Ripple XRP has climbed around 110% in the last week in an unexpected rally.
The price began to climb after news broke on 17 September that Ripple’s xRapid service will be launched within the next month or so (read more here).
The announcement was quickly followed by more positive news from the Coil project, led by the former CTO of Ripple, Stefan Thomas. The announcement from Coil was that their monetisation app would allow micropayments in XRP for content creators. The aim is to allow creators on platforms such as YouTube and Wikipedia to earn tips by way of XRP.
The week of positive news caused XRP’s price to jump extremely fast which appears to have attracted more investors due to a ‘Fear of Missing Out.’ This caused an even bigger spike.
Will XRP CONTINUE TO CLIMB?
As always with Crypto, and especially since the turn of the year, it is difficult to predict price movements. I do however believe that in order for XRP to continue its bullish trend, it will need to show some real utility. The rumours and news of potential Banks using xRapid have pushed prices up but if xRapid launches without any big Banks/Institutions using it then we will see prices fall once again; on the flip side if they do begin to use xRapid then we could see further huge price rises.
The latest news has certainly changed people’s opinions on XRP. The sentiment has quickly changed to positive after months of negativity and bashing from many in the crypto community who believed XRP was fading away. Ripple have done a great job recently to change the views of people.
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