XRP Price: Soaring By 16%, Ripple Bulls Looking Unstoppable. Tuesday, November 6th
Ripple Is Soaring By 16%, Bulls Looking Unstoppable
For a second day this week, the bulls are in control of the market. After starting the week strong, the positive trend is continuing. Today- November 06, the momentum looks even stronger than yesterday. Pushing the market forward and hitting new highs is Ripple. In the last couple of hours, Ripple has been out-performing a majority of coins in the market, recording a price growth in the highs of 16%. This has seen its price climb from little over $0.46 to what is now $0.541214.
This price leap has been contributed to a number of positive news around the project. For starters, the project’s xRapid has been adopted by several major banks in recent months.
In addition to adoption, the project is expanding its operation. Last week the project announced they were expanding to Dubai with offices set to be opened before the end of the year.
XRP/USD Price Chart, Tuesday November 6th:
Following this recent surge, Ripple is back on the heels of Ethereum. Ripple has previously dethroned Ethereum of the prestigious second position in ranking and if the positive momentum continues, it could do it again. This is especially because Ethereum even though is in the green zone is only up by 1.55%. Ripple has a market cap of $21,759,802,087 and Ethereum stands at $21,833,090,752.
The bulls are looking unstoppable and in the coming hours will continue pushing prices higher. They will do so to ensure that when there is a price correction- there always is, prices will still be high. The coin’s three month high currently stands at $0.59, and the bulls have their eyes set on this. A retest of this position is crucial and a break of the position would send prices to the sky.
In a recent report by Weiss Ratings, the rating company rated Ripple as a B- which is an equivalent of a “Buy”. Ripple was one of just four coins out of 3000 coins which scored B- and above. The others were Cardano ADA, Stellar XLM and EOS. According to the rating company, these are the only four coins one should buy right now.
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