Cryptocurrency enthusiasts many a times fight on which coin has more use cases than another. However, it seems there is an answer to that from an “unbiased, trusted ratings of cryptocurrencies”, the Weiss Ratings.
On Friday, Weiss Ratings declared in support of Ripple’s XRP despite the condemnation the cryptocurrency has been receiving in recent time.
In a clear statement by Weiss Ratings, which is dedicated to attacking those who stand against XRP, Weiss said they are seeing series of hostilities against the cryptocurrency, however, Weiss said it’s wondering why, since Ripple has a clear use in the crypto world when compared to other cryptocurrencies without use cases but with shady motives.
The rating platform went ahead, praising XRP for trying its best to get rid of middlemen involved in interbank transactions.
It is not clear if Weiss Rating is saying Ripple’s XRP is the only coin with clear use since other cryptocurrency supporters claim their cryptos also have more than enough use cases.
Meanwhile, this is not the first time Weiss Rating is campaigning for XRP, the Rating has been doing in the past.
Ripple (XRP) Day Price Analysis
Ripple price on Saturday escaped its predominant downtrend, appreciating with a value close to 2.2 percent against Dollar.
The trade pair XRP/USD began the day taking another direction from yesterday downtrend, breaking above the resistance level, which would have resulted to a bear pennant if the trend had been maintained.
Even though there was change in the direction of the trend, the price of the pair began to fluctuate and became unstable in the market. After breaking from the downtrend to reach a value close to $0.278 at the start of the day, XRP/USD value went down drastically to $0.276, and the pair later picked up again during the Asian trade session to reach $0.280.
XRP/USD was unable to maintain a stable price against the psychological resistance level near $0.278-fiat.
As the upward and downward trend continue, XRP/USD, at the end of the Tokyo trading session, tried to maintain a stable upturn trend, reaching for $0.2835 at the European trading session before its finally went down again to $0.278.
Still at the European trading session, XRP/USD trade pair picked up again, rising to the top to reach for a value close to $0.2830. The space between the upper and lower trendlines seems a bit significant –about 0.280-0.276 and could result to decent entry/exit positions to watch out.
At the moment, XRP/USD trade pair is valued close to $0.2830 and it has broken out of the resistance level. Although it is surging but moving up stylishly and could reach $0.295 if the trend is maintained.