- Ripple XRP Surged By More Than 7% Yesterday Crossing the $0.2000 Level for the first time in more than a month
- The price of the XRP token may have reached a bottom hence the surge
- The price surge came right after Ripple executive announced that their new payment corridor is now live in Europe
Ripple News Today – Ripple XRP finally started moving higher against the USD after weeks of steady decline. In less than 48 hours, the token moved from the $0.1700 level to $0.2000 for the first time in months. There are currently two theories that explain the price action of the token. Some XRP analysts believe that the token is rising because it has finally bottomed out while some others believe that the token is rising because the XRP on-demand liquidity corridor in Europe has gone live. In any case, the rise above $0.2000 is a welcome development that has brought a spark of hope to the XRP community.
Ripple News Today – XRP Surges by More Than 7%, Will Higher Highs Come?
Yesterday, Marcus Treacher, Ripple’s Vice-President of customer success talked about the progress Ripple is making despite the Covid-19 pandemic. He also announced that a new XRP remittance platform has been launched in Europe. According to Treacher, Ripple’s customers are financial institutions and they play a key role in cross-border payments. He said that remittance is still a key source of income in many countries.
XRP (XRP) Price Today – XRP / USD
In the wake of the COVID-19 pandemic, the global financial sector has suffered a blow. At the same time, it has paved a way for Ripple on-demand liquidity service to gain more traction. Even though people are losing jobs, the demand for remittance is still on the rise. Marcus said that Ripple is already working on banks to cut transfer fees significantly and speed up cross-border transfers. Most of Ripple’s partners service developing markets.
It doesn’t matter if the price of XRP has bottomed out or the price is rising because of the increase in demand for Ripple’s on-demand liquidity service. The surge in the price of XRP is great. Investors are now waiting to see if the price will keep rising or it’s going to correct lower near-term. At the time of writing, the price of the token was $0.203459. It is up by 2.46% against the USD and up by 1.35% against Bitcoin BTC. The trading volume over a 24 hour period is $1,703,947,228 and the market capitalization is $9,004,658,531.