Open- Source Toast Wallet Shuts Down, Calls Out Ripple for ‘Abysmal Treatment’ of Developers

  • XRP developers of the Toast Wallet are calling it quits citing ‘abysmal treatment by Ripple” as the reason for leaving the project.
  • Launched in early 2017, the closure of Toast Wallet is heavily linked with the investment arm or Ripple, Xpring, looking over the wallet in its funding over the years.

The short tweet on its official page, Toast Wallet, XRP wallet that allows users to buy, sell and safely store their digital assets, will be shutting down due to the “abysmal treatment of community developers.”

As of June 22, 2020, the Toast App will no longer be available on mobile application stores denying access to additional users. The tweet reads:

The existing users’ wallets will be functional for a short time as users withdraw their assets to other wallets. The company has also given assurances to the safety of user assets.

“Existing Toast installs will continue to work, and funds are safe. We await a clear and transparent community developer support program from Xpring.”

The mention of Xpring in Toast’s tweet raises suspicion on whether the Ripple owned investment company had something to do with the wallet’s collapse. XRP Arcade, a crypto news publication, cites unnamed sources that claim the Xpring development fund did not extend to Toast, which led to its failure.

The remaining action is for users to send their XRP assets to other wallets quickly.

Send Users Xumm’s way

Toast Wallet has requested that users start migrating their assets to different XRP compatible wallets before the wallet is completely shut down.

Despite the dark cloud hovering above Toast Wallet’s open source project, Wietse Wind, one of XRP’s leading developers, took this opportunity to grab some of the users to choose his Xumm crypto wallet. After passing his graces, Wind wrote:

“I’d like to share the procedure to migrate from Toast to XUMM. I don’t want to come across as a vulture: I’m sorry to gain XUMM users this way.”

The open-source code will remain on the Toast Wallet GitHub page.

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Author: Lujan Odera

XRP Prints Bullish Golden Cross Pattern But Analyst More Concerned About Weekly Death Cross

  • XRP going for a retest is a buy the dip opportunity
  • XRP active addresses hit all-time high several times this month
  • In cross-border payment, it’s becoming increasingly hard to dislodge XRP just like Ethereum in DeFi – Ripple SVP Asheesh Birla

On Feb. 15, XRP went above $0.340, a level that was last seen in early July 2019. But as Bitcoin takes a drop, XRP went down to $0.262 again, to early February levels.

Currently, the third-largest cryptocurrency by market cap is trading at $0.264, down 4.61% in the past 24 hours. But things might turn out okay for the digital asset, yet again.

Today, XRP printed a bullish crossover, a golden cross. A golden cross technical pattern is a bullish signal where the short-term moving average crosses above a long-term moving average, which indicates that a bull market is on the horizon.

“Still going for that retest. Buy the dip opportunities rather than short entries. As long as we hold,” said trader Crypto Michael.

A Massive Breakout

However, XRP bull Magic Poop Cannon who likened the recent rise in XRP price to 2017 bull rally, now says “XRP Remains in A Downtrend.”

The digital asset is currently struggling with a rising trend line that was generated off of the peak of 2014. Present at $0.265, the analyst says a fall below this level could mean a “more dramatic selloff than expected.”

Currently, XRP has been in a falling wedge which is a bullish pattern that depends on a breakout. This breakout he said doesn’t exist yet and the fact that the crypto asset has had four clear rejections at the top of that formation, it doesn’t bode well for XRP in the short term.

Although the golden cross has been printed, Magic notes there is also a death cross on the weekly chart which is “telling a more important story.”

“Ultimately, I expect that the volatility will continue, until price is able to break out of this formation to the upside or to the downside. Either way, it will be massive.”

Hard to Dislodge XRP from cross-border remittances – Ripple SVP

Keeping aside the price, Asheesh Birla, Ripple’s senior vice president of the product said at the Goldman Sachs Technology and Internet Conference in San Francisco that it would be difficult for crypto assets and companies to outperform XRP in the cross border remittances sector. Similarly, it is hard to beat Ethereum in decentralized finance (DeFi) space, said Birla.

XRP, the digital asset powers the Ripple network in any destination where its products are live making it the “most” liquid crypto asset. And as Ripple has repeatedly emphasized, it has found its niche in cross-border payments and remittance sector and built an ecosystem.

“So in cross-border payment, I think it’s going to be increasingly hard to dislodge XRP. And with DeFi, as the ecosystem expands it will be increasingly hard to dislodge Ethereum because it’s so liquid for those use cases.”

