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Ripple’s XRP Rise! Also Attempt to Stay Above $0.5000 as it Breaks Weekly Declining Trend

XRP Headline Stealer

For the last few months, the third largest coin by market capitalization XRP and its team/firm backing it up Ripple[labs] have been taking center stage with no mercy for the other cryptocurrencies. On the 17th of September, Sagar Sarbhai – company’s head of regulatory relations for the Middle East and Asia Pacific announced the plans to commence xRapid:

I am very confident that in the next one month or so you will see some good news coming in where we launch [xRapid] live in production.

Following the announcement, Ripple’s XRP increased tremendously its value against the US Dollar in a daily basis going for the big $1.00. Three times in a week it took Ethereum‘s well cemented second position. During Swell, 1st to 2nd of October, the team confirmed that its technological solution for the financial industry xRapid is already running to make cross-border payments more efficient.

Read Also: Ripple CEO about Why XRP is Better than BTC: “It’s 1000 Times faster and Cheaper”

Afterwards various coins [Tron TRX, Stellar XLM etc] followed the speedy coin’s movement inclining towards price recovery after the bearish beginning of September.

XRP/USD

Since end of September the general sentiment towards the market is in the negative standing as values are fighting to stand higher the important levels. Today’s XRP/USD performance is showcasing a speedy break above the 7-days declining trend that moved the pair from $0.6100 to $0.5120.

As sellers are having their saying throughout the top ten coins by market cap it is difficult at the present moment for the aforementioned pair to make any changes despite its clearing.

Ripple XRP Investing

Source: coinmarketcap

Recommended to See: Today’s crypto-price Analysis Category.

This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Alex Tomzack
About author

Alex Tomzack is a crypto-enthusiast and has been fascinated since first hearing about it. Loves technology, writing, culture while being a regular trader and holder of digital assets. Email: alex@ethereumworldnews.com
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