XRP has been surging over 10% leaving the top altcoins and Bitcoin behind amidst positive news of targeting China and getting full support from Exodus. Meanwhile, the rumor mill over XRP as the base currency on Binance is going strong while speculations over XRP price being manipulated to $0.25 also comes into the light.
XRP enjoying substantial gains
After struggling at about $0.26 level, XRP managed to rise well above $0.30. Since bulls first entered the crypto market a few days back, the entire crypto market has been enjoying the greenery. However, XRP has been one of the very few top altcoins that surged at a substantial level.
Yesterday, XRP has been up by about 14 percent at one point while going till $0.32. Today, the world’s 3rd largest cryptocurrency climbed $0.372 while being up by 10 percent. However, it is constantly moving up and down while maintaining its stance above $0.30 mark and being in the greens.
XRP now available on the exodus
A number of good news came into the form of Ripple, the company behind XRP planning to enter the Chinese market and Mercury FX revealing its plans to test cross-border payments in China and Mexico with Ripple.
Also, Yesterday, Exodus wallet announced its new version that supports XRP which has the community excited.
Exodus version 1.58.0 has arrived. We’re excited to announce @Ripple (XRP) and TrueUSD (TUSD) are now available for exchange in our latest release. $XRP $TUSD #ripple @TrustToken https://t.co/vs70GDEpr9
— Exodus (@exodus_io) August 17, 2018
— PandaRippleXRP🐼 (@RipplePandaXRP) August 17, 2018
To which a Twitter user asked,
“Do they have 20 XRP minimum deposit requirement?”, Receiving the response, “All XRP wallet will need a 20 XRP reserve, and it might reduce when the price goes up in future.”
“U mean now I can get another 20 xrp stuck,” apparently this is a concerning point among the XRP community.
Rumor mills are going strong as does price manipulation speculation
A couple of days back, the XRP-Binance connection further came into the limelight as Binance CEO Changpeng Zhao, Michael Arrington of Arrington XRP Capital, and Senior Vice President of Ripple Ethan Beard came together.
With the XRP community appealing Binance to add XRP as the base currency on the Binance exchange, this meeting further fueled the expectations of the people and the likelihood of this becoming a reality.
On the price front, as XRP price took a serious hit in the past month, dropping from $0.510 to $0.25, the Reddit community speculated a manipulation might be in the mix here.
One Redditor crunch112 shared,
“So there has been a post that at the moment when XRP price was falling there was huge activity on new Chinese domain ZB.com. Right after the price stopped dropping so did the volume drop on the said exchange.
It is connected to QCash cryptocurrency and XRP/ZB trading pair accounted for 20% more volume during the dips. Domain owner is not public but hidden by Godaddy service. It is known that Chinese investor bought it. Their website is down now.”
Another Redditor shared,
“I’ve been watching this page since December and actually had some questions/concerns about the price manipulation of XRP. During the last week of crypto carnage, I couldn’t help but notice the extremely high volume that comes from ZB.com. Does China just have a hold on the price of XRP and how high the price goes/how low the price goes?
Clearly, they can push the price all the way down to $.25. I’m just trying to understand the correlation between the two. It seems coincidental that when the price is dropping it all stems from ZB.com.”
According to Coinmarketcap, ZB.com is at 5th rank with a $392 million 24 hour trading volume. As for XRP part, it trades only about $4.2 million against USDT and BTC pairs.
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.