Also, last week a leaked document revealed that the second-largest US banking institution in the US, Bank of America has joined RippleNet.

Active Addresses Hitting New Highs

While the Ripple network keeps on growing, the active addresses have also been seeing several spikes. As a matter of fact, the active addresses hit an all-time high this month.

XRP Active Addresses, Source; Coin Metrics

In early February, the record was broken for the first time when XRP active addresses hit 99.9k and then the same week, after a couple of days, it again surged to 153.3k. On Feb. 15, we jumped to 156.5k only to be outdone by 232k on Feb. 19. Currently, however, we are at 3.8k.

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Author: AnTy

Ripple Co-Founder’ Claims His XRP Sell-Off Doesn’t Impact The Market Is ‘Simply Preposterous’

  • XRP Whale and former Ripple CTO argues his huge sell offs
  • Not possible to sell off over 2% of the total supply without influencing the price, counters analyst

As we reported, an analysis by Whale Alert stated that the amount of XRP Jed McCaleb, co-founder and former CTO of Ripple and an XRP Whale is selling is “insignificant” compared to the digital asset’s total trading volume per day. Whale Alert wrote,

“because he is exclusively selling XRP, he is adding to the net amount available.”

Now, McCaleb who also co-founded Stellar Lumens (XLM) and Mt. Gox exchange has taken to point just this out that “date shows there is no impact on the market, and I don’t see any reason why that will change.” While speaking with CoinTelegraph, McCaleb said,

“I have been transparent from the beginning. The market has known for years that I have been selling my XRP at a slow, steady rate.”

“My investment decisions are not based on any desire to negatively impact other companies in this industry.”

However, as analyst Mati Greenspan notes, “It’s not possible to sell off more than 2% of the total circulating supply of a token without influencing the price at least a little.”

Even if it’s by OTC (over-the-counter) desk, Greenspan says it “still creates sell pressure,” adding,

“The claim he’s making that value extracted from the market doesn’t affect market prices is simply preposterous.”

Till now, McCaleb has dumped 1.05 billion XRP on the market between 2014 and 2019. However, there’s still 4.7 billion XRP worth over a billion dollars left with McCaleb.

More importantly, the rate at which he was selling his XRP stash has been limited by his settlement agreement with Ripple which is likely to expire sometime this year. As Ripple clarified in a statement:

“In 2016, we entered into a very structured agreement with Jed with the goal of ensuring distribution of his XRP holdings in service to a healthy, growing ecosystem without market disruption, with Ripple as custodian of Jed’s XRP holdings. This agreement remains in place today.”

Currently, XRP price is enjoying the bull rally, like much of the crypto market — though a bit late to the party — and is trading at $0.296. In 2020 so far, the digital asset jumped over 52%.

As we recently reported, popular trade AngeloBTC has predicted XRP to climb to at least $1 in 2020, a level last seen in Feb. 2019.

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Author: AnTy

XRP Kicks off the Week with a Bang, Experts Expect More Sparks Ahead

  • XRP goes from $0.194 to $0.223 but is currently in red by 1.50%
  • Binance launches XRP/USDT futures contracts with up to 75x leverage
  • Ripple partner MoneyGram’s online transactions increased by over 70%
  • Kuwait’s largest lender launches “NBK Direct Remit,” will use RippleNet
  • Experts call for more upsurge, “$589. Or I will eat my dick!” says Mati Greenspan

On January 3rd, XRP was trading at $0.185. On Jan 6, the digital asset went surging, going from $0.194 to $0.223.

This spike in XRP price was the result of Binance launching XRP/USDT futures contracts with up to 75x leverage. The digital asset is the fourth crypto asset to be added on Binance’s futures trading platform apart from BTC contracts with a leverage of up to 125x and 75x leverage on ETH and BCH contracts.

In 2019, Binance Futures registered 99,090,000,000 USDT in total trading volume, “witnessing the continuous growth of retail and institutional investors.”

MoneyGram’s Online Transactions Increased by over 70%

Another driver behind this surge has been Ripple partner MoneyGram announcing on Monday that its online transactions increased by more than 70% during the holidays on a year-over-year basis, with 80% initiated on a mobile device. MoneyGram’s redesigned app launched in late 2018 has over 1.6 million downloads.

This record-breaking online transaction growth occurred between Dec.1 and Dec.25. Outside the US, this growth has been about 120%.

