In the last weeks, the cryptocurrency market has been developing an upward trend, fueling the hopes of those who have always believed that the best days for the crypto industry are yet to come. After a months-long decline, observed from the end of December 2017, the current dynamics of crypto currency is, for the first time, to confirm the change in trend movement.
As always, bitcoin acted as the locomotive of recovery. On 6 April, BTC/USD pair was at the level of $ 6424. Today, at the very end of the month, bitcoin has increased by almost 50%, seriously aiming at testing the resistance of $ 10,000. Similar trends are being developed by the altcoins. Analysts of AMarkets note that every percentage that can take bitcoin there, immediately stimulates the flow of new investments. The more capital comes to the market, the more fuel for further growth. Most investors have the absolute belief that bitcoin will reach $20,000.
However, the potential growth of the asset by 100% for many is already inadequate. It can all be blamed on the hundred-fold increase in the capitalization of digital currencies. Traders are used to a fabulous profitability and today they want to receive no less. That's why not all the funds that go into the crypto market are in bitcoin. A large part of them are distributed among other altcoins. A perfect example is ripple, which in less than a month managed to double its own rate, yielding twice as much revenue as bitcoin.
The rate of ripple in less than a month had grown from $ 0.44 to $ 0.95, only slightly short of rounding off to $1. According to AMarkets’ experts, at the very moment when a serious barrier of $ 0.80 ripple broke a few days ago, it was possible to break the bearish trend. Intercept the initiative, and the sellers would still not have reached $0.87, another important resistance. Traders believe that even if ripple encounters a sudden deterioration in market sentiment that forces a downward adjustment, is unlikely to be significantly below the strong support of $.80. The upward turn has already happened, as evidenced by many technical indicators indicating a high probability of further growth. According to the most conservative forecasts, the value of the coin will exceed $1 by the end of the first half of 2018, with the possibility of growth to the previous high of $3.3 by the end of 2018.
Today, platform developers continue to work actively to increase the liquidity of altcoin, new partnerships in the banking sector are constantly being concluded. The launch of the Banco Santander (MC:SAN) international money transfer system, based on the Ripple blockchain, held a few days ago, clearly demonstrates the commercial viability of the project. The service, called Santander One Pay FX, facilitates currency exchange for retail customers in four countries - Spain, the UK, Brazil and Poland. The simultaneous launch of platforms for several countries is the first of its kind. On 15 May, in New York, Ripple will host a VIP party "XRP Community Night", at which the famous rapper Snoop Dogg will perform. Representatives of Ripple noted that investors are waiting for good news, which will necessarily affect the rate. Given the above, it is recommended to open long positions in advance.