- XRP Went Up by 30% in September As Bitcoin Flatlined
It will appear that the crypto rivalry is up again. The long-standing competition between BTC and XRP seems to be in favor of Ripple’s XRP at the moment. XRP, which is one of Bitcoin’s oldest rivals endured many tough times in the industry since its launch in 2012, with the situation turning critical earlier in the year. This was when XRP was named the worse performing coin. Now it went up by 30% last month.
XRP is up by 30% in September After Recording Price Drop for Most of the Year
After an uneven period when it fell steadily, XRP is up by 30% since the last week of September. Now Ripple is working to ensure that the price of XRP climbs higher. On October 20, Ripple revealed that it sold XRP worth $66 million in the second to last quarter of 2019. Ripple faced criticism at the end of the last quarter after releasing record XRP sales, with experts accusing the network of dumping XRP in the market, which caused the price of the coin to plummet.
The report adds that Ripple denied any suggestions of price manipulation, citing an “uptick in the issue of FUD (fear, uncertainty, and doubt) along with the spread of misinformation or false data about XRP,” as the reason behind the accusations. Earlier in the week, ahead of next month’s Swell conference, Ripple chief Brad Garlinghouse has been talking about the company and XRP. The Swell conference is one of the biggest events in XRP’s calendar. During the occasion Ripple usually makes big announcements.
XRP (XRP) Price Today – XRP / USD
According to Garlinghouse XRP is roughly 1,000 times quicker than Bitcoin when processing transactions. It is also 1,000 times cheaper per transactions than bitcoin he added in an interview on the Off The Chain podcast with Bitcoin and crypto VC (venture capitalist) Anthony Pompliano. XRP is a good example of a crypto and Blockchain network being used at scale, Garlinghouse said.
During last year’s Swell conference, Ripple introduced xRapid. xRapid is a payments network that is designed to use XRP to ensure that payments are faster and cheaper for financial institutions. Meanwhile, Garlinghouse also boasted about the amount of cash Ripple has and the company’s pace when it comes to deal-making. “Ripple is signing two or three deals every week with financial institutions. The company is sitting on $305 million,” Garlinghouse bragged last week.
Garlinghouse slammed Facebook’s crypto project, libra. Facebook has provoked global regulators and lawmakers with its proposed Libra Association.