Could 2021 prove bullish for XRP?

Quick take

1 minute read

• Many people believe that the token on the San Francisco-based blockchain initiative is about to end its bearish streak. 
• 2021 could prove to be exciting for the token as according to a recent press indicator traction is being gained amongst investors that could see a positive performance of the token next year.

XRP has had a slow year. But many people believe that the token on the San Francisco-based blockchain initiative is about to end its bearish streak. 2021 could prove to be exciting for the token as according to a recent indicator, traction is being gained amongst investors that could see a positive performance of the token next year.

Heading to Twitter, the financial analyst at Cane Island Alternative Advisors, Timothy Peterson wrote the following on the 7th of November earlier this month.

Although Lowest Price Forward is strictly a price trend, I validated this trend with fundamental metrics from @coinmetrics

— Timothy Peterson (@nsquaredcrypto) November 7, 2020

Over the course of 2020, the token has been stagnating in its price value. Despite the price hike that bitcoin took following the United States presidential election, the San Francisco-based token seems to have been stuck below $0.30.

However, despite the slow price action movement, ripple has been making numerous collaborations over the past year. This includes companies such as MoneyGram who are helping grow the token and its ecosystem.

Whereas many alternative consequences have been seen numerous gains of the course of 2020, investors in the ripple token more than likely have been stuck in a rut this year.

That being said, could 2021 prove to be exciting for the coin?

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