• Home
  • Ripple
  • XRP
  • Contact Us
XRP News
No Result
View All Result
XRP News
No Result
View All Result

XRP Price Is Up by 29% – Japanese Exchange Plans to Use This Crypto

Jamie West by Jamie West
August 1, 2020
Home News
Share on FacebookShare on Twitter

CALIFORNIA, The United States – Ripple’s XRP price increases about 29% in the previous two weeks as large depositors appear to assume accruing XRP worth millions of dollars. Despite the rise, analysts recommend a pullback. Also, a Japanese exchange company plans to utilize this crypto for international cash management.

Big depositors are collecting XRP at a price that’s over the multi-month resistance block.

The XRP price is back after almost three months of a prolonged downward trend. This digital asset hit over the 50-three-day MA or Moving Average on July 17. Ever since the XRP price did nothing but to boost up until it reaches to a high rate of $0.25, and the upswing was about 29%.

The digital asset turned its 100-three-day MA to assist within the same period. Moving over this obstacle suggests that this crypto might progress more to the succeeding resistance block. The 200-three-day MA represented this barrier, where the resistance level is at $0.28.

The positive viewpoint that the worldwide settlement crypto presents were unnoticed. As per the data, it reveals that big investors collected XRP in the previous two weeks. It might assist propelling the altcoin to higher highs if it endures.

The holder distribution chart of Santiments displays that the purchasing pressure of XRP rises. The interactive analytics firm documented a critical point, which is in the number of destination with millions of dollars. The industry refers to addresses as “whales.”

Addresses that have 1 million to 10 million XRP since July 18 progressively increased. Around 30 new whales joined the system, and it represented a 3.7%-boost in a short time.

The immediate increase in big depositors might appear to be unimportant. As you consider that these have $240,000 and #2.4 million in XRP, the upsurge in purchasing pressure can interpret into millions of dollars.

FXCoin, a Tokyo-based digital asset exchange, planned to set up an XRP-based switch market as per the announcement yesterday. The purpose is to verge price movements to the benefit of digital assets.

FXCoin received an unidentified investment-amount from SBI Holding, a Japanese funding tycoon, on April 2019. This Japanese trade entered a third party equity distribution, which is with SBI Holdings. On the other hand, the company didn’t disclose the details regarding the shares that SBI Holdings purchased.

SBI Holdings is one of the significant supporters of Ripple in Asia. Yoshitaka Kitao, SBI Holdings’ CEO, joined the Board of Directors of Ripple in April 2019. As for FXCoin, it declared that it would create an XRP-based switch market.

The public new FXCoin’s preparation regarding the launch of a payment pilot project, which is from Ripple’s XRP. The exchange wants to establish new products that will provide more advantages to the crypto world. The national and worldwide payment product is one of the first pilot projects of this exchange, and it utilizes XRP for transactions.

Yasuo Matsuda, the chief strategist of FXCoin, stated that the company continues with the demo experiment of local payment, along with abroad transfers via XRP. International cash management, trading, and corporate finance are also methods for transfers.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: altcoincryptocryptocurrencydigital assetdigital walletdollarsdownwardexchangeinvestorsJapanese exchangeresistanceRippleTokyounknownUSAXRP
Jamie West

Jamie West

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

Next Post
Ripple Sends 15 Million to MoneyGram FXCoin to Give Away XRP

Ripple Sends $15 Million to MoneyGram – FXCoin to Give Away XRP

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

  • XRP Price Maintains Rally Hopes as DOGE Breaks Down March 6, 2025
  • XRP price to $18K? — One crypto ‘research’ group says it’s possible March 6, 2025
  • Research Group Predicts XRP at $18K—Too Good to Be True? March 6, 2025
  • Blockchain Investigator Finds 2.7B XRP in Dormant Wallets—Tied to Ripple Co-Founder? March 6, 2025
  • XRP Price Watch: XRP Holds Steady, But Is a Big Move Coming? March 6, 2025

Chat with our XRP expert!

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.

  • Home
  • Ripple
  • XRP
  • Contact Us

2023, XRPNews.com

No Result
View All Result
  • Contact Us
  • HTML Sitemap

2023, XRPNews.com