The crypto-markets are experiencing a lateral movement at the time of writing this. The total capitalization of the crypto-market is stagnant at levels above $ 250 billion and currently at $ 252 billion. The King of Crypto is going through a difficult period maintaining levels above $ 7,000 and currently trading at $ 6.996 and falling 1.14% in 24 hours. As for our preferred remittance currency of XRP, it has fallen by 1.8% in the last 24 hours and is currently trading at $ 0.42.
Looking at when BTC drops, the XRP decreases by a similar amount (1.14% and 1.8% respectively), it can be concluded that XRP is related to the hip with BTC when it comes to market stability. In fact, the Ripple team highlighted this fact in their second quarterly report of 2018. They stated the following:
"The XRP was significantly less volatile in Q2 and the 9% drop in the XRP was in line with 8.2% bitcoin decline. "
This means that once BTC is snorting and snorting in the markets during its long-awaited Bull run, XRP will not be left behind either. The speculation is high that the ETCO Bitcoin CBOE that is outstanding at the SEC will be approved this year. Some believed it would be postponed for another year or so, but the recent development of the New York Stock Exchange (NYSE) owner who launched a Bitcoin market has reignited the hopes for an 'ETF approval' by August Bitcoin.
focus on the country of Japan, the company SBI Holdings through its platform VCTRADE aims to become the number one cryptocurrency exchange in terms of volume of exchanges and superior customer experience. VCTRADE is very compatible with XRP. The future plans of the company SBI Holdings can be seen in their recent financial reports that highlight the following plans:
- Acquire new customers and retain them through the provision of higher quality customer services at a lower cost than their competitors
- Provide tighter spreads and high-level security for VCTRADE customers / customers
- Implement a future service expansion policy that could include unattended trading of BTC, BCH and XRP on VCTRADE
- Provide filing and withdrawal services superior quality  Support of Ethereum (ETH) on the platform
- Increase the assets of funds encrypted with the CoVenture Holding Company: an asset management company based in the United States and co-founded by SBI
- Start offering derivatives Financial cryptocurrency through the Clear Markets Firm in the United States. SBI has a 12% stake and aims to acquire up to 20%. The Clear Markets Firm provides an electronic trading service for over the counter derivatives in the United States, the United Kingdom and Japan
There is also news of Coinbase that is finally warming up with XRP through its Custody service. This service stores digital resources for institutional investors and for high-net individuals. Coinbase has not confirmed that it will support XRP in its archiving service, but has announced that it was considering it.
In conclusion, the future looks really bright for our preferred XRP remittance currency in terms of market performance and investment products through SBI Holdings. This means that the current price could be as low as possible in the near future. Yes, it's a bearish market, but the future looks too good to not buy or HODL some XRP.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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