XRP price is currently having a slight correction at $0.332 but a number of developments viz. market expansion in terms of exchange listings, and RippleNet connecting small and medium enterprises and corporates while gaining another small victory in a court case show a growing picture.
XRP price experiencing resistance at $0.3400
The world’s 3rd largest cryptocurrency is currently experiencing a small correction in tandem with the entire crypto market. With a good start of this week, XRP gets to see the $0.356 going for a huge breakout. But, the bulls have taken a backseat as Bitcoin took a slide down.
At the time of writing, XRP has been changing hands at $0332 with 24-hours loss of 0.52 percent while moving constantly up and down as shown in the chart below.
Yesterday, XRP broke the bullish trend as it lost the support at $0.3405. From both USD and BTC, XRP is feeling the pressure and now $0.3400 has become a resistance to what previously has been the support.
But, XRP market expansion rise with 2 new listings
The latest exchange to add support for XRP is AlteumX. A Mexican exchange, AlteumX has introduced 3 trading pairs for XRP viz. XRP/BTC, XRP/ETH, and XRP/MXN.
— Alteum (@Alteum_Official) August 30, 2018
XRP is making its way to the Mexican market as an XRP enthusiast comments, Mexico has now at least 3 exchanges with XRP/MXN pairs. Bitso, Volabit, Alteum.”
Moreover, Coinfield, a Canadian exchange that has XRP listed will be expanding to European, Asian & Latin American markets in September. This will be done by adding four new fiat currencies, the Euro (EUR), British pound sterling (GBP), Japanese yen (JPY), and the United Arab Emirates Dirham (AED).
CoinField will be offering additional fiat pairs as part of its expansion to Europe, Asian & LatinAmerica. Besides the current fiat pairs of CAD and USD, starting September they will offer EUR, GBP, JPY and AED pairs for all coins, including $XRP. #XRPcommunity #XRPthestandard https://t.co/vI7691QCMH
— Leonidas (@LeoHadjiloizou) August 30, 2018
Recently, Swaplab.cc exchange also added XRP allowing the exchange of XRP for over 50 cryptocurrencies available on its platform.
Ripple $XRP is now listed on @swaplab_cc cryptocurrency exchange. You can exchange $XRP with 50+ cryptocurrencies. Visa/Mastercard purchases are coming in October @Ripple @Ripple_XRP1 @XRPtheone @XRPHODLER #xrp #ripple #swaplabcc #cryptocurrency #exchange pic.twitter.com/xC2bVuCHEP
— SWAPLAB.CC (@swaplab_cc) August 28, 2018
Small & Medium Enterprises Using RippleNet, Corporates on the Way Too
In the most recent, Youtube video of Ripple shows, “Small and Medium Enterprise Payments Using RippleNet.”
The crypto community is surely excited as one Redditor comment,
“A lot of blockchain development groups are wanting companies like Ripple to push their chain to the front. Ripple is going to push all of the cryptos into mainstream adoption with how they are building an ecosystem with XRP.”
An XRP enthusiast also shared a previously released video titling, “Ripple will connect corporates to RippleNet starting Q3 2018.”
— C3|Nik (@C3_Nik) August 30, 2018
Another small victory in the court case
Ripple has been sued by a number of parties claiming XRP is a security token and demanding compensation for their loss. Just last week, the lawsuit filed by investor Ryan Coffey has been rejected and then voluntarily dismissed by the investor.
According to the latest developments, the Court Case filed by investor David Oconer has been designated as complex litigation that will be coordinated with the remaining ones.
However, Oconer case is now assigned to Judge Marie Weiner, who Ripple moved from presiding over the Zakinov case. It is yet to be seen if Ripple will again have the judge disqualified.
Though XRP took a hit because of the expulsion from the Morgan Creek Index Fund, overall, XRP is making a lot of developments in the market.
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Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]coingape.com