Ripple and Coinbase relationship rumor will likely boost the price of the XRP token because of FOMO that is hovering around the traders’ community. Let’s find out more about it in the latest cryptocurrency news reports.
The altcoins are in the green today but Bitcoin is nowhere to be seen. Many of the major altcoins are making some huge gains and Ethereum is still going strong but XRP and XLM are the top performers of the day. Ripple’s token has been down by most of this year and has been one of the worst-performing assets for 2019. The altcoin has been lulling around the yearly low for most of the month and the movements by the San Francisco based fintech company have angered the community because the fear of mass liquidation intensified.
XRP has jumped to a yearly low of more than $0.2 since the summer rally. Over the past few hours, the cross border payments token saw one of its largest moves this year with a pump of more than 20 percent to top out over $0.31. The daily volume has surged from $850 million to almost $2.5 billion and this one is leading at the moment. Forbes attributed the movement to the proposed hard fork from the community and now it seems that what is driving up the rumors is the Ripple and Coinbase relationship though nothing official has been announced:
“Breanne Madigan drops some crumbs at minute 9:37; it seems like Coinbase is an xRapid exchange and it’s currently originating MoneyGram flows into Mexico.”
Getting a good dose of FOMO today is Stellar Lumens which has moved in tandem with XRP. The payments token has been fiat for most of the year but increased today with a 14 percent movement to reach $0.066. ETH is building on the weekly momentum as it pushes above the $200 barrier to top out at $215 just a few hours ago. Ethereum has made more than 18 percent since the weekend and it is currently trading at around $212. There is a lot of fundamental factors for the second-largest crypto-asset which has been very weak for a while now. The next major resistance target for Ethereum is $230 and it seems like the cryptocurrency will get that level as per the altcoin news reports.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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