Ripple XRP which seems to have been on the hold since is now breaking out of the resistance against the dollar. Formerly at $0.2850, it’s now traded above $0.3 at press time and is likely to continue. XRP is one of the first cryptos yesterday to break out of the hold of the bearish market, resisting against the dollar.
There are serious indications that XRP could do better than other cryptos after the vestige of the bearish market. Ripple has gained more partnership by signing on so many banks and other financial institutions on its network. This reveals Ripple’s zeal to pursue the purpose of institutional adoption as proposed by the CEO, Brad Garlinghouse.
According to a report by CNBC, Ripple CEO said he expects dozens of banks to join the network before 2019;
“I’ve publicly stated that by the end of this year I have every confidence that major banks will use XRapid as a liquidity tool,” Garlinghouse told CNBC in an interview at the Money 20/20 Europe fintech conference in Amsterdam, Netherland, that aired on TV on Tuesday.”
Bitcoin may be a leading cryptocurrency, but Ripple’s XRP has very good potentials to beat the number one digital asset in the nearest future. Bitcoin doesn’t seem to have much control over the blockchain technology, but Ripple XRP is linked to some blockchain-based decentralized tools like xRapid which increases its usability.
Ripple’s decentralized financial tools, which are linked to work in handy with XRP, positions the token to be used by many institutions that are of interest on the Ripple platform. This paves way for the XRP to ride higher.