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XRP Winning Dollar Battle But Losing to Bitcoin
The cryptocurrency market is notoriously unpredictable, and this week has been no exception. While some altcoins have struggled to gain traction, others have seen significant gains. In a shocking turn of events, Ripple’s native token XRP has emerged victorious in its battle against the US dollar. However, as the price action would suggest, it seems that XRP is losing ground to Bitcoin.
Despite the USD’s strength, XRP managed to break through the resistance at $0.40 and now sits comfortably above this level. This is a significant achievement for the token, which has been stuck in a prolonged downtrend over the past few months. The sudden surge in value could be attributed to the growing adoption of Ripple’s cross-border payment solution, xRapid.
On the other hand, Bitcoin continues its relentless march upwards. At press time, the king of cryptocurrencies is trading above $63,000. While this level may not seem impressive for some enthusiasts, it’s essential to remember that BTC has been steadily rising over the past few months. This could be a sign that institutional investors are slowly but surely taking notice and pouring capital into the market.
The situation with XRP is less clear-cut. The token’s recent gains might have been sparked by the anticipation of a potential US ETF listing, which would provide much-needed liquidity to the market. However, any real progress on this front has yet to be confirmed, leaving investors in limbo.
In conclusion, while it’s good to see XRP regaining some ground against the USD, the picture becomes far more ominous when considering its performance against Bitcoin.
Source: https://u.today/xrp-winning-dollar-battle-but-losing-to-bitcoin
