Latest News: XRP Gains Momentum While Bitcoin Struggles

United States – While Bitcoin is currently the most prominent digital currency, Ripple’s XRP gains more interest this 2020. Throughout the year, Ripple continuously adds new features to help fund business operations and incentivize customers.

According to internal sources, Ripple’s XRP trades well above the $0.2500 support and runs a steady increase. Last October, the digital asset even broke the $0.2600 resistance level. XRP has resumed its march higher despite the coronavirus pandemic.

Other top ten cryptocurrencies, including Bitcoin and Ethereum, have not gained the same increase this year. Although Ripple’s XRP fell as the economy closed, many critics claim that the currency can still win before 200 ends.

Many investors are happy with XRP’s performance, especially with the latest On-Demand Liquidity that has increased significantly in the third quarter. Despite experiencing some fallbacks last April and May, investors believe that XRP can outperform Bitcoin in the next months. It may not look much, but XRP’s price and performance are getting better.

As some critics explain, XRP can break out of a falling wedge, and people will surely be surprised with Ripple’s performance in 2021. Some analysts predict XRP rising to $0.77, which is incredibly higher than the $0.25 mark this year. Ripple’s XRP may not easily break the strong resistance along with the $0.33 this year, but it will surely stabilize and level up next year.

Recently, Ripple purchased $46 million XRP for the first time, despite owning nearly half of the currency’s supply. The executives claimed that the transaction aims to support ‘healthy markets” and create more interests around XRP. With this strategy, Ripple can increase XRP’s price, especially during the launch of the newest system called Line of Credit, where customers can buy XRP on credit from Ripple. Unlike Bitcoin, Ripple uses new ODL capabilities to source XRP liquidity from the open market dynamically.

Furthermore, Ripple also opened its newest regional headquarters in the Dubai International Financial Centre. This location is suitable for Ripple since it has a unique and reliable judicial system and regulatory framework.

The blockchain-based payment firm reportedly chose Dubai since it has more innovative regulations and offers a special economic zone for blockchain-based companies across the Middle East, South Asia, and Africa.

Ripple CEO Brad Garlinghouse has shared that the DFIC in the United Arab Emirates offers companies like Ripple profits for at least 50 years and no corporate income taxes.

Ripple Buys $46 Million XRP to Support ‘Healthy Markets’

The United States – Before 2020 ends, Ripple decided to buy $46 million XRP for the first time, despite owning nearly half of the currency’s supply. According to Ripple executives, this purchase aims to support “healthy markets” and attract more investors. A Ripple spokesperson confirmed that the company would continue to purchase XRP to support new projects, including the On-Demand Liquidity (ODL). The ODL solution utilizes XRP for fund transfers.

Although Bitcoin has the strongest correlation with other cryptocurrency assets, XRP has managed to bounce back and take off higher. Ripple believes that purchasing the $46 million XRP can help the digital asset and lean towards XRP’s dull price.

According to the executives, the $46 million can help Ripple’s new product, Line of Credit, in attracting more customers to buy XRP on credit. With this strategy, it is clear that Ripple is building new ODL capabilities to use XRP liquidity in long-term use dynamically.

Despite holding nearly half of XRP’s supply, Ripple still actively works to bridge cross-border payments and help more global banks in different countries. Despite the coronavirus pandemic, Ripple has impressively maintained its stance on programmatic sales and did sell XRP very well.

This fourth most valuable cryptocurrency has indeed experienced huge transactions this 2020. Large investors are keenly rushing to purchase the undervalued crypto. Thousands of people believe that Ripple’s XRP will surely become better than Ethereum and Bitcoin in 2021.

Since Ripple plays dual roles, it is cheaper and faster than other altcoins as a currency and a payment platform. Unlike its crypto rival, Bitcoin, Ripple has gained plenty of attention from the most prominent global banks, including Standard Chartered and Barclays, for cross-border transactions.

Last quarter, Ripple announced its new beta service called Lie of Credit, which allows more customers to purchase XRP on credit directly from Ripple. With this project, more customers can use this digital asset and accelerate their business performances and scales. Line of Credit aims to reach new customers and enter new markets. According to Ripple, ODL customers have piloted this project, and the initial reviews are overwhelmingly positive.

