The reply from Ripple to Litecoin’s launch of Litepay was not long in coming. According to rumors Ripple has signed an agreement with Google for the implementation of a new efficient payment system concerning Google Pay.
The formalization of the agreement has not yet been carried out but all the traders know perfectly well that cryptocurrencies feed mainly on rumors and rumors. Moreover, the consequences of the important agreement are easily understood. The XRP listing today could be influenced by rumors about an agreement between Ripple and Google Pay.
Last Friday Ripple recovered above 1 dollar, but then, during the weekend, slow down the pace and retrace. This morning, according to real-time data provided by CoinMarketCap, the XRP price is down 3.9%, falling below 0.8 US dollars. From the point of view of the trading strategy, buying Ripple today at this price could be advantageous in view of a possible re-start that would be supported by the news on the agreement with Google Pay. Obviously, however, this is just a hypothesis that would be destined to go down very quickly if the rumors about the partnership between Ripple and Google did not have any feedback.
The fall of Ripple today must also be included in the atmosphere of nervousness that is breathed among all cryptocurrencies. Bitcoin and more important altcoins are all in red with the sole exception of the Litecoin quotation which instead advances by 5.6%. The worst cryptocurrency today is Iota which shows a fall of more than 8 percentage points. The Iota quotation was instead highlighted at the end of last week. The movements among the various cryptocurrencies seem to suggest that a constant relocation of investments by traders is underway.
What is certain is that all the altcoins tend to move positively if the Bitcoin quote leads the way. In the last week, this happened with the price of Bitcoin, which rose above $ 10,000 and the other crypts that moved in cascade. If Bitcoin then opens the way, Ripple has the chance to cash in on that success that, in light of the high-tech profile of this altcoin, can be said to be well deserved. Lately, the negative view that has affected all cryptocurrencies has prevented Ripple from profiting from the important agreements it has signed with a whole series of banks and financial authorities. In this sense, consider, for example, the agreement with the Central Bank of Saudi Arabia but also all the agreements between Ripple and the banks.
In the context of an overall trading strategy, therefore, the ideal would first be to examine the general context, which translated means taking into consideration the trend in the listing of Bitcoin, and then studying the prospects of Ripple. Just the agreement with Google Pay could be the catalyst able to push up the XRP quote. As we are talking about payment systems, however, the trend of the Litecoin quotation should also be taken into consideration. On the contrary, it can also be added that with the launch of Litepay, Litecoin, currently the fifth cryptocurrency in the world by capitalization, is increasingly becoming an alternative to Ripple.