Market goes one way, XRP goes the other. Why is Ripple’s token doing so good in this bear market?

2018-11-19 23:03

A slew of positive news created a favorable environment for the Ripple’s cryptocurrency in November. The price reacted accordingly to the joy of XRP holders. The XRP price has rocketed in comparison to the 17th November 2017, by +113%. Bitcoin, on the other hand, fell by -29%, Ethereum by -46% and Bitcoin Cash by -64%.

Reasons for the XRP price stability and consistent increase in spite of the bear market are numerous but they all boil down to the competence and experience of the Ripple team.

As a team of finance, technology and fintech veterans, Ripple has demonstrated a clear understanding that an emphasis on partnerships and customer acquisition is an invaluable way for emerging technology companies to thrive.

Ripple is consistently adding new clients. It is not just adding new clients but marquee name clients as well as banks all over the world. Moreover, many financial institutions are also using the Ripple protocol in order to transfer money from one part of the globe to another. This is the reason why Ripple is actually pretty undervalued currently. In the coming future, as it adds newer and newer clients to its structure, the Ripple will most probably be able to increase its market cap and value significantly.

Some of the resulting partnerships with financial institutions are, indeed, formidable:

American Express Banco Bilbao Vizcaya Argentaria (BBVA) Canadian Imperial Bank of Commerce (CIBC) CBW Bank Mitsubishi UFJ Financial Group (MUFG) Mizuho Financial Group (MHFG) National Australia Bank (NAB) National Bank of Abu Dhabi (NBAD) ReiseBank Royal Bank of Canada (RBC) Santander Shanghai Huarui Bank (SHRB) Siam Commercial Bank (SCB) Skandinaviska Enskilda Banken AB (SEB) UBS UniCredit Group

These partnerships and the overall business success may have caused speculators to keep their faith in XRP, which, in turn, stopped the price from declining further south, and made a solid basis for the recent growth.

Emotional component. We are witnessing FOMO effect (fear of missing out) in full force. Traders are anxious to jump this bandwagon until its too late, adding bullish momentum to the price movement even if there are no new triggers for growth.

XRP utility. Positioned as a multi-pronged solution for major financial institutions (which aren’t going away any time soon), Ripple is actually a useful product to its customers now—regardless of what it will or will not build in the future—and these customers happen to be some of the biggest financial institutions in the world. And it’s speed (4-second transactions) and low fees also make it appealing to general consumers.

From what we saw during the past few days, it can be concluded that minor surges can be caused by some positive flash news, but one such growth as XRP’s can only be a cumulative effect of hard work, successful business practice, high level of trust, and good looking future perspective.

The post Market goes one way, XRP goes the other. Why is Ripple’s token doing so good in this bear market? appeared first on CaptainAltcoin.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5034 (-0.09%)
Объем 24H $980.238m
Изменеия 24h: -0.63 %, 7d: -6.89 %
Cегодня L: $0.499 - H: $0.5081
Капитализация $27.868b Rank 7
Цена в час новости $ 0.4847 (3.86%)

market xrp goes ripple november bitcoin bear

Источник: captainaltcoin.com

market xrp → Результатов: 126


Market Sentiment For BTC, ADA, XRP, SOL Hints At an Impending Market Bounce – Here’s Why

According to blockchain intelligence firm Santiment, bearish sentiment has recently taken hold across major cryptocurrencies like Bitcoin, Ethereum, Binance Coin, XRP Ledger, Cardano, and Solana. As Santiment reported on social media: “With #crypto market caps ranging and lacking the usual growth traders have been accustomed to since the #bullcycle began in October, there is a […] The post Market Sentiment For BTC, ADA, XRP, SOL Hints At an Impending Market Bounce – Here’s Why appeared first on CaptainAltcoin.

2024-2-6 01:27


XRP, QNT, and HBAR: Navigating Lawsuits, Market Dips, and Global Forums

The release of the Hinman XRP lawsuit emails has sent ripples through the market, revealing a series of warnings ignored by Hinman that his speech could cause market confusion. This has raised questions about the transparency and fairness of market regulation, particularly in the case of Ethereum, which was seemingly given preferential treatment in Hinman’s […] The post XRP, QNT, and HBAR: Navigating Lawsuits, Market Dips, and Global Forums appeared first on CaptainAltcoin.

2023-6-14 11:40


Market Commentary: Altcoin Correlation To BTC Decreases, ETH And XRP Rise.

Bitcoin and the rest of the market is surprisingly linear today, with many altcoins registering modest gains as BTC remains range-bound. Ethereum and XRP in particular are showing strong gains.   How correlated is the crypto market? As experts debate the correlations between Bitcoin and gold versus the stock market, it’s interesting to look at […] The post Market Commentary: Altcoin Correlation To BTC Decreases, ETH And XRP Rise. appeared first on Crypto Briefing.

2019-9-18 18:42


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

What is 2020 Preparing for Cryptocurrencies?

Blockchain technology and cryptocurrencies have left us fascinated. Funnily enough, blockchain technology was once touted as a bubble bound to fail surviving the tryst of times. Not only has it survived, but finds its application in several fields of business, including the energy sector, the healthcare sector and tourism.

IOTA Use Cases Rapidly Expanding: Tangle To Solve World’s Waste Problem

The Biota team wants to use IOTA technology to tackle the waste problem. The Tangle will help develop a deposit system that rewards people for collecting plastic waste. IOTA technology for waste separation Decentralised technologies are not necessarily perceived by the public to be the best in terms of energy efficiency and CO2 emissions.

LocalBitcoins Trade Volume Hits Lowest Point Since 2017

At its highest point this year, the platform moved over USD 70,000,000 in one week. Increased personal data required by the platform could influence the decline. Bitcoin (BTC) trades through the LocalBitcoins platform have fallen to their lowest levels since August 2017.

Can The Blazing Fast EOS 2.0 Save Eos, The Token?

The crypto currency EOS is known to many crypto users as the longest ICO of all time. The EOSIO 2.0 update gives you the opportunity to take a closer look at the project and the latest changes. These are of particular interest as they make the network more powerful as well as making dApp developers’ […]The post Can The Blazing Fast EOS 2.0 Save Eos, The Token? appeared first on CaptainAltcoin.