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All social media platforms are in ferment with a possible breakout price of Ripple XRP by the end of the year and due to xRapid. One argument is that if XRP had gone to $ 3.82 at the start of the year based on a rumor that Coinbase would have listed, then with xRapid – which is a guarantee – the value of the digital asset could see higher levels than those seen in January [19659003] The XRP managed to maintain levels above 30 cents after being pushed into the markets on 18 September. During that day, the digital asset gained around 21% in a 5-hour time window. The digital asset rose from $ 0.274 to $ 0.33, further demonstrating to its loyal HODLer, that good times were ahead for the digital asset.
XRP Spike due to xRapid News. Source, Coinmarketcap.com
xRapid Factor
Further researching why XRP has increased in the markets, we find that on September 17th one of Ripple's executives mentioned xRapid to go live next month or so . This exec. It was Ripple's Head of Regulatory Relations for the Asia-Pacific and the Middle East at Ripple, Sagar Sarabhai and he said this:
"I am very confident that in the next month or so you will see some good news coming up where we launch the product live in production. "
xRapid is known to use XRP as an immediate source of liquidity when funds are sent across borders. What happens is that xRapid uses XRP as a temporary deposit of the transaction value until it reaches the receiving side, where it is immediately converted into the local currency. The genius of xRapid is that it reduces the transaction speed of cross-border payments from 2 to 3 days to 2 or 3 minutes. Banks, or remittance service providers, end up saving 40% – 70% of exchange costs.
When xRapid will be active in the next few months, XRP is 90% guaranteed to burst on the markets . The reason we do not give 100% of this guarantee is that we are currently in a bear market and any FUD, like the false news on Goldman Sachs a few weeks ago, can ruin XRP's run upwards.
3 Major Exchanges to Facilitate xRapid
Just a few weeks ago, Ripple announced that it has partnered with the three bursaries of Bittrex, Bitso and Coins.ph to promote their xRapid operations. The three grants operate in the United States, Mexico and the Philippines respectively and will be used by remittance service providers to purchase XRP directly from the cryptocurrency markets.
This means that when remittances start to be sent using xRapid, XRP's trading volume will certainly increase in the markets and will bring much needed attention to the digital heritage. The only way is for the digital asset from now on.
Ripple XRP mega breakout
A prediction that has appeared continuously on Twitter, is that of $ 589 for XRP by the end of the year . This value was predicted by a mysterious Reddit member known as Bearableguy123 in February. Since then all his posts on the platform have disappeared and so has his Twitter account. But this number has stuck in the XRP community with a good percentage that believed in this prediction
What do you think of the price forecast of $ 589 by the end of the year? Is it possible for XRP? Please tell us what you think in the comments section below.
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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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