Ripple's XRP Showing Signs Of Outperforming It's 2017 All-Time High Before End Of Year
Back in 2017 when the cryptocurrency market was booming, Ripple's XRP reached an all-time high of $ 3.84. Since then the altcoin has not been able to hit quite as good numbers like those. Since then it has been downhill with the asset losing more than 80% of its value by the end of 2018. The digital asset like most cryptocurrencies has had a relatively good 2019. Although XRP has been slow in its approach compared to other assets, it continues to rise. In 2019, XRP has set a year high of $0.50. Although still a long way from its all-time high, several reasons have many believing it will reach and surpass 2017 highs.
In 2019, we have seen Ripple ramp-up their effort in the development of XRP and its corresponding products. Some of these have gone unnoticed but they are not to be dismissed. In the months to come, they will play an important role in the success of XRP.
MoneyGram And Ripple Partnership
A few weeks ago, Ripple and MoneyGram partnered to work together. The partnership reportedly cost Ripple around $50 million. This partnership is now paying just weeks after. The international money transfer company has announced that it will be transacting on the Ripple xRapid platform. This makes XRP the base currency for the company and XRP the first accepted cryptocurrency around the world. This means worldwide adoption. In the months to come, this will see demand for XRP shoot up and prices steadily increase.
XRP Payments Have Doubles In The Last Few Months
Recent data shows that XRP payments have doubled since May. This is consistent with the 2017 trend but even more consistent due to recent adoption. This is also backed by recent daily trading volume which has been as high as back in 2017. This metrics indicate growth from the last couple of months and signal a bullish case for XRP.
The market has been bullish for the last few months and XRP has been steadily climbing. Although XRP has not always been as aggressive as other altcoins, this has also played in its favor during catastrophic corrections. In fact, XRP has been identified as a great diversifier from Bitcoin.
If XRP's recent growth pans out in the months left to the end of the year, the digital asset could be set for a return to all-time highs.
About The Author
John KiguruJohn is an exceptional writer with a liking on technology, finance and the intersection of the two. A firm believer in the transformative potential of cryptocurrencies and the blockchain. When he is not writing, he likes to listen to Nas, Eminem and The Beatles.
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