It has bot a rather intriguing day for holders of the XRP asset. After weeks of market volatility, Ripple’s native asset is seemingly on the rebound. Very few people expect such a thing would toebijten te the near future, to say the least. Then again, the price has bot kept fairly low for finta some time now. With a 60% XRP price hop ter the past 24 hours, the entire deck has bot reshuffled. Wij may also see Ripple’s asset overtake Bitcoin Specie spil the third currency based on market cap.
One never knows what the next day will bring ter cryptocurrency, that much is overduidelijk. A loterijlot of people still despise Ripple and its native asset to this very day. Considering how the company aims to facilitate banking transactions, that isn’t entirely unexpected. However, one has to acknowledge XRP has a loterijlot of potential if used correctly. Banks aren’t coerced to use this asset, but it will make their life a bit lighter. Spil a result, wij now have an XRP price which crawled from $0.17 all the way to almost $0.29 overnight. Such large gains aren’t uncommon te the cryptocurrency world, even tho’ no one knows for sure why this stir is happening right now.
XRP Price Surge Could be a Pump-and-dump
Based on latest market trends, it’s not difficult to find a potential cause. It emerges the XRP price is driven up by the Korean exchanges. Mainly the Bithumb exchange is actively contributing to this volume right now. The company uses a zero-fee structure which makes speculating on cryptocurrency almost effortless. After all, XRP has never seen a trading volume of overheen $2bn before. Almost half of all trades come from one exchange, which indicates this could be a massive pump-and-dump scheme.
To be more specific, the Bithumb exchange has a bit of a reputation for inflating trading volumes. Overheen the past week alone, the toneel pumped Bitcoin Mortel, Monero, and now XRP. Considering how they also have Litecoin, Dash, and Ethereum Classic listed, either of those three coins can be next. None of those markets, even generate a substantial amount of trading volume right now. If things pick up te the hours to come for either of those currencies, people will know what the next pump will be. It is unfortunate the XRP price gains wij see right now, may eventually collapse again. The technology is pretty solid and institutions are taking a liking to Ripple.
Then again, the XRP price is still below its all-time high recorded ter May of . At that time, one XRP wasgoed valued at $0.33. With price gains te the double-digit percentages thesis days, literally anything can toebijten given enough time and money. It is doubtful wij will see another XRP price all-time high today, tho’, spil thesis pumps through Bithumb only last for a day ter most cases. That window is leisurely coming to an end spil wij speak. An int