Ripple could be back with an inverse correlation and continue its retracement – firstly, to secure the $1 mark which is the most optimistic outlook now.

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