Market Update and Ripple XRP Price Analysis: April 1, 2019

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The total crypto market cap increased by $2.4 billion since March 29 and now stands at $145.1. The top ten cryptocurrencies are all in green for the 24-hour period with EOS and Stellar (XLM) leading the group with 2.3 percent gains. At the time of writing bitcoin (BTC) is trading at $4,196, ether (ETH) at $144.5 and Ripple’s XRP moved up to $0.316.

Bitcoin successfully broke above the January 2019 high at $4,168 on March 29 and stopped at $4,178 on the Bitfinex daily chart.

Bulls pushed the BTC/USD price even higher on March 30 peaking at $4,208 or just $3 shy of the year high of $4,211. They were not able to hold position though and closed with a loss to $4,163. The most popular cryptocurrency was 3.2 percent up for the seven-day period and 8.1 for March.

After gaining 4.2 percent on March 29, the ether token registered two consecutive losing sessions during the weekend of March 30 to 31 and closed the week at $143.6 or 4.5 percent up for the period. The ETH/USD pair saw a 5.3 percent price increase for the last 30 days.

XRP/USD

The XRP/USD pair is still struggling to finds its direction, and after more than a month in the $0.325 to $0.305 zone, it is not able to establish a trend.

After climbing to $0.3147 on March 27, Ripple’s XRP token lost one percent of its value and dropped to $0.3112 on March 28. As expected, it found support at the $0.309 level and formed a new green candle to $0.313 on March 29. The popular altcoin was trading in the $0.309 to $0.315 range during the day.

The weekend of March 30 to 31 started with a second consecutive day of gains on Saturday, as XRP successfully climbed to $0.316 in a highly volatile trading session during which it peaked at $0.323.

On March 31 it made a slight movement downwards to $0.313, closing the week with no change compared to the previous one. XRP was one percent down for March.

The Japanese financial services company group SBI Holdings announced on March 28 that it had received support in the form of financial investment from 13 local banks for its banking application MoneyTap.

The service was created in collaboration with Ripple and uses its blockchain solution xCurrent to perform instant money transfers. The 13 financial institutions will now be added as shareholders in the project with the idea to speed up its development and allow their users to perform domestic bank to bank transfers.

MoneyTap was officially launched in October 2018.

Singapore-based cryptocurrency exchange Bitrue announced it had added four new XRP trading pairs. According to the announcement, users will now have the possibility to use XRP as a base when buying or selling ICON (ICX), Zilliqa (ZIL), IOST or Golem (GNT). The Ripple-friendly platform, which has around $666,825,888 of 30-day trading volume, now offers 35 XRP-based pairs.

XRP Price Movement Chart

XRP Price Movement Chart

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