“As part of our digital transformation, we’re on a mission to mobilize the movement of money,” said Alex Holmes, MoneyGram Chairman and CEO adding, “The success of our mobile app throughout the year, and especially during this holiday season, demonstrates the value consumers place not only on our user experience but also on our global distribution network.”

Kuwait’s largest lender using RippleNet for its latest Launch

The National Bank of Kuwait (NBK) has launched “NBK Direct Remit” for limited cross-border remittance for which it would be using RippleNet.

This new service will be available for customers to make live payments to Jordan and soon to other countries as well. NBK has a presence in London, Paris, New York, Geneva, Singapore, and China and regionally in Turkey, Iraq, Saudi Arabia, Bahrain, Egypt, Jordan, and UAE. Marcus Treacher, senior vice president, customer success, of Ripple said,

“NBK is an important partner in the region, and we’re excited that they have begun moving live payments across our blockchain network on behalf of their customers.”

More Upsurge Expected

After seeing the greens, today XRP price turned red, recording 1.44% losses in the past 24 hours. But crypto commentators expect more action from the digital asset.

Analyst DonAlt is betting on the XRP price to go higher, as high as $0.502.

Talking about altcoins like Bitcoin cash (BCH), Litecoin, Ethereum (ETH), and XRP, he said,

“Slow start but that’s to be expected, bulls are still battle-scarred and bears still pile on every SFP they see. I’ll give it all some time to move.”

Mati Greenspan, founder of Quantum Economics meanwhile took a jab at John McAffee who backed out on his $1 million BTC price prediction by the end of 2020 by calling for the much controversial $589 price prediction for XRP.

“$589. Or I will eat my dick!” said Greenspan.

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Author: AnTy

Poll Hints Majority Doesn’t See XRP Hitting $1 Ever, Is Ripple at Fault?

  • XRP is the second biggest loser among the top 10 cryptocurrencies of 2019
  • The digital asset to face selling pressure from Ripple and adoption issues within the network
  • XRP never hitting $1 or as soon as next year, some extremely bullish with $589 next month

The third-largest cryptocurrency XRP is down 95% from its all-time high of $3.92. And according to the majority of the voters to the Mati Greenspan, founder of investment firm Quantum Economics’ poll, the digital asset isn’t ever going to $1.

While 39.4% of the respondents out of the total 1,831 voters, till now, sees $1 “never” happening, with 37.5% votes, a close second comes 2020. So, overall it’s more of a tie between $1 never coming or happening next year.

Some crypto enthusiasts (12.6%) also see the digital asset climbing to $1 in 2027 while a few (10.5%) are extremely bullish, seeing $589 next month.

XRP Continues to Lose

The first time, XRP hit $1 was during the 2017 bull run on December 21st. But since hitting its peak in January 2018, XRP has been crashing. It is the second biggest loser among the top 10 cryptocurrencies after Stellar Lumens of 2019.

Currently, we are trading at $0.192 and went as low as $0.186 last week, which was 27-months low.

But why is the third-largest cryptocurrency dragging on so much?

According to Greenspan, “XRP tokenomics is a bit funny that way.”

What’s Behind its Poor Performance?

The former analyst at eToro pointed out two main issues with XRP’s poor performance. The first one is Ripple holds a large portion of XRP tokens and selling them into the rallies.

The company owns 60% of all the XRP ever created. Also, Ripple has sold more than $1.2 billion growth of XRP since Q4 of 2016 and the company books its XRP sales as revenues, notes Messari. Out of the $1.5 billion Ripple raised since it was founded in 2012, $1.2 billion belongs to XRP sales.

“XRP tokenomics” is to blame.

“XRP tokenomics” is to blame.

“XRP tokenomics” is to blame.

However, recently, on this, Ripple CTO David Schwartz replied,

“Nobody buys XRP to give Ripple money to do things. We were vc/angel-funded and were going to build regardless. We started selling XRP only after there was a market price and for negligible amounts compared to our other funding.”

The second issue behind the poor price performance of Ripple’s XRP token according to Greenspan is

“Usage of the network does not necessarily require XRP tokens. Banks can use Ripplenet w/o ever touching the token.”

As Ripple announced during its SWELL 2019 event, the company has now more than 300 banks and financial institutions as partners. And currently, only about 17 of them use XRP to move funds.

The market in consolidation, People returning to the King

In the long term, however, prospects he said are “quite bullish.”

But in the short term, XRP faces selling pressure from Ripple itself and adoption issues within the network.

In a separate tweet, Greenspan explained that the market is currently in a “great consolidation” period where the entire is returning to the king, Bitcoin.

