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Are We Experiencing a Ripple Rally? Price Indicates Yes

24 September 2018

XRP (CURRENCY:XRP) traded 1.1% higher against the dollar during the 1-day period ending at 21:00 PM E.T. on September 19th.

A UTC close above the confluence of the 50-day moving average and the top end of the falling channel, now located at $0.3282, would confirm a bearish-to-bullish trend change and could yield further gains.

This happened on Friday when Ripple gained more than 70 percent of the market capitalization in a matter of just 24 hours. But even then, the success was short-lived. The bank will also only accept inbound transactions to start. Within a few minutes, ETH shot up from around $230 to $250.

XRP pushes past ETH for now. Investors seeking to trade XRP should first buy Bitcoin or Ethereum using an exchange that deals in USA dollars such as Changelly, Coinbase or Gemini. Bitcoin dominance is down a bit today, now at 51.7%. This leaves many speculating that XRP enthusiasts may indeed be right about XRP becoming the No. 1 coin.

Ripple's website describes xRapid as a product for payment providers and other financial institutions who wish to minimize liquidity costs and also improve their customer experience.

The bank's Treasury Management division will begin accepting cross-border transactions using the firm's xCurrent product, Ripple's senior vice president, Asheesh Birla, told CoinDesk Wednesday.

Ripple foundation had some major setback in the terms of negative news regarding the nature of XRP where a great part of the crypto community was convinced that XRP is actually security with centralized governance.

Ripple is also gearing up for the launch of its popular product called xRapid, and the launch will take place as soon as the next month, according to Sagar Sarbhai, the Head of Government & Regulatory Relations, APAC & Middle East at Ripple. Last year's bull-run raised cryptocurrency's profile around the world to a feverish pitch. In addition, there has always been a very controversial theory that has become very topical in recent days suggesting that XRP could rise to $589 if it replaces the current SWIFT standard.

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Ripple Labs Inc.'s plans for using a digital coin that have outpouring optimistic surroundings yet since January lifting peers had to devaluate more than $600 billion.

We would like to explore this mathematical experiment briefly.

As CryptoGlobe reported, the XRP token, which is issued by the Ripple company, surged 40% on September 21st, however, Twitter users warned investors that there may be "huge dump" that could follow the token's dramatic price increase.

Bitcoin (BTC) is still ranked number one, with a market cap of around $116 billion.

On the flip side, BitBull Capital chief executive officer Joe DiPasquale recently criticized XRP's ongoing rise as simply a news-based price play that wasn't built on underlying "commitments".

At present there is no indication why Ether has responded to the XRP price move with its own forceful rebound.

Find out when XRP reaches critical levels.

Are We Experiencing a Ripple Rally? Price Indicates Yes