XRP, the third-largest cryptocurrency by market cap is warming up for a major spike in price as some members of the crypto space have opined. An instance of this is, Nicklaus, a crypto enthusiast who said in a tweet on August 3, 2019, that a lot of metrics surrounding XRP are similar to that of 2017’s bull run when the crypto asset hit $3.84.
XRP Payments Have Doubled Since May
According to Nicklaus, the charts are currently showing that XRP payments doubled since May this year. In the same vein, a good number of metrics which are currently being hit are quite similar to the metrics that were evident in 2017’s bull run. It’s even better because these metrics are even more consistent than 2017 which could hold something even more promising.
A closer look at the platform referenced in Nicklaus’ tweet shows that as of press time, the 24-hour trading volume of XRP on cryptocurrency exchanges is about $1.2 billion. Specifically, Hitbtc has accounted for 21.01% of these trades today. Other exchanges that come in the top are Zb, Binance, Okex, and Huobi at 11.31%, 18.44%, 13.45%, and 7.51% respectively.
XRP Trades Lower Than Opening Price at the Start of the Year
XRP, on the other hand, is priced at $0.3218 as at press time and it has a market capitalization of $14 billion. Its price today shows it has gained 3.88 percent in the past 24 hours which is not so significant given that it has traded around the $0.31 and $0.32 levels for the past few days.
It’s also worthy to note that XRP’s price today is less than its opening price of 0.352512 on January 1, 2019, which goes contrary to Bitcoin’s increment in price from the start of the year.
Nonetheless, the bullish sentiment in the crypto space about XRP could make one stop, think, and wonder if a storm is actually coming. Like Nicklaus, Sir Gordon Gekko, CEO of Sir Gekko Capital Holdings stated on August 2, 2019, that it could turn out to be a great weekend for BTC and XRP because the $BTC 4-hour golden cross has broken out of the triangle.
Ripple’s and MoneyGram’s Partnership
In the same vein, MoneyGram’s partnership with Ripple in a $50 million deal seems to have taken shape. As we reported on August 3, 2019, MoneyGram is now live and transacting on the Ripple’s xRapid platform. Alex Holmes, CEO of MoneyGram reportedly said:
“I am so excited to announce today that the Moneygram is now live and transacting on the Ripple xRapid platform. We are literally settling currencies in seconds.”
A deal of this nature and Ripple’s partnership with over 200 firms have given people the impression that possibly, XRP will become the first cryptocurrency to be accepted worldwide for cross border payments. Also, this high level of adoption could surge XRP’s price and even above its all-time high.