One thing that can be said regarding Ripple in the crypto market is that the digital currency has maintained its own in terms of stability in the market. As the two leading and most valuable digital currencies, Bitcoin and Ethereum, have experienced some days of significant volatility, Ripple generally does not follow the same trend.
The Trading Range of Ripple
Examining the three months chart of the cryptocurrency, the value of trade has just been in the range of $0.47 and $1.20. This is far less volatile compared to other digital currencies. Presently, the trading value of Ripple is $0.90.
How Is Ripple Slowly But Steadily Moving To The Top?
First of all, the liquidity of Ripple is increasing as its being listed on more crypto exchange platforms, and the most recent platform it was listed on is UpHold. The crypto trading platform features a digital wallet with credit, debit, and automated clearing-house capability. The platform lets participants trade Ripple with thirty-four different currencies, digital assets, and commodities.
Just about 24 hours ago, Binance (a popular digital currency exchange platform) announced that it will start offering XRP/USDT paring. This also increases the liquidity of Ripple. Secondly, there is a much anticipated digital currency trading platform known as SBI Holdings (Japanese Banking conglomerate). The platform is scheduled to be released this summer, and Yoshitaka Kitao (the CEO of the company) said that the exchange platform shall be “number one” when released.
Thirdly, the cryptocurrency has been gathering banking partnerships every week, if not every day. The news was still trending regarding Santander’s remitting service launch known as One Pay FX that utilizes the xCurrent of Ripple, when there was another trending story of Ripple partnering with BankDhofar.
Ripple has partnered with a lot of banks, and the total number of banks they have partnered with is almost 200, but they have not announced the exact figure yet.