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XRP Sales Boost 19-Fold – Price Recovers at $0.30

Jamie West by Jamie West
August 5, 2020
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SAN FRANCISCO, California – RippleNet’s ODL or On-Demand Liquidity experiences 11 times of growth, as per the XRP Markets Report. The sales for XRP surge in the second quarter, having $32.55 million. Aside from that, Ripple bulls’ price rallies to $0.325, yet it couldn’t continue because of the $0.241-price drop recently.

According to the XPR Markets Report, it shows that the ODL of RippleNet faced a growth that’s 11 times larger than last year. As for the XRP sales, it increased in quarter-two. The boost was after it hit a low price in the 2020’s first quarter. As it grows, the ODL network of the firm stays popular.

As per the quarterly report of Ripple, which they released on August 3, the sales of the XRP token of Ripple recorded 18.6 times bigger than the sales report in 2020’s first quarter. The digital asset company noted that XRP sales reach $32.55 million, and the duration was from April to June 2020. In the first quarter, it earned $1.75 million. However, many complained about the company to sustain the balance sheet with XRP trades.

Ripple stated that sales grew after the company prioritized OTC sales instead of programmatic ones. It’s part of the company’s effort to deliver boosted XRP liquidity to the ODL customers. RippleNet’s ODL grew 11 times more from last year to 2020.

Cointelegraph conveyed that the price of XRP rallied in the previous seven days, which is at 40%, while in the last 24 hours, it’s nearly 8.5%. Several experts predict that XRP might even increase to $0.30 if Bitcoin (BTC) stays stable at $11,346.

The price increase attracted depositors, and about 30 new whales for XRP has $240,000 to $2.4 million in their accounts.

As the XRP sales increases, the price continued to rally $0.325, yet it couldn’t endure the uptrend since it faced a drop to $0.241 recently.

The price improved upward, over $0.28 high, and in the following day, purchasers continued driving the price up.  XRP received, yet the price is at $0.32. The upward movement stalled at the high-price level of $0.32 in the previous 24 hours.

Purchasers still struggle to push the price of XRP over the recent high since the price dropped after retesting twice at the resistance level. The market will increase, depending on the present indicators. Also, Ripple is probable to grow to $0.335, if it breaks the resistance level.

XRP will endure moving up as the price stops over the resistance level of the increasing channel. This digital asset is trading over the 80% range, yet the bands are leaning southward. It indicates a strong momentum, yet the price movement displays strong signals.

The price of XRP is dropping under the $0.32-resistance level while purchasers try to drive it over the previous high. After retesting at a price level of $0.32, a red candle body tested the Fibonacci retracement level, which is at 0.618. It specifies that the market will hit the Fib extension level, which is at 1.618. Plus, Ripple will increase to $0.335 in few days.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: BTCcrypto assetcryptocurrencydepositordigital assetdigital walletdropfirminvestmentinvestorliquiditymarketmoneyresistanceRipplesupportUSA
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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