Bulls Regain Momentum after BitMEX Crash
XRP regained its footing, standing at $0.32, keeping most of the gains from the past day. The price was surprisingly not hurt by the event where XRP fell to $0.14 based on low liquidity on BitMEX. But this one-off trading event did not divert the asset from its bullish trajectory.
The trading volumes for XRP, however, are slightly slowing down from their peak, at below $6 billion in 24 hours. Ripple’s asset, however, managed to keep most of its weekly gains, boosted by never-ending optimism. Even the move to $0.32 is just a small part of the expected breakout.
#xrp next stop 40¢ pic.twitter.com/j1is9RAWCg
— rü$╫ (@MyroneBagalay) February 13, 2020
XRP has commanded higher prices in the past, and the chief hope of speculators is that a renewed altcoin season can finally lead to a breakout beyond the usual range. The Ripple community is also quite loyal, expecting to see widespread adoption of the RippleNet protocol in the near future.
But in the short term, XRP supporters remain extremely bullish, viewing the asset as worth buying even at current prices. The FOMO buying is even visualized on the Fiatleak tool:
#FOMO #XRP This is serious Fomo kicking in now , can anyone smell the new fresh cash flowing into crypto. Those newbies eye are wider then a Mack truck. pic.twitter.com/HQwnxLQm2y
— Papa Bear [XRP]