One thing that can be said about Ripple (XRP) in the markets, is that the coin has held its own in terms of market stability. As the big two coins of Bitcoin (BTC) and Ethereum (ETH) have had days of major volatility, XRP generally does not exhibit the same. Looking at the three month chart for the coin, it has traded between the levels of $0.47 and $1.20: not much volatility during a period of time where the future of the cyrpo-verse was held by what looked like a fine silk thread due to FUD.
XRP is currently trading at $0.90.
So how is XRP slowly but surely not only maintaining but getting to the top?
Firstly, XRP has been increasing its liquidity by being listed on more exchanges with the most recent being UpHold. The platform has a digital wallet with debit, credit and automated clearing house capability. It allows users to exchange XRP with 34 different currencies, commodities and digital assets. Not more than a day ago, popular cryptocurrency exchange, Binance, announced that it will be now offering XRP/USDT pairing. This adds to the aforementioned liquidity and ease of trade on the platform using XRP.
Secondly, there is the much anticipated cryptocurrency exchange by the Japanese Banking conglomerate known as SBI Holdings. The exchange is scheduled for release this summer with much anticipation by the company CEO, Yoshitaka Kitao. He has stated that the exchange shall be ‘Number one’ once released.
Thirdly, Ripple has been amassing banking partnerships on a weekly, if not daily basis. News was still fresh about the launch of Santander’s remitting service known as One Pay FX that uses Ripple’s xCurrent, when there was news of Ripple partnering with BankDhofar from the Sultanate of Oman. The total number of banking partnerships by Ripple is above 100 and close to reaching 200. The exact number has not been announced.
Another reason why XRP is slowly making it to the top, is the ease at which peer-to-peer remittances can be made efficiently. A Reddit user has since announced how he used XRP to pay for a haircut less than 24 hours ago. This means that XRP is slowly but surely taking over the day to day payment of goods and services and with it, probably the crypto markets in terms of market share.
Ripple Live Chart
- Price $0.62
- Market Cap24,355,899,031.00