Ripple on a Hiring Spree while XRP Aiming for $0.60 But Analyst says Beat This or It’s Just Bear Retracement

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Bitcoin Eyeing $11800 After Intense Drop

As we saw earlier today, Bitcoin started by declining from $11349 to $11176, roughly 1.76%.
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As the bull market comes back, Ripple has gone on a hiring spree. San Francisco-based startup is hiring for a slew of positions to help them in their “grand ambition to transform global payments.”

For its investment arm, Xpring, Ripple is hiring for 10 new senior positions including Engineering Manager, Senior Director of Product Manager, VP of Developer Relations,  Product Marketing Senior Manager, Growth Associate among others for San Francisco location.

Xrping’s focus is on building tools and providing services and support to developers to make it easy to build on XRP Ledger and the Interledger Protocol.

Ripple CEO to Clear Community Issues

In other news, the financial regulator Bafin has been receiving a lot of interest from banks asking for permission to operate the crypto custody business in the future, reported German news outlet, Handelsblatt.

The new Money Laundering Act that came into force on Jan. 1, 2020, apart from traditional securities such as stocks and bonds, financial institutions can also offer customers cryptocurrencies like Bitcoin, Ethereum, and XRP.

Ripple might have some good information or announcements coming its way as well with Ripple CEO Brad Garlingouse to appear on CNN.

Active XRP community member Leonidas Hadjiloizou got the questions to recommend the show host that involves details about Ripple’s IPO that Galigosie hinted at within 12 months.

Apart from development on the XRP leveraging On-Demand Liquidity product, there’s still anticipation among the community members to know about Ripple’s plan about its escrow account that releases 1 billion XRP every month. The community also wants to know more about its much controversial but recently managed XRP sales.

XRP to do well But Bitcoin need to calm down first

On the price front, the third largest cryptocurrency by market cap of $11.8 billion is currently trading at $0.272, up nearly 42% so far in 2020.

Yesterday, we went as high as $0.285 and TraderSmokey, a popular trader feels more bullish performance for the digital asset.

“XRP USD Pair closed the weekly above 28 cents, that’s huge imo. I think XRPBTC could start performing better too now, simply because this is such a big level on the USD Pair,” said TraderSmokey.

According to trader Crypto Michaël as well, XRP is expected to do well but for that Bitcoin needs to calm down first.

“Broke a 2-year old downtrend on the BTC pair and flipped back in the range on the USD pair. Holding above $0.247-0.25 and we could see continuation towards the range high at $0.47 and possibly $0.60,” said the trader.

Analyst DonAlt, however, says all the risk is at the resistance area $0.25-$0.30. While doubling down on his stance, he explained, “$0.30 is the number to beat, until that happens all of this is a bear market retracement.”

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