With the latest “Line of Credit” beta service, Ripple will start buying XRP to reduce supply. Many in the community worries about oversupply that might lead to poor price performance throughout 2021. However, Ripple assured that they will prevent it from happening and will continue to support healthy markets.

Ripple XRP Volume Increased by Over 10% This 2020

United States – Sine the world is walking closer at the end of 2020, cryptocurrencies worldwide are striving to hit their highest points. One of the most successful digital assets that hit the highest is Ripple, which reached its all-time high of $3.65. With the year drawing to an end, many critics predicted that XRP’s price would go even higher by December 2020. This prediction caused many investors to buy more tokens and trust Ripple.

According to the recent report, the average daily XRP volume has increased by more than 107% in the third quarter. The total XRP revenue for the second quarter is $35.85 million, and it increased by more than 10% this month.

Currently, the average daily XRP volume increased to $403.58 million in Q3 from $196.28 million in Q2, which is great news for the XRP holders and investors. Thanks to Ripple’s new payment solution called the On-Demand Liquidity (ODL), the San Francisco-based firm earned a significant increase in network usage.

Furthermore, Ripple also revealed that the total XRP sales net is now at $35.84 million, which is way higher than last year’s $32.55 million. The company stated that they remain focused on over-the-counter leases and sales to provide sufficient liquidity to certain ODL customers. Since Ripple has now earned 3 billion XRP, they returned the 2.4 billion to the escrow account.

According to Ripple’s executives, they will freeze 55 billion XRP in escrow and release one billion XRP every month. Although this measure received some backlashes, it still resulted in XRP’s excellent performance this 2020.

A report states that Ripple is one of the most productive digital assets that made gains between 5% and 14%. Therefore, some critics are warning Bitcoin to overcome its resistance area near $12,000. Although Bitcoin has doubled its price this year, finding support from the investors is still difficult.

Unlike Bitcoin, XRP has proven its extreme resilience and come to the fore during the pandemic. Ripple’s representatives stated that they would continue to help customers raise capital on demand and soon expand the company’s services to other markets and customers in different countries.

For healthy market growth, Ripple has been repurchasing large quantities of XRP. According to the executives, this strategy helps the company promote adaptation and growth and continuously stimulate the market.

More investors are getting interested in Ripple’s XRP due to its lower fees and faster transaction times for arbitrage trading. According to experts, this digital asset will soon become the fastest and more efficient cryptocurrency than Bitcoin and Ethereum.

Ripple CTO: Ripple’s XRP Is the Bridge for the World’s Fiat

The United States – The world can use Ripple’s XRP as a bridge for cross-border payments, according to Ripple’s CTO, David Schwartz. He claimed that there might not be a one-world fiat, but Ripple’s XRP can serve as a reliable and convenient bridge.

Since central bank digital currencies are gaining more attention in the crypto industry, more financial institutions from different parts of the world are interested in tokenizing or digitizing their currencies. The G-20 Financial Stability or FSB created a regulation on digital assents after talking with XRP’s community members.

According to FSB, the advantages of using Ripple’s XRP can make international payments faster and cheaper. Many people in the XRP community believes that the world has enough room for the global stable coin’s emergence.

When comparing XRP and XLM, many participants asked Schwartz about the “neutral and jurisdiction-less” assets. The Ripple’s CTO responded that many digital and fiat currencies would complete playing a specific role. However, the industry has enough room for more than one. Ripple also sees the dollar’s role is slowly shrinking, and international commerce is increasing in the world’s settlement. Surely, many companies will fight for a share of a bigger market.

If digital assets and its demands will continue to rise, Ripple’s XRP will undoubtedly have ore strength to break through and reach more investors. Under such circumstances, prices will likely shoot up by more than 20%. Schwartz gave a speech to Berkeley University last October 19, 2020, and he discussed the XRO Ledger and its goal of being an asset with neutral jurisdiction. According to the Ripple CTO, XRP Ledger has the required features to process neutral and native asset transactions.

