Ripple’s XRP remains in the red zone in the crypto market 2019
Altcoin

Ripple’s XRP remains in the red zone in the crypto market 2019

By Stefania Stimolo - 4 Nov 2019

Chevron down

Despite the continuous news about the Ripple (XRP) world, the third crypto per market cap remains still in the red zone, without being able to ride the upward waves of the crypto market recorded in 2019.

According to an analysis, from January 2019 until this November, all the main cryptocurrencies have fluctuated in price showing significant growth. All except the crypto famous for its on-demand banking liquidity which, instead, seems to be paralysed in its market value. 

Here is the tweet of the analyst and crypto trader, CryptoThies:

A situation that, however, does not seem to reflect the latest news regarding the increase in the adoption of XRP with the banking partnerships of the Ripple company. 

Just a few days ago, the banking giant SBI Holding announced its intention to extend the adoption of XRP from Japan to Southeast Asia. Not only that, but just today the Vietnamese TPBank also announced its desire to integrate the payment system of SBI Ripple Asia, the subsidiary of SBI Holding in Asia, and therefore use RippleNet. 

But all this, at the moment, does not seem to affect the market price of the third cryptocurrency

A possible explanation for a non-increase in price can be attributed to Ripple’s continuous dumping. Only in the third quarter of this year, Ripple dumped over $66 million. Moreover, during this 2019 there were also discrepancies between the reports published by Ripple and the real funds recorded on the XRP ledger

In any case, in contrast to the market, the whirlwind of news in Ripple’s house regarding its XRP crypto seems to continue.

Another novelty, in fact, is the ODL or On-Demand Liquidity of XRP that offer the possibility for users to obtain liquidity on demand whenever they need it. A new version of the xRapid service that just today seems to have surpassed its liquidity record of XRP, going from 3 million XRP to 4 million XRP.

According to Liquidity Index Bot, on November 1st, XRP’s liquidity through Bitso’s Mexican gateway would have been exactly 4.14 million XRP.  

 

Stefania Stimolo
Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.