{"id":17158,"date":"2018-08-03T08:41:37","date_gmt":"2018-08-03T07:41:37","guid":{"rendered":"https:\/\/ethereumworldnews.com\/?p=17158"},"modified":"2018-08-03T08:41:37","modified_gmt":"2018-08-03T07:41:37","slug":"sbis-vctrade-and-2-more-reasons-to-continue-being-bullish-about-xrp","status":"publish","type":"post","link":"https:\/\/ethereumworldnews.com\/sbis-vctrade-and-2-more-reasons-to-continue-being-bullish-about-xrp\/","title":{"rendered":"SBI’s VCTRADE and 2 More Reasons To Continue Being Bullish About XRP"},"content":{"rendered":"
The crypto-markets seem to back to the usual bearish trend. Bitcoin (BTC) is trading at levels of $7,345 and the total crypto market capitalization has dropped to $260 Billion when we had seen $300 Billion only a few days ago. XRP is holding steady at $0.438 and only down 0.78% whereas BTC has declined in value by 4.43% in the last 24 hours.<\/p>\n
It is this relative stability of XRP during times of decline, that is the first reason why we should continue being bullish about XRP. As a matter of fact, and according to Ripple’s second quarterly report of 2018, XRP was seen to be less volatile than other alt-coins when BTC was declining in the markets. The report went on to state the following<\/a>:<\/p>\n XRP was notably less volatile in Q2 and XRP\u2019s 9.0 percent price decline was in line with bitcoin\u2019s 8.2 percent decline. Despite the tepid environment, the company\u2019s XRP sales proved to be a drop in the bucket of an XRP market that traded $45.35 billion.<\/p>\n<\/blockquote>\n With respect to relative stability of XRP, something weird also happened on the 1st of August and was noted by a lot of XRP HOLDers. There was a spike in the value of XRP as can be seen by the chart below courtesy of eToro<\/a>.<\/p>\n <\/a>One of the reasons that was postulated, according to eToro’s Mati Greenspan, is that SBI is planing to launch XRP derivatives. Greenspan stated that:<\/p>\n XRP\u2019s recent rise is likely related to Ripple investor SBI\u2019s plan to launch XRP derivatives. What\u2019s more unclear is why XRP spiked 6% over an hour yesterday — one possible explanation is that large banks may be stress testing the system for wider adoption.<\/p>\n<\/blockquote>\n The most likely avenue for the launch of XRP derivatives is on SBI’s crypto exchange known as VCTRADE. This is the second reason to be bullish about XRP.<\/p>\n\n
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