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While the whole market is quiet, XRP is riding the wave at the moment, once again, and things are starting to look good for Ripple. XRP was traded just above the price range of $ 0.20 at the start of this month, but rose to almost $ 0.80. Following the series of announcements related to the launch of xRapid's confirmation, XRP has increased by 7.16% in the last 24 hours.
It is also important to know that there have been a series of excursions that have led to an increase in Ripple's capitalization, thus exceeding Ethereum for a couple of times this month. We should remember that the price of XRP had been staggering at the beginning of September before being at a price correction of $ 0.57.
The XRP also saw some waves in the first two weeks of this month, but still had the same momentum ($ 0.57) until the end of last week. Tuesday this week, the cryptocurrency further lowered to $ 0.44 (25 Septemberth) and rose to $ 0.54 on the same day, behind Ripple announcements.
xRapid, good news for Ripple's XRP
The status of XRP has increased as a result of the news and the clamor around the launch of xRapid. It is also necessary to know that other factors have increased the price of the XRP peak: recent partnerships and the long-term success of Ripple.
Furthermore, the effective date of the xRapid launch has not yet been released, but there is a high probability that an official date of the beginning will be revealed very soon – probably before the end of next month.
xRapid, which is one of Ripple's products, will help increase the financial liquidity of cross-border payments. XRapid is also expected to help make payments at borders easier, cheaper and faster.
However, Ripple's head of regulatory relations stated in an interview with CNBC that xRapid will be launched in a month. Since its announcement on CNBC, it has created FOMO (Fear of Missing out) among investors in the encrypted market.
Also, things could be turned right for Ripple after Coinbase recently proclaimed its purpose to list the best altcoins to its platform. We know that Coinbase is one of the largest crypto-exchanges in the world. Coinbase has not been kind to Ripple in the past as the exchange said that despite Ripple being one of the biggest cryptocurrencies in the market, it will never be able to list Ripple (XRP).
XRP / Coinbase? @Ripple @coinbase
– Kieran Kelly ⚡️ 🏴 (@kieranmlkelly) September 26, 2018
Important personalities such as Brad Armstrong have previously stated that it is not possible to list a cryptocurrency under the radar of SEC (Security Exchange Commission). However, Coinbase potentially changing its mind to add Ripple (XRP) is a big news that will improve the customer experience. It will also allow investors from different locations around the world to access Ripple and its services.
While one of our main customer requests was to add support for many new digital resources, we determined how to do it in a compliant and secure manner, while maintaining the standards our customers expected.
– Coinbase (@coinbase) 25 September 2018
The speculation that Coinbase could become friendly with Ripple has also made the price of the XRP wave. At the time of writing, XRP has a market capitalization of $ 22.9 billion. It is currently in the green increasing by more than 20% in the last three days since Thursday of this week. Another noteworthy thing is that the current market capitalization of Ethereum is $ 23.7 billion, so there is a high possibility that the XRP will reverse the Ethereum position and stay there for a very long time.
That said, the cryptography market is volatile, and we are expected to see frequent drops and spikes. Thus, both Ethereum and Ripple's XRPs could continue to change position; it is likely that we could witness a surprising change in the coming weeks.
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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.
Photo by Chris Barbalis on Unsplash
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