XRP is one of the few cryptos currently in the green while the market is running red. With more than 9% gains, XRP reached $0.309 while the company behind this digital asset Ripple is announcing a number of positive news keeping the community excited and hopeful.
XRP surges while market plunging hard
While the market is in deep red, the world’s third-largest cryptocurrency shoot up over 9 percent. If we take a look at the 24 hours price chart, it can be seen the hike XRP took. At the time of writing, XRP has been sitting at $0.3092. Today’s price range has been between $0.2688 and $0.3149.
This has been while the majority of the crypto market is experiencing deep loss. As for the top cryptos, they are all in red as shown below, except for XRP.
A few other cryptos in the green are, Steem, Chainlink, QUASH, Kin, and Stellar among a few more as shown in the below chart.
So, where exactly, XRP is going? With a positive momentum in the market with a number of good news surrounding it, XRP price seems to have a lot of potential in the near-term. Till a few hours back, $0.30 has been the ultimate bullish goal of XRP but this sudden surge broke that level.
XRP has psychological support at $0.28 while having a downside on $0.2700. Though it is expected that the price will come back to its level before this hike and then move in tandem with the market that signals red right now, XRP can take a further rise as well.
Also, read: XRP Showing Bullish Angle while Ripple Plans to Dominate Global Cross-border Space
While good news keeping up the momentum
XRP price is seeing action in tandem with the number of developments happening around it. The company behind this digital asset, Ripple recently shared another of its product xRapid all set to enter the market in next month and so as stated by Sagar Sarbhai, the Head of Government & Regulatory Relations, APAC & Middle East at Ripple:
“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”
Not long before, Brad Garlinghouse, Ripple CEO has shared:
“I’ve publicly stated that by the end of this year I have every confidence that major banks will use XRapid as a liquidity tool this calendar year. You know, by the end of next year, I would certainly hope that we would see you know in the order of… dozens.”
Furthermore, recently, The Philippine Digital Asset Exchange (PDAX) acquired a license from Bangko Sentral ng Pilipinas (BSP) to trade between Philippine peso and number of other cryptocurrencies.
XRP is one of the few cryptocurrencies that are listed on the platform that requires registration, fees, AML measures, and security controls to be followed.
Also, Ripple partner, Japanese giant SBI Holdings is also planning to launch Ripple-powered MoneyTap that will improve the payments infrastructure in the country.
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