“People are realizing that many of the altcoins had exaggerated valuations beyond what the projects were worth” added Greenspan.

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Author: AnTy

Ripple’s Big Plans for 2020: XRP as a Medium of Exchange & Not as a Speculative Investment

  • XRP price drops on Sept. 2017 level on Dec. 27th But seeing much development especially in Japan
  • Big banking executives went from skepticism to advocacy about digital assets
  • 2020 Ripple will be focused on new utility and use cases for XRP & new products to come

2019 is just about to come to an end. The year saw cryptocurrencies experiencing tremendous growth and first-ever working President, Donald Trump, tweeting about Bitcoin and cryptocurrencies. As Ripple CEO Brad Garlinghouse said, that moment couldn’t have been predicted.

For the third-largest cryptocurrency, price wise it has been a bad year. XRP dropped to a new low to $0.186 on Dec. 27, a level last seen in late Sept. 2017 during the bull run.

Down 95% from the all-time high, XRP is currently trading at $0.194, as per Coincodex.

2019 was a Big Year

XRP price might only be going down but the cryptocurrency is seeing much development especially in Japan.

“In Japan, almost every bank has started to work with XRP, what you may know as Ripple,” said David Jevans, CEO of CipherTrace.

Also, as Garlinghouse shared in the special holiday episode of The Ripple Drop, Ripple bagged MoneyGram in 2019 that uses the digital asset XRP to move funds. The transition from the skepticism towards digital currencies among MoneyGram executives to advocacy has been an ‘aha’ moment for Garlinghouse.

2019 saw the number of companies using XRP growing to 17 including TransferGo, Interbank, Euro Exim Bank, MoneyGram, Bitso, Bittrex, Bitstamp, FlashFX, Viamericas, Bitrue, Mercury FX, Coins.ph, goLance, Nium (formerly InstaReM), SBI Virtual Currencies, Catalyst, IDT, SendFriend, and Cuallix.

What was surprising in 2019 was how quickly people went from not caring about privacy to very concerned about how much Facebook and Google own their private data, shared Asheesh Birla, SVP of Product at Ripple.

Privacy he said became a mainstream topic of discussion in 2019 when it could have taken a lot longer.

XRP as a Medium of Exchange

Cryptocurrencies have been in existence for a few years now but they are still a speculative asset. Especially for XRP, it isn’t to fund the company either as Ripple CTO David Schwartz clarifies.

“Nobody buys XRP to give Ripple money to do things. We were vc/angel funded and were going to build regardless. We started selling XRP only after there was a market price and for negligible amounts compared to our other funding.”

However, now the company is focused on becoming a medium of exchange, “Our vision is to use digital currencies as a medium of exchange, not as a speculative investment,” said Ripple’s CEO in Brazil, Luiz Antonio Sacco.

The company is working towards expanding partnerships with Brazilian banks by 2020 as demand for cheap and instant solutions in the international remittance market grows rapidly.

In October, Ripple invested in Bitso to expand operations in Latin America with a focus on Brazil.

Now Big Things Coming for 2020

Going into 2020, the Ripple team is expecting big things.

Garlinghouse sees continued consolidation in 2020 as there is no need for 3,000 cryptocurrencies and 99% will eventually go away.

Breanne Madigan, head of the Global Institutional Markets at Ripple meanwhile is excited to build on On-Demand Liquidity (ODL) that leverages XRP.

“We here at Ripple are focused on new utility and use cases for XRP through our Xpring initiative and we are excited about new products to come in 2020,” projected Madigan.

Another thing that Ripple will focus on next year is fake volume as Madigan said, “We think about a lot in the Ripple, and we have made some noise about it is the persistence of fake volumes in the industry.”

As for, in the next decade, Ethan Beard, SVP of Xpring sees cryptocurrencies replacing the underpinnings of the infrastructure of the finance industry.

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Author: AnTy

Google Trends Reveal “Bitcoin, Not Blockchain” Defined the Crypto Market in 2019

  • XRP, Ethereum, DLT, Blockchain – All Dead against Bitcoin
  • What about the hot trends of 2019? – Crypto Staking & Crypto Lending
  • The buzzwords – Search volume for Bakkt and Bitcoin ETF falling while rising for CBDC

This year, the majority of the Bitcoin-related Google search saw a spike during the periods when the digital asset was either surging in value or falling.

Search volume for Bitcoin surged during the last week of June when BTC price rose sharply from $9,000 to $13,900. Before this, a similar spike was seen in early May when BTC went from $5,500 to just above $8,000.

