XRP Is The Worst Performing Asset Of 2019, BNB Shines

XRP is the worst performing asset in the first half of 2019 especially for the Binance Coin which made huge gains. In the coming altcoin news below we take a closer look at the price analysis.

The first half of 2019 brought a good period for cryptos in general and especially for Binance Coin. XRP however, didn’t manage to do as well. The third largest cryptocurrency by market cap closed at $0.396411 on June 30 which represents 12.45 percent gains on the opening price of $0.352 which was seen on January 1^st according to the data source on CoinMarketCap. While it is not terrible by any normal standards, the double-digit gain in price in comparison to binance coin’s massive 424 percent rise.

The seventh-largest cryptocurrency, by market cap, Binance Coin is the exchange’s native token which is used for various purposes including to pay the trading fees on Binance’s platform. The price increased from $6.19 on January 1^st and then closed at $32.44 on June 30 just to become the best performing top 10-cryptocurrency for 2019. The Binance Coin is currently trading at $33.50 which means that it reached the record high of $39.52 on June 22. Apart from the role in growing trading activity on the trading platform, BNB likely made gains because of the token sale platform Binance Launchpad which required the participants to purchase the exchange’s coin. In the meantime, the other top 10 cryptocurrencies without tether on the list, also outperformed XRP by bounds in the first six months.

Litecoin also rallied about 301 percent in the first six months so XRP is the worst performing asset seemingly. During the miners’ rewarding halving in August, Litecoin rallied but Bitcoin as the number one cryptocurrency jumped by 188 percent and it looks as if the cryptocurrency will rise even further ahead of its halving which is scheduled for May 2020. Furthermore, the narrative is becoming more shifted towards Facebook’s cryptocurrency and its fiat-backed Libra crypto project.

As noted in some of the best cryptocurrency news sites, the $7,000 rise in Bitcoin was good news for most of the cryptocurrencies but it did absolutely nothing for XRP. Its dull performance is now even more confounding if you take a closer look at the bullish technical developments on the XRP’s chart. XRP’s 50-day moving average crossed above the 200-day moving average at the end of May. Buyers, however, failed to keep the prices above the $0.47. The situation looked promising after XRP breached the contracting triangle pattern but the breakout was short-lived.