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XRP Accumulation Builds Enormous Breakout Against Bitcoin

Jamie West by Jamie West
November 4, 2020
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United States – Ripple’s XRP and Bitcoin are two of the most trusted cryptocurrencies in the United States. Although XRP has barely increased in the few months, this digital asset has received more hype than Bitcoin.

While Bitcoin remains a digital currency for purchasing goods and services, Ripple improves its service as currency exchange, remittance system, and payment settling. Ripple’s mission is to provide a better and more convenient system for direct transfer of assets, such as money and gold, almost real-time.

According to the recent report, Ripple whale continues to accumulate large XRP supplies while XRP is bleeding out against BTC. It is hard to imagine Bitcoin when it is currently falling, but sometimes, there’s something more behind the scenes that the company plans for a massive move and change.

At the time of writing, Ripple has spent almost three years staying behind Bitcoin. Since mid-2019, XRP has done a lower trade while grinding lower. The silent XRP accumulation of whales matches the same scenario as Bitcoin did before its most recent breakout. Tons of whale-sized BTC wallets continuously increased until the supply was not enough to go around. Now, it could be Ripple’s turn.

According to some reports, one million or more Ripple XRP wallets have increased by at least 20%, while wallets with over ten million grew by 10%. With these percentages, prices rapidly increased, and thousands of investors worldwide tried to catch the breakout. When Ripple’s XRP broke out, the moves became very substantial, and the digital asset outperformed Bitcoin.

In the past few weeks, the public saw a sharp increase in Ripple’s resistance area. XRP price surged above the $0.25 level and settled very well. Indeed, Ripple has carved out a reliable niche in hosting cross-border payment than Bitcoin.

One of the prominent companies that partnered with Ripple is American Express, which moves corporate funds between the United Kingdom and the United States through Ripple’s remittance system. Millions of people will continue to consider XRP since it erases the inconvenience of transferring money across borders.

Currently, Ripple is the most highly adopted cross-border transfer payments. It enables customers to settle, clear, and message fund transactions quickly, unlike PayPal and Swift.

Undoubtedly, Ripple has plenty of potential in expanding easier banking access through efficient cross-border transfers. Since millions of people are still relying on cash to purchase and sell goods and services, Ripple strives to give more banking access to the unbanked population. Since Ripple offers a more accessible platform, it continues to attract more investors and smart investment decisions.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: Bitcoincross-border paymentcryptocurrencycurrencydigital assetmoney transferRippleRipple XRP
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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