United States – Ripple’s XRP sets to close the October month, with over 25% gains in volume. Ripple’s latest announcement has boosted the digital asset price and other cryptocurrencies, including Chainlink, Litecoin, and Ethereum. The XRP price surged after tons of massive XRP transactions worth over $100 million. The company has seen a strong rebound this month that executives have revealed some gains.
Despite seeing a difficult climb during the coronavirus pandemic, Ripple’s XRP remains to excel at almost $0.30, despite its competitors’ strength across the aggregated market. As XRP continues its journey towards $0.30, it seems that some altcoins are striving to catch up. Bitcoin runs closely to its critical resistance level, and Ethereum has boosted its price by 3%.
Currently, XRP is trading around $0.25, which is 5% higher than its original price last October 1. According to critics, this price is slightly positive for the embattled token holders.
Ripple executives assure the public that they are engaging in new efforts to drive better utility to the token. There is also a strong possibility that it will come closer to other altcoins’ values. One analyst explained that although Ripple’s XRP is progressing slower than Bitcoin, there is a strong chance that it will soon reverse and reach a pivotal point.
Thanks to the overall market strength, Ripple’s XRP has managed to recover from the economic crisis due to the coronavirus pandemic and cracked its pivotal level, turning it into a support level. Furthermore, the increased XRP adoption is getting more fulfilled with increased acceptance due to Ripple’s marketing strategies in partnering with leading global banks.
Although Ripple has faced tons of obstacles this 2020, the company remains encouraged in developing innovations. Ripple’s CTO, Schwartz, commented on JPMorgan’s official launch that XRP aims to serve as an instrument to boost and enhance international payment capabilities.
Ripple’s XRP and other cryptocurrencies have been braced for volatility this 2020. However, the digital asset is about to reach its price target for this year. Although XRP slipped sharply last April, buyers still strived to wrest back control and push the price up again. It may not all be sunshine and roses for the buyers and traders, but its chart is an excellent signal that Ripple’s XRP will surely exceed its pivotal level.
For most of the pandemic, Ripple’s XRP remained competitive in the crypto industry. Although it led the company to decouple for weeks, XRP’s uphill climb increases the belief that this digital asset will hedge against inflation’s tidal wave.