XRP market performance has a bit slowed down as the digital asset struggles to maintain its market standard. Performances were better last month with the decentralized financial tools released by the Ripple platform into the market.
The success of their financial tools like xRapid real-time platform and xCurrent payment solution has Ripple in the success over a period of time. The digital asset XRP was almost on the verge of taking over the second position from ethereum amidst cheers and joyful reactions from enthusiasts.
Ripple XRP took the lead in market performance last month, moving up to $0.80 on September 21, 2018. This represents about 225% increase and low of $0.24646 on August 14, 2018.
In October, XRP price per dollar went as low as $0.3 and this waned all the interest and focuses on this digital asset. All the aggression died down as XRP price went down, now it is struggling to rise up again.
After the recently concluded Ripple’s Swell conference in San Francisco, it was assumed there would be a rise in price because a lot of awareness has been created. Banks and other financial institutions are expected to key into the decentralized financial tools offered by Ripple, which will, in turn, increase the price.
“Ripple’s Swell conference in San Francisco boasted star speakers including U.S. economist and Barak Obama advisor Gene Sperling, former U.S. president Bill Clinton, a performance by rockers Counting Crows, as well as Ripple Labs dropping the big news it’s signed up three companies to its new xRapid service, allowing them to use the cryptocurrency XRP to carry out international transactions in “a matter of minutes.”
According to a report from Forbes, there was a “tease suggestion” about the impact which would be made on this digital token, this speculation brought about the rise in the price of XRP in the month of September.
“It was the teased suggestion last month that banks and financial services companies would soon begin using ripple, the informal name of the digital token XRP, to move money across borders that fueled ripple’s over 100% rise in September — but now that has begun to happen it seems to have failed to live up to people’s expectations.”
Now that the bubble has cleared, it has not been rosy for the crypto, which is now finding it hard to rise back to its former performance level, or even close to where it was in the month of September.