Ripple News Update
Dear readers, I want to begin this Ripple news update with an apology.
Two of my articles mistakenly forecasted that XRP would reach $2.00 by the end of 2017. Those were typos.
Both articles should have said $1.00 for 2017, which is the forecast I’ve been making for months. I have, however, predicted that XRP will reach $2.00 in 2018.
We have corrected the typos and provided links to articles that contain our original predictions.
Moving on, we have some uplifting (and coincidental) news. Namely, that XRP finally crossed $1.00 in the early morning hours.
The currency rose 36.5% against the U.S. dollar, bringing the XRP to USD exchange rate to $1.06. Meanwhile, the XRP to Bitcoin rate climbed an even steeper slope, rising 43.13% to reach 0.00006367 BTC.
Ripple Price Chart:
At the start of the week, we cautioned investors not to read too deeply into the sudden dropoff in trading volumes. Yes, they briefly dropped below $1.0 billion, but that was a single data point. An outlier.
Since then, 24-hour trading volumes have remained consistently above $1.0 billion, including yesterday, when they fell to $1.01 billion.
At the time of writing, volumes recovered with gusto to approximately $2.61 billion.
Markets & Exchanges
Bithumb is still the most popular exchange for trading XRP, accounting for nearly one-quarter of all volume. It is also leading the charge on higher XRP prices. The average price reached $1.19 yesterday.
By contrast, one XRP coin costs $0.964220 on Bitfinex.
This discrepancy might be explained by the fact that Bithumb is a Korean exchange dealing in XRP/KRW pairs. It is an open secret that Korean traders are bullish on XRP.
After all, the average price on two other Korean exchanges, Coinone and Korbit, was $1.18.
We believe that Korean traders were ahead of the curve on XRP. And, to a lesser extent, so were we. With that in mind, we strongly affirm our $2.00 Ripple price prediction for 2018.