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XRP Exchange Volume Upsurges – USD Gets Weaker as Per CEO

Jamie West by Jamie West
August 5, 2020
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SAN FRANCISCO, California – XRP experiences an immense rebound on the digital asset markets. After the local peak of $0.327, the exchanged trade volume is around $5.17 billion. The increment is at 417%. As for the CEO of Ripple, Garlinghouse, the United States or the US dollar weakens compared to digital assets.

Ripple’s XRP exchanged at the support of $0.17 on July 1. After that, the cryptocurrency broke out of the falling wedge from a long two-year period. This report was from the cryptocurrency analyst, MagicPoopCannon. Also, this digital asset regained its third sport, beating USDT’s Tether on Coinmarketcap.

The upward impetus of XRP caused a local peak, which is at $0.327. In the same period, the daily XRP exchange volume boosted from $1 billion to $5.17 billion. The last value attained by this digital asset was from August 2. There’s an increase of 417% since the start quarter-three of this year.

As per the Santiment.net, it displays a chart that delivers a better visual signal of the increase in everyday-exchange volume.

XRP tries to claim the resistance level of $0.30, as per the Q2 XRP Market report of Ripple. One significant takeaway from the article is the declaration by the company is the $32.55 million worth of XRP sales in quarter-two.

The XRP sale was OTC or Over-the-Counter, and it didn’t disturb the digital asset market value. Ripple’s team expounded the fact that in quarter-two, the entire sales of XRP is at $32.55 million compared to the past quarter, which was $1.75 million. The company endured concentrating on the Over-the-Counter or OTC sales, which provided the XRP liquidity to the ODL of RippleNet. The additional cash was significant as it lasts to change and enlarge into new corridors.

Brad Garlinghouse, the CEO of Ripple, states that international populations endure losing assurance in money currencies. He said on Twitter that the US dollar may not yet step out of its place as a reserve currency of the world, yet it’s getting weaker if you are to compare it with digital assets, like Bitcoin.

Garlinghouse shared how several decried digital asset as a scam a year ago. Now, the majority of governments take blockchain seriously. It addresses resistances, like transparency and settlement, and these were difficult to solve before. The digital asset is 80% up, but the US dollar is 3% down on its year-to-date or YTD.

Garlinghouse added that outdated monetary systems are as bullish as the trust of people. He said that fiat currencies are losing. He explained what Tom Lee stated, a Fundstrat handling partner, everything comes down to believe in the funding system.

The CEO also said that when the international population endure losing poise in money currencies, like the US dollar, people will select to diversify. He added that the future international funding scheme would ensure the same.

Tom Lee, Fundstrat Global Advisors’ co-founder, explained that broken trust is in the typical funding scheme, which is a theme. The less confidence you have in the dollar, the more you trust alternatives.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: BitcoinBTCcomfortcrypto assetcryptocurrencydigital assetexchangemarketpricequarterresistance levelsalessupportUS dollarvaluevolumeXRPXRP price
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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