Plus, the platform can also bridge other assets to work with other payment networks. Most people still do not know that Ripple’s XRP plays an essential role in the ecosystem for the world’s greater liquidity. However, since XRP Ledger cannot handle all the world’s payments, Ripple XRP can serve as a backbone or hub that provides a faster bridge or international settlement piece. It may not solve everything, but the platform will surely help with interoperability and concentrating liquidity. This way, many companies or enterprises don’t have to keep funds in each payment system.

Ripple’s XRP and the blockchain technology will surely make cross-border transactions better in the next years. With the digital asset XRP, the world can have instantaneous transfers, especially with Ripple’s On-Demand Liquidity.

XRP Ripple Prediction: XRP is Ready for A Strong Growth

United States – After the 2020 XRP Ripple Swell Conference last October 15, 2020, Ripple CEO Brad Garlinghouse claimed that XRP is ready for the ultimate liftoff to $0.3. The cross-border token has recently reached the $0.26 mark. During the Swell Conference’s opening keynote, Garlinghouse revealed that the world has used XRP in about 20% of all transactions and has a nominal value of about $2 billion.

The Ripple CEO also shared the company’s mission to increase its pulling power in Asia. XRP’s speed, scalability, and low cost per transaction are beneficial for Asian business people and entrepreneurs with instant settlement and exchange. Currently, XRP Ripple has over two dozen customers, and most of them use MoneyGram, Azimo, Flash FX, and SendFriend. According to Garlington, these customers are using the on-demand liquidity in production.

The Ripple CEO also discussed Azimo’s huge success with XRP Ripple. According to Garlington, Azimo saves between 30% to 50% when arranging currency transfers between the Philippines and the United Kingdom using XRP and its on-demand liquidity. Thus, it is quite clear that 2020 has been a massive year for XRP. Many researchers predict that the public will see rapid XRP growth before 2020 ends. Ripple is very excited by the customers’ interests and how people see this cross-border currency’s real value.

Although Bitcoin continues to be the most appealing cryptocurrency among investors, some are starting to hold alternative assets, including XRP, leading to Ripple’s more significant growth. With more than 500 employees now, RIpple is surely more equipped to face the future and attract more customers.

Currently, they are promoting XRP in Asia. As Garlinghouse explained, most cryptocurrency transactions come from the Asia Pacific region. He further stated that this situation could help them attract more interesting customers in different Asian countries.

When the Ripple CEO spoke about the Line of Credit (LOC), he said that it would help many companies quickly adapt to the on-demand liquidity and upscale their businesses. With LOC, Ripple and its customers can step into a more convenient and safer world of financial services by adopting XRP. This platform indeed helps upscale companies since they no longer have to separate credit agreements in different countries.

Ripple has undoubtedly delivered a litany of good news at the Swell Conference 2020. The company surpassed over 300 new customers, including some giant and a global network of banks and payment providers.

Holders of XRP to Get Excited as Token Reaches All-Time High

Holders of Ripple’s cryptocurrency, XRP, will feel thrilled because fantastic news about the virtual token awaits them today.

On-Demand Liquidity-enabled cryptocurrency exchange, Bitso, confirmed that their liquidity index for XRP had reached an all-time high of three million XRP.

Mexican Bitso Liquidity Index Shows Ripple’s XRP token reaching All-Time High of 3 Million

Digital currency analysts may reckon this development as having not that much volume for Ripple’s virtual currency.

Nevertheless, Bitso’s data is significant, considering that it is a business employed to serve on-demand liquidity (ODL) for financial institutions utilizing XRP.

Furthermore, another essential feature of this event is the percentage rate at which the liquidity index expands.

With the liquidity of XRP skyrocketing, this trend is similar to a snowball steadily rolling downhill to serve ODL clients.

This development for Ripple’s virtual currency demonstrates a lot of promise for it. Holders of XRP certainly have so much to look forward to with these events.

Mexican Bitso Liquidity Index shows Ripple’s XRP token’s uptrend performance

The 24/7 non-stop stream featured below presents all of the latest ODL transactions. It also comprises Bitso transactions.

