Ripple rallies on optimism the cryptocurrency finds a home

Irving Hamilton
September 24, 2018

As CryptoGlobe reported, the XRP token, which is issued by the Ripple company, surged 40% on September 21st, however, Twitter users warned investors that there may be "huge dump" that could follow the token's dramatic price increase. At any time, anybody can review the ledger and see a record of all activity on the Ripple protocol. It minimizes liquidity costs and makes cross-border payment transactions faster. Sarbhai also added that the firm was making steady progress with xRapid, which is meant to help banks speed up transactions by using XRP.

Since last two days we have seen a surge in the Ripple XRP token, now it has surged to nearly 50%. This may indicate another attempt at breaking $0.35 is on the horizon over the coming week. Nevertheless, it positioned XRP's largest holder, Ripple Labs, as a company with a big future ahead - something that could have excited the traders speculating on XRP. On the 15-minute chart, price of XRP is well supported by an ascending trendline, helping it stay up. It rallied to $0.76 by Friday, up 192% from a fall of $0.26 at the opening of the week. Considering overall predictions in world, Ripple will keep upward trend in graphical aspect.

For payments, which again we think are the killer app, we think that's where it all starts. This led to the displacement of Ethereum from the second largest cryptocurrency to the third largest. XRP has a total market capitalization of $12.99 billion and approximately $481.42 million worth of XRP was traded on exchanges in the last 24 hours.

Eyes can see the percentage of 244% between 2016-2017, if it keeps firmly growth it may exceed 0.78 United States dollars until the end of 2018.

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Sarghai thinks that regulations helped the way the crypto market improved.

Ripple (XRP) continues to trade positively on the recently launched RippleNet, a decentralized global network of financial institutions that is now active in over 40 countries.

XRP (XRP/USD) is trading above its year price averages. It will be great challenge for other currencies like Litecoin and Dash. This doesn't really come as a surprise for many considering the sentiment change Ripple Inc. has achieved over the past couple of weeks. First quarter of year will be very strained therefore currencies would incident ups and lows. At the end of 2020, Ripple would be about $1.40-1.50. The team behind Ripple has also announced that RippleNet has been going through rapid expansion throughout 40 countries, making worldwide payments faster and more transparent.

The decentralized system of RippleNet is based on the agreement made between the Ripple executives and other network participants, who deploy the same blockchain system, besides adhering to the standard set of payment regulations. You can easily convert XRP to BTC from CoinSwitch at best rates.

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