Over the course of the week, each of the five largest crypto currencies would have become more expensive, but the momentum is currently declining. The situation at Ripple is different: the price rose significantly in double digits on Wednesday alone. “The shareholder” name the details and give an outlook.
Vitamin B only harms those who don’t have one – that’s the saying. The team from the Ripple network is aware of this wisdom and continues to diligently conclude new collaborations. The latest coup caused the latest price fireworks, as XRP was able to win one of the largest independent payment service providers from South Korea. With the partnership, GME Remittance wants to expand payment transactions between Korea and Thailand. The Asian region is already the strongest growth driver for XRP. The transaction volume there increased by 130 percent compared to the previous year.
The general rally in the top 5 crypto currencies started around three weeks ago, including XRP. The price of a coin has temporarily increased by 112 percent. Yesterday, Wednesday, stood out in particular, the price had exploded by 23 percent after the announcement of the new cooperation. XRP is leading the rally of the top five Krypo-Coins.
The price fireworks stopped yesterday evening near the multi-week high and the current resistance at $ 1.09. The profit-taking would have caused a setback of twelve percent. Consolidation may have bottomed early this morning. The price fell to $ 0.95 and has already recovered by five percent in the course of trading.
A strongly bullish sentiment and the positive news flow at XRP would provide fuel for the current price fireworks. The Ripple network continues to grow and the new cooperation will further increase growth.
Note on conflicts of interest: The author holds direct positions on the following financial instruments mentioned in the publication or related derivatives that benefit from any price development resulting from the publication: XRP. (08/12/2021 / ac / a / m)