Compared to last year’s data, in 2020 XRP has started much stronger and, at the moment, the price of XRP has been consistently above 0.20 USD. The crypto asset was doing pretty bad last year, yet, considering this, in the new decade XRP began an uphill climb. Right now, Ripple’s digital asset is trading at 0.2077 USD after trading at 0.21 USD for a long time and shortly going down to 0.19 USD. Although long-term prospects of this crypto coin are not known yet, there are many reasons to believe that XRP will stay above 0.20 USD in the short-term.
The first reason why the price of the Ripple asset will not fall is that yet again a large bank entered a partnership with Ripple. The Thai Siam Commercial bank that mainly offers fintech solutions in Asia is planning to create a new application and payment solution collaborating with Ripple. As of this moment, Ripple is a crypto company with the biggest support from the global financial system and is simultaneously the company behind the third largest crypto asset based on market capitalization. The new application with the Siam Commercial bank will also enhance the popularity of Ripple and, thus, positively affect the digital currency’s price.
It is also speculated that the newfound stability of XRP price will result in an accumulation period. Currently, traders are not interested in increasing the value or in futures markets of this crypto asset. Hence, right now there is no large incentive for the XRP value to grow. The market of crypto assets remains as unstable as always and the biggest crypto coin, Bitcoin, is also showing major signs of unstableness, so the altcoin market is following its footsteps.
At the same time, as the Bitcoin halving is approaching, XRP price will most likely rise once again. To gain more information about Ripple & XRP price, take a look at Ripple Price updates and Ripple (XRP) Price Predictions.