These events involve batches of roughly 40,000 XRP lately, and they take place every 15 minutes.

Things Are Looking Up for Ripple and Its Virtual Token

Positive events recently marked the existence of cryptocurrency exchange, Ripple, and its virtual token, XRP.

Ripple reportedly took some huge steps to achieve new milestones for its growth. It inked several new agreements with banking institutions and payment systems.

PayPal in Japan, which has one million retailers and ten million users, reportedly signed up to RippleNet.

Moreover, Ripple has announced that is has acquired a massive stake at money transfer service provider, MoneyGram, aside from introducing on-demand liquidity.

To be nearby the US regulators and to conduct productive talks with them, Ripple has also established a new office in Washington, D. C.

Besides these promising developments for the cryptocurrency exchange and its virtual token, a supporter named Crypto Welson shared his bullish sentiments for the cryptocurrency entities.

On Twitter, the cryptocurrency analyst owns the handle, @CryptoWelson. He shared his views on the popular social media website, saying that he is “ultra bullish” on Ripple and XRP.

The tweet, dating October 31, 2019, shows Crypto Welson’s optimism and observation, citing that in 2018, the virtual token of Ripple had its trading price’s performance being relatively motionless.

Furthermore, XRP had been in the accumulation stage, Crypto Welson remarked.

Nonetheless, he relayed that Ripple and its virtual token are entering the bullish territory, and are prepared to enter new heights.

Crypto Welson affirmed this perspective, seeing that there has been plenty of news and collaborations involving Ripple and XRP lately.

Crypto Welson is anticipating a massive fear of missing out or FOMO on XRP soon.

Finally, Justin Bieber and his celebrity manager, Scooter Braun, are reportedly another set of promising Ripple and XRP backers.

In July, Ripple’s Xpring had an agenda of sealing a deal with the pop singer, his manager, and another pop icon, Ariana Grande, worth $500 million.

The substantial investment is reportedly aimed at finding new usage for Ripple’s cryptocurrency.

The October 30 tweet of a Twitter user, @BankXRP, appears to be alluding to this development. The message presents a video of Bieber running at famous tourist destinations.

Ripple and its virtual token, the XRP, have reportedly found another supporter in pop singer, Justin Bieber.

It also demonstrates famous film scenes having his running figure embedded on them, like those from “Trainspotting” and “Pirates of the Caribbean.”

The phrase ‘Runs on Ripple’ is visible on the presentation, which seems to relate to the reported partnership between the “One Time” singer and the cryptocurrency exchange.

Holders to See Rise of XRP on Bitso as Ripple Invests on Firm 

Ripple has officially made it known to the public that it has invested in Mexican on-demand liquidity (ODL) cryptocurrency exchange, Bitso.

Through Twitter, the developer of the virtual token, XRP, released its official statement on October 14.

Ripple stated that Bitso plays an essential role in #RippleNet’s United States to Mexican corridor.

The company also mentioned that they are excited to grow their collaboration as they expand their reach in Latin America.

Ripple’s Twitter statement consists of a quote to the tweet of Asheesh Birla, the Senior Vice President of Product at the cryptocurrency organization, released on the same day.

Birla, whose Twitter handle is @ashgoblue, remarked that they are excited to reveal their investment on Bitso.

He cited in his tweet that Ripple and the Mexican ODL cryptocurrency exchange’s alliance dates back to 2014.

The Ripple executive added that they are honored to back their next level of expansion as they progress in Latin America.

Bitso is reportedly going to play a vital role in the liquidity of XRP/MXN.

Ripple remarked that Bitso plays an essential role in #RippleNet’s United States to Mexican corridor.

Yesterday, the Mexican on-demand liquidity (ODL) cryptocurrency exchange witnessed a 10-percent surge in XRP liquidity, setting an all-time high.

The liquidity of Ripple’s virtual token on Bitso is presently 2.9 times higher than the Bitcoin liquidity.

Ripple’s virtual token, XRP, is presently the leading cryptocurrency traded on Bitso.

This development is relevant as XRP is presently the leading cryptocurrency traded on the Mexican ODL cryptocurrency exchange.