XRP sets a new 6-month high at $0.50
Whilst most of the crypto space had their eyes focused on Bitcoin's surge past $10,000, to $11,000, XRP investors would have been extremely happy with price action on Saturday afternoon. After a string of banking partnerships from Ripple, and arguably the strongest fundamentals of all coins, the XRP token visited the key $0.50 psychological level for the first time since mid-November 2018.
Many investors have been baffled to why XRP's price had been so stagnant for the past few months. Lots of speculation behind price possible price-suppression, and the impact of Ripple selling XRP directly to major institutions, not via exchanges have all been discussed in great depth. However, with Ripple's announcement of a "strategic partnership" with MoneyGram officially unveiled earlier this week, followed by Ripple CEO Brad Garlinghouse announcing a "record-breaking" week for new contract sign-ups following Facebook's Project Libra launch.
Even at $0.50, XRP would be considered by many as highly undervalued, due to xRapid now being fully rolled-out by Ripple across the globe. With current all-time highs around $3.50, the HODLers will be looking to see price clear the previous highs considering the great progress Ripple have made since then. All that is for certain for now, is that the $0.50 level sees some welcomed respite from the frustrating past few months within the $0.30-40 range.
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