XRP Price Surged By Over 5% After American Express Mentioned XRP In A Blog Post But What Does This Mean?

Ripple news today – The trending Ripple news for today is that XRP had a surge in price after a misleading announcement on Twitter yesterday morning by an American Express blog post. The blog post mentioned Ripple in the context of an international settlement as well as XRP. What does the post mean?

XRP News Today – XRP Price Prediction 2019 – Ripple News Today – American Express Causes Fomo

XRP price prediction has been on a downward spiral for quite some time now and is currently plateaued at around $0.37 right now. However, yesterday, shortly following the AMEX announcement the price of Ripple (XRP) skyrocketed and leaped as high as $0.41. Although it is not clear whether the surge in the price of XRP is exclusive because of the AMEX announcement, the close correlation between the timing of both events suggests that they are interrelated events.

The title of the blog post that AMEX had put out was “Cross-Border Payments to Become Faster, More Transparent, and Easier to Manage.” The blog post had made references to Ripple as well as to XRP, and people who were following the cryptocurrency trend online had instantly gone wild with excitement.

The excitement had a lot of crypto analysts commenting on the price of Ripple and XRP, the general trajectory Ripple and XRP have been taking so far, and what the announcement might have meant for the future of both Ripple and XRP.

Although this announcement caused considerable excitement, it is useful to note that the AMEX blog is actually not an official channel for the company itself, and the blog post did not in any way mean that it was officially backing Ripple or XRP. The AMEX blog is actually a platform on which various bloggers and writers on several banking related topics can get published, and so articles published on it are hardly accurate reflections of the bank’s stance on any particular issue.

The online excitement, however, began to quell very quickly when one particularly observant Twitter user pointed out that the blog post in question was not a recent one but was written in September of last year. While the excitement has died down, it has also served to highlight the widespread interest that cryptocurrency such as XRP still generates on a wide scale across the globe.

Ripple News Today – XRP Latest Update – Consequences Of Sudden Price Movements

It is left to see if XRP price can maintain this sudden upward trajectory, especially since XRP has been on a downward spiral with no sign of recovery for the longest time. The first half of 2019 especially has seen XRP being outperformed in leaps and bounds by other cryptocurrencies such as Binance coin which has had its opening price skyrocket over 424% since January 1st, this is compared to XRP’s meager 12% gains in price since January 1st. Although full of potential, XRP is going to have to start showing that it can compete favorably with the other coins out there soon or risk fading away completely.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.334621
3.71%

AMEX, of course, is a member of RippleNet which is a global payments network that leverages on the latest, and most advanced blockchain technology, and a network of over 200 banks as well as providers of payments solutions worldwide to provide global payment solutions to businesses in real time and on the go.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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