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Ripples XRP tokens by means of 0,50 US Dollar exchange rate increase of 14% breaks

Ripples XRP tokens by $ 0.50 brand-price increase of 14% breaks

Home News Ripples XRP Token breaks through $ 0.50 brand – price increase of 14%

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Marcus Misiak –
06.11.2018

While the cryptocurrency market is currently sideways, XRP broken this Trend and has risen by 13%.

24 hours ago, the trading price of XRP was 0,4639 USD, for a market capitalization of 18.6 billion USD and a trade volume of 406 million USD. At the time of writing the market is the increased capitalization, to 20.8 billion US dollars, with an increase in trading volume of 864 million US dollars. The XRP price has climbed as a result on 0,5314 USD.

Ripple and XRP experienced in the month of October, several rallies on strong dips to a sideways market. The trigger for the strongest rally of the official Launch of the software solution xRapid that uses XRP as a bridge currency to increase efficiency.

The current rally seems to be from the Asian market. The biggest trading volume currently comes from the Bitbank (XRP/JPY). Then Upbit follow on place 2 (XRP/KRW) and place 4 Bithumb (XRP/KRW). About a third of the XRP trade volume comes from the Asian market (the Japanese Yen and the Korean Won).

In addition, it is speculated whether the price rally has taken place due to the fact that SendFriend xRapid has taken in operation. In the case of SendFriend is a cross-border money transfer service, which aims to reduce the cost and improve the customer experience.

The platform is mainly aimed at the Philippines-based individuals who want to quickly and conveniently send money to their family members. The project was awarded with the mit Media Lab, Translational Innovation Alliance Award, because there are the people who have no access to banking services, an opportunity to move financial resources across borders.

Another reason for the rally could be the announcement at the recently held Global Islamic Economic Summit in Abu Dhabi, that Ripple will get through its office in Dubai in the middle East market. The process could be completed by the end of the year, and the Ripples approach, to be cheap and flexible, it will allow him, his Blockchain seamlessly in the UAE market.

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