Ripple update: Unconditioned price movements?
I can’t be the only one here thinking XRP has been due for a breakthrough when it comes to valuation compared to ETH and BTC for months now with all the great news for XRP itself and everything surrounding the asset. This, however, I did not expect. XRP has not been this strong against ETH since December when it passed it for a brief moment. At the time, we did not know exactly what caused the price to move this much, but looking back, there were several big announcements (testing, escrow, new partners, 3 big FI hype) in the months before, on top of a general boost in global crypto interest.
Now, however, we have had solid news and updates month after month with little to no effect on the price. What was the final piece that fell in place this week? Increased faith in xRapid? The large bank announcements joining Ripplenet (xCurrent)? I just get this feeling this is only temporary, and will fall back to approx 50% of ETH valuation like it has been for the past few months. Maybe a bit higher due to a weak ETH price as well.
As I stated, XRP was due for a price jump, but I’ve got a feeling this is a bit too much. I may have missed some announcements, so feel free to update me if you have something. Price went up another 0.03 while I was writing this post.
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: Rezless
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