Ripple is one of the steadiest cryptocurrency in the market that is currently riding at $0.8 and is expected to hit $1 soon while hitting its highest volume quarter in history. Through various collaborations and listings, Ripple is on the way to its target to become the leading payment system and solution. As XRP price moves higher investors and partners like SBI Holdings’ CEO Yoshitaka Kitao expects it to hit $10 before the year ends.
XRP market share doubles & volume rises to its highest at $160B
According to the coinmarketcap, Ripple is the third leading cryptocurrency with a market cap of $31,710,616,940. Lately, this cryptocurrency has been on a promising run while fueling its prices and confidence in the crypto market.
Since past two weeks, Ripple has been performing really good, more so than its competitors like Bitcoin and Ethereum. A few days ago, XRP was its highest of the month at $0.91 recovering from its four-month low at $0.47 on April 6. This surge regained the investors’ interest where the steady fall in price only led to a follow up of investment.
With listings on Uphold and Abra, XRP is now tradable on about 60 exchanges that offer added liquidity further fueling Ripple’s market value.
In “Q1 2018 XRP Market Report” published by Ripple, it states that “XRP had its highest volume quarter in history, with a total of $160.0 billion notional traded.” The report further points out that the market share of XRP price doubled in the first quarter.
Ripple has always been clear of its aim which is to become the most preferred payment solution used globally. Through banks and financial institutions that lack transparency, speed, and cost-efficiency, Ripple is emerging as a potential solution.
The secret of Ripple’s success: Partnerships with big players
Since its inception, Ripple entered into some major partnerships through payment solutions and systems. Talking about the recent ones, at the beginning of this month, one of the best things to happen to Ripple was ApplyPay that hinted at integrating the interledger protocol of Ripple. Though there isn’t much clarity on this, if it would happen, XRP price would simply skyrocket.
Earlier this month, based on Ripple blockchain, Santander launched OnePayFX, a cross-payments app that is currently live in the UK, Poland, Brazil, and Spain. Recently, the UK-based, Revolut, a global banking alternative announced that it will soon add Ripple to its financial transaction app.
Tokyo-based SBI Holdings has been a successful collaboration for Ripple which acts as a bull for this cryptocurrency. Last year, SBI Holdings’ Yoshitaka Kitao said Ripple’s technology makes it a credible option for many financial companies. Kitao has always been in favor of Ripple and continuously encourages and talks positively about this technology.
Will XRP price moon in the near future?
Currently, Ripple is at $0.806331 while going through a dip of about 2 percent along with other cryptocurrencies like Bitcoin, Litecoin, Dash, and NEO. However, traders and holders alike have immense faith in Ripple and believe it to hit $1 soon.
Yoshitaka Kitao expects the XRP value to reach $10 by the end of this year who believes the acceptance of cryptocurrency and transformation of the market through ripple blockchain will further drive XRP’s success.
Moreover, Ripple community is further geared up over Snoop Dogg coming for a live performance at the “Blockchain Week” event that is to be held by Ripple. Overall, Ripple is going with a good pace with a number of big partnerships to its name that can boost its prices. We just need to wait and keep an eye on the XRP price!
Do you think XRP price will soon hit $1 and then move on to ascend towards $10?
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A computer science engineer, I have been adamantly following the blockchain and cryptocurrency industry for the past 2 years. A crypto enthusiast and hardcore blockchain follower. Reach out to him at [email protected]