In the last day, the price of XRP has increased by a very little 0.2% due to rumours that Ripple is getting ready for a potential US IPO.
Rumours of this kind started when onlookers saw a job ad for a Shareholder Communications Senior Manager on Ripple’s website. This position would suggest that the cryptocurrency company is indeed preparing for an upcoming initial public offering (IPO).
Although XRP has not changed much today—its current price of $0.489862 also represents a 0.5% increase in a week—this would be significant news for the cryptocurrency.
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However, considering how unjustifiably oversold the cryptocurrency has been lately, a significant rebound is probably not far off.
Ripple IPO Buzz and XRP Price: Could $100 Be Attainable?,Ripple IPO Buzz and XRP Price: Could $100 Be Attainable?
According to its indications, XRP is still in a bad position, but on the plus side, there’s a growing chance that a comeback will occur soon.
One is that more than a week ago, its 30-day exponential moving average (yellow) dropped below its 200-day average (blue), and the difference between the two presently indicates that it is likely to climb once again.
Stated differently, XRP should be more appealing to purchasers because to its reduced price, since they will probably acquire it sooner or later to benefit from its low cost.
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Not to mention that its support level (green) has been gradually increasing over the past few weeks, suggesting that it may have bottomed out and is now prepared to stage a comeback.
Naturally, a rebound of this kind requires a catalyst, and at the moment, the news of Ripple’s job posting linked to its IPO isn’t doing anything to influence the market for XRP.
Fresh Altcoins with Robust Foundations
Although XRP has some of the best fundamentals of any currency on the market, there are now a number of other potentially lucrative altcoins that are exhibiting great promise.
Bitcoin Minetrix (BTCMTX) is a tokenized cloud mining platform that has raised over $1.7 million during its presale in just a few weeks of operation.
For a new initiative that has been drawing investors due to its innovative premise, this is an astounding statistic.
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