Also Read: Bitcoin Turns 4,000 Days Old as Searches for “Bitcoin Halving” Rise Significantly Per Google Trends

But it wasn’t only when BTC price went up but also when it was going down. In the mid of July when the price lost over 10% of its value, interest in Bitcoin rose once again. Then in Sept., when it dropped from $10k to about $8k, the market witnessed the same trend. And the same happened in Oct. and Nov. when the price of BTC fell.

Given that both BTC’s rise and fall in price brings forth strong sentiments in the market in the form of fear and greed, it makes sense both will ignite people’s interest.

XRP, Ethereum, DLT, Blockchain – All Dead against Bitcoin

Coming onto the overall crypto market, the search term on Google Trends that defined cryptocurrency in 2019 talks about “Bitcoin, not blockchain” narrative.

When comparing the searches on the largest cryptocurrencies along with cryptocurrency, stablecoin, and blockchain, Bitcoin is a clear winner.

Bitcoin is followed by social media giant Facebook’s crypto project Libra. “Libra” might come in second place but it is affected by non-crypto related searches because even before the official announcement came this summer, the search term was at around 20-level.

In comparison to Bitcoin, all other search terms like XRP, Ethereum, DLT, blockchain, stablecoin, and cryptocurrency are practically dead. These results as Arcane Research says in its weekly newsletter, “undoubtedly show how the public is most interested in bitcoin, and strengthen the popular saying “bitcoin, not blockchain”.”

What About the Hot Trends of 2019?

Taking a look at the hot trends of 2019, we might be seeing them continuing the next year as well.

Crypto Staking has been big this year, likely to be propelled by Tezos as top crypto exchanges, Binance, Coinbase, and Kraken jumped in and announced support for XTZ baking.

As we reported, crypto commentators are expecting 2020 to be a big year for staking, especially with Ethereum 2.0 coming.

Crypto lending recorded massive growth in 2019 thanks to the explosion of Decentralized Finance (DeFi). The total collateral locked in Defi applications increased from about $240 million earlier this year to $682 million this month, according to Defi Pulse.

The leading cryptocurrency exchange Binance also launched its own crypto lending products and institutional digital asset lending firm Genesis Capital recorded a continuous surge in demand.

CBDC – Central Bank Digital Currency

Search volume for CBDC – Central Bank Digital Currency started gaining traction in the second half of the year.

The biggest development in this area has been China’s digital yuan that the officials said has been ready after five years of research. This got other countries worked up as well as they talked about considering their central bank-backed digital currency.

No one wants to be left behind as new ECB president Christine Lagarde said earlier this month, “We’d better be ahead of the curve because there is clearly demand out there that we have to respond to.”

As for other buzzwords of 2019, Bakkt for example, the interest for this search term has been lower than 25 on a 0 to 100 range that shot up to its limit around the launch of the platform. Since then it has only fallen, now at about 3.

Search volume for Bitcoin ETF saw bouts of searches throughout the year but has been on a constant decline as well.

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Author: AnTy

XRP Crashes To A New Two-Year Low But Trader Says Another 44% Drop Still A “Buy”

  • XRP price drops to $0.192 level
  • However, buy target still between $.10 to $.15
  • After 36,000% gains, it takes “a little longer than the rest to get ready for the next round”

XRP price has dropped below $0.20, going to $0.192, a level was last seen in early November 2017, just before the digital asset climbed to its all-time high.

The third-largest cryptocurrency is currently trading at $0.194, down 8.78% in the past 24 hours as per Coincodex.

This drop came on the back of BTC falling 5.50% that pushed altcoins for even a bigger drop. Other coins like Ethereum, Litecoin, BNB, Stellar Lumens, Link, and IOTA are doing worse than XRP, down 10-13%.

“Did you seriously think you could escape fate?,” is the analyst DonAlt’s response to the drop in XRP price. However, If this week closes above the green, DonAlt will “probably punt a long here.”

In the BTC market, XRP is down over 67% in the past year. However, according to trader Credible Crypto, another 44% drop from here would still be a good buy opportunity. In USD terms, it would put the digital asset at $0.15 ish. Overall, it depends on how low BTC goes.

Analyst Jacob Canfield also has the same buy target between $.10 to $.15. However, “even then I would be cautious,” he warned.

However, unlike Canfield, Credible Crypto is not concerned because it isn’t surprising that the best performing coin of 2017 bull run is lagging now as it’s “not easy to digest a 1000x move to the upside, takes time.”

