XRP price has not impressed investors in recent times. One recent report even revealed that XRP was the worst performing top 10 coin in the first quarter of the year. Despite the efforts of its parent company, Ripple, there hasn’t been much progress with XRP price. On Sunday, something changed this status and XRP price suddenly began to surge.
XRP (XRP) Price Today – XRP / USD
American Express’ XRP Related Blog Post May Have Caused the Surge
The token incurred some upward movement today when FOMO spread on social media. A Twitter user posted a blog post which mentioned the usage of Ripple for international settlements for American Express. However, the blog post is old and was not released by AMEX as an official statement.
When such news of a possible collaboration between XRP and AMEX, XRP price surged. Today, it surged again after the news made rounds on the web. The token surged independently of the crypto market as a whole. Traders should apply caution at this point.
XRP Price Prediction 2019: XRP Crosses the $0.40 Resistance Level Despite the Downward Pressure It Faced
XRP saw a 6% rise at press time and is presently trading at $0.40. it is a breath of fresh air to see after it touched a recent low of $0.37.
The surge occurred earlier in the day when it crossed $0.38 and it happened when the market was trading sideways. BTC was also flat at the time it occurred.
There is no way to ascertain whether the blog post was responsible for the surge. However, it is a likely cause because of the timing of the post.
An XRP enthusiast was one of the early proponents of the blog post on Twitter. Michael B, as he is known, shared excerpts from the post and this created a buzz.
No Collaboration Between AMEX and XRP
Even though some FOMO was generated from this post, the information in the blog post does not mean there would be a collaboration between AMEX and XRP. The company is also not endorsing any of Ripple’s products.
AMEX has not released any official statements that suggest that it is endorsing XRP or the likes. The blog in question allows other writers to publish opinions on banking and finance. Also, the post was also made in September 2018.
However, American Express is a RippleNet member and it is aimed at offering real-time global payments between businesses to ensure that the customers have a great experience.
XRP Price Prediction 2019: Will XRP Ever Go Up?
It is not clear whether the surge of XRP price today is tied to the misplaced FOMO from an old and unofficial blog post. But a look at the price in the short term would determine the cause.
Will XRP recover in the long term? The performance of the token has not been impressive. Ripple is collaborating with more financial institutions to increase adoption, but it needs to work harder so the efforts can reflect in the coin’s price.