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The XRP began to awaken a few days ago, and then performed price movements not seen for months during the bear market. The XRP is gaining strength for a while, having been under pressure for months after realizing that the business may not be necessary to execute inter-bank transactions.
The XRP has grown over 40% overnight to reach $ 0.45 starting at 6:30 UTC. The rapid climb began around noon on September 20th, from levels around $ 0.30. Last week XRP made several jumps at a higher price, first above $ 0.30, then at the current range, with $ 0.50 in sight.
The Brad Garlinghouse Effect: Some optimistic tweets from Brad Garlinghouse have emphasized that Ripple is a very active project, with different solutions to be rolled out and tested in the coming months. Garlinghouse has praised the Coil technology, allowing the use of XRP as a social media currency.
https://twitter.com/bgarlinghouse/status/1042953734114791424
Garlinghouse may It seems that it contains its enthusiasm for the recent price increase, emphasizing that XRP stands once again entering an upward spiral, similar to the bull market of 2017 and 2018.
Partnership News: The news of a partnership with the PNC bank based in the United States, this time, was accepted enthusiastically by the markets. Ripple has announced partnerships with multiple banks in the past, initially creating expectations on banks that would use XRP assets. The partnership with Ripple is described as potentially capable of facilitating easier interbank transactions:
"With over 8 million customers and branches in 19 states, PNC has a diverse group of customers, including consumers, small businesses and large companies. Ripple technology will have an immediate impact on each of these groups, allowing PNC's commercial customers to receive payments from foreign banks in real time, "said Ripple in a blog .
However, the partnership is only a small part of the price upward pressure, and in the past, similar news has failed to arouse the price. This led many to a certain skepticism about the effect of the partnership, suspecting market manipulation, the next possible factor for the increase.
Market manipulation: The crypto goods market is illiquid, and concerted efforts on the move the price is very often successful. Some believe that exchanges are manipulating XRP, with the desire to attract traders with a currency that offers more robust growth, at least in the short term.
https://twitter.com/XRPcryptowolf/status/1042877918211452934
Since the XRP started out as a cost reduction compared to its peaks, it took some points out of the market dominance of Bitcoin (BTC), and may have triggered higher yield expectations. XRP has seen price forecasts of more than $ 5, so buying interest. With projects in the pipeline, XRP is considered one of the coins that regularly delivers positive news in the months up to December.
In addition, Ripple announced partnerships with Bittrex and two other exchanges, attempting to ensure market dominance:
https://twitter.com/cryptojumpers2/status/1042036271076528128
Partnerships somehow manage to compensate for the accident caused by the fallout with Coinbase, seen as the most promising exchange service for XRP.
Announcing xRapid: This time, banking partnerships with banks will soon see real technology rolled out. The months until the end of the year will have a constant expectation for the official launch of xRapid, Ripple's flagship technology, with the aim of finally offering a system of inter-bank transactions to compete with SWIFT. Despite the fact that XRP may not be the key to the use of xRapid, bullish sentiment is affecting the asset. The reason for this is a clear use case for blockchain technology, unlike more nebulous designs that do not seem to tap into the real business.
The rumors also see Ripple involved in the movement of funds in the international forex market: [19659002] https://twitter.com/LeeR912/status/1040970697517019138
Simply attractive prices : XRP seemed simply attractive with prices hovering for weeks around the $ 0.30 interval. Ripple, along with Stellar, has finally seen their profits in marketing, being able to stand out from other projects in terms of use cases and technology. This is the main reason why both XRP and XLM look to a more robust appreciation than other cryptographic assets. XLM, which is seen as the open source version of Ripple, has grown by over 14.6% overnight, to $ 0.23.
In 2018, it is much easier to acquire XRP, with an on-ramp ramp on Bittrex, as well as other options for trading and buying. The ease of purchase of XRP guarantees the rapid appreciation of the price.
Neither the author nor the publisher assume any responsibility for any investments, profits or losses resulting from such information. Trading and investments in cryptocurrency are risky propositions and market participants are advised to always conduct in-depth research.
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