The cryptocurrency market is presently in red, however, Ripple’s XRP continues to maintain a greener posture in the space despite the general market situation which experts say it is nothing to write home about.
What appears to be forming as at the time of writing is the indication that XRP is trying to break away from the normal cryptocurrency trend –When Bitcoin rises, others follow suit.
In the wake of Monday, Bitcoin and some other digital currencies witnessed general price plummet. As expected, notable digital currencies follow the trend, but XRP appeared distinct, forming an uptrend graph with the potential of going.
At the time of filing this report, EOS, also saw a price upsurge, but was engineered by a deceptive June announcement. Beyond the “rip-off” June announcement, EOS was listed on Coinbase but had nothing to show for this despite the teeming number of users on the U.S.-based exchange.
However, XRP is breaking the broad digital currency skid that was preceded by a weekend price upsurge. XRP at the moment is maintaining its $0.44 price with just 1% price increase in the last 24 hours, a rare value in the present market.
If there’s any cryptocurrency criticized more than XRP, then, the digital asset must have definitely parked out of the cryptocurrency space. Despite the condemnations and the usual traduce that XRP is centralised and it is created to be a penny stock as maintained by some bitcoin maximalists, the digital currency is standing against all odds to go higher in the market.
The present situation is a testament to the fact that Ripple is gradually becoming a stand-alone digital asset. Also, the present condition affirms that XRP is gradually testing ways to lead the cryptocurrency market out of its present unstable situations for a better wave up the stream.
Many may be wondering what capacity Ripple XRP will use to achieve this. One, it should not be forgotten that Ripple, the parent company spearheading the growth of XRP has a rising number of customers across the world.
The claim that Ripple financial partners do not use XRP seems to have been annulled with the creation of xRapid which allows firms to utilize the token for transaction. Now, this clients have been given the opportunity to use XRP for cross border remittance.
Ripple’s XRP in the Market
The bears are fighting but XRP’s rally remains immutable for them. XRP has managed to maintain its present market price despite the red color which plagued the cryptocurrency space. As at the time of writing, XRP has seen a price growth of 1.12% in the last 24 hours to be traded at $0.044. The market cap of XRP stands at $28 billion with a 24hr market volume of $2 billion.
XRP stands ahead of other digital currencies with its circulating supply which stays at 42 billion XRP unlike Bitcoin, Ethereum, Litecoin that are having circulating supply of 17 million,106 million, and 62 million respectively.
More good tales are undoubtedly underway for the XRP, but the standing jokers of the cryptocurrency are fit for the race in taking the market on a bull run.