XRP Facing Bear vs Bull Showdown; Who Will Win

The digital currency ecosystem is slipping back to a bearish trend as the combined crypto market capitalization has lost its earlier gains and is now pegged at $1.05 trillion. XRP is on the frontline of altcoins being impacted as earlier moves in the market have been pared off with the current slide in prices.

The Balance in XRP Price Swing

At the time of writing, XRP is changing hands at a price of $0.5129, down by 4.15% over the past 24 hours. XRP bulls were earlier active as the coin shot up as high as 4% in earlier trading after shedding off all of its gains.

Despite the obvious price slump, the digital currencies’ trading volume showcases a difference in actions between the bulls and bears. The coin’s trading volume has retained an upsurge of 3.2% in the past 24 hours with the volume pegged at $1.418 billion.

While the outlook appears bearish at this time, it remains to be seen who will win the fight for dominance between the buyers and sellers. As a volatile market, the current trend appears to be favorable for bears and whether or not the current trend will matter is dependent on general market sentiment.

XRP remains an attractive coin, despite the fact that a slight uncertainty is hovering around its future per the ongoing lawsuit between the United States Securities and Exchange Commission (SEC) and its associated blockchain payments firm, Ripple Labs Inc. 

With the regulator filing an Appeal against the ruling from Judge Analisa Torres per the declaration of XRP as a non-security when traded on exchanges, bulls are holding their breadth to know how the dispute will pan out in the near future.

The XRP Delight

Industry experts have projected XRP as a coin that is sitting on turbo engines and is ready to soar in the long term. With the current XRP ruling being the de facto law for the time being, the coin can keep trading on exchanges in the US that have relisted the coin in the past few weeks.

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.