With more than 36,000% gains, XRP was the best-performing asset of 2017 which gives it a pass to “take a little longer than the rest to get ready for the next round,” he said.

Moreover, the trader points out that one would still be up 3x in USD terms “had you invested in XRP over BTC prior to the last bull run, even at its current state.”

He further clarifies that it is a long term accumulation and not a trade.

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Author: AnTy

Ripple Cuts Down its XRP Sales by 73% in Q3; Inflation Rate Lower Than ETH And ETH

  • XRP inflation rate drops, now lower than that of ETH and LTC
  • Ripple customers live with on-demand liquidity (ODL) increased by 75% last quarter
  • Ripple clears FUD: XRP whales weren’t behaving any different than BTC or ETH whales

Ripple delivered on its promise to “take a more conservative approach to XRP sales in Q3” and “substantially” reduce the sales as in its Q3 report the company reported a whopping 73.7% decrease in Q3.

In comparison to Q2’s $251.51 million, in Q3 2019, total XRP sales were just about $66.24 million.

While the goal for programmatic sales for Q3 has been 10 basis points, Ripple ended below that at 8.8 bps. The fact that they pause the programmatic sales altogether contributed to that along with its focus on over-the-counter sales for a few strategic partners.

As such, its inflation rate compared to ETH and LTC dropped while equaled that of Bitcoin.

Now for Q4 as well, the company is planning to maintain a similar approach to Ripple’s XRP sales.

In this quarter, the company released 3 billion XRP but returned 2.30 to escrow.

Market Development

In Q3 the overall market capitalization of digital assets lost 30.4% while XRP price declined 35.4% Q/Q.

The daily volume of XRP decreased as well, going from $429.51 in Q2 to $198.10 million in Q3, however, it was higher than that in Q1 at $156.01 million. XRP volatility took a hit as well, reducing from 5.0% to 3.6%, beating BTC (3.9%) and ETH (4.3%).

Additionally, XRP is now listed on over 140 exchanges worldwide.

Ripple further put light on its partners, stating its customers live with on-demand liquidity (ODL) increased by 75% last quarter while dollar volume on ODL increased over five times than Q2.

Ripple Clears FUD

This time, Ripple addressed the FUD even in its quarterly report, saying last quarter saw an uptick in fear, uncertainty, doubt, and misinformation around XRP.

About the dumping XRP allegations, Ripple said large movements of XRP were actually the transfer between Ripple treasury and escrow management accounts and that XRP whales weren’t behaving any different than BTC or ETH whales.

As for the price manipulation allegations that Ripple “made XRP price fall,” in its defense, the company said it cannot control the price and that “XRP exists independently of Ripple.” It further stated that Ripple is aligned with other XRP stakeholders and is an interested party in its success, so this allegation won’t even make sense.

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Author: AnTy

XRP Continues To Expand Despite Negativity Over the Ripple Coin Price

XRP Continues To Expand Despite Negativity Over the Ripple Coin Price
  • XRP shows its strength being the best performing crypto among the top 13
  • Ripple continues to expand with new partnerships around the world

During July, XRP ahs outperform both Ethereum (ETH) and Bitcoin (BTC) in terms of the numbers of transactions processed by the network. According to data provided by BitInfoCharts, the XRP Ledger registered more than 1.1 million transactions on July 20.

Ethereum processed 584,000 transactions, followed by Bitcoin with 322,000 and Litecoin (LTC) with 28,000.

XRP Expands In The Market

There have been several critics to XRP regarding its price. Many investors and analysts say that the digital currency has been close to its support level of $0.3 that resisted very well during the last year. However, the Ripple network continues to expand with a large number of on-chain transactions.

As previously mentioned, XRP registered the largest number of transactions among the top 4 digital assets in the market throughout July.

The digital currency is also being traded around $0.325 and it has a market capitalization of $13.92 billion, according to CoinMarketCap. Although it’s price fell 1.72% in 24 hours, it has been the best performing virtual currency among the top 13.

During the same period of time, Bitcoin fell over 2%, Ethereum 3.25% and Litecoin 3%. This shows that the levels close to $0.3 are very important for the digital asset and it has helped it maintain its price over time.

Ripple has also been expanding with different partnerships. For example, MoneyGram, a firm that works with Ripple, has signed a new agreement with Sentbe, one of the largest companies for money transfer services in South Korea. At the same time, Sentbe showed they were working with Ripple.

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Author: Carl T