XRP was on the rise for the first time in months and started climbing.
Ripple, the fourth largest cryptocurrency by total market value, started to exhibit a serious rally today and officially ended its stagnation for months. Seeing the $ 0.20 level for the first time since June 11, this rise of XRP shows that the downward trend is also largely over or temporarily interrupted.
The XRP / USD trading pair, which fell below the $ 0.17 level on June 28, started to worry investors would fall much more, but the situation has changed now and it seems that FOMO has replaced the fear.
Ripple, the blockchain company behind XRP, has made serious initiatives and initiatives especially in Brazil in recent months. Trying to take over the remittance market in Latin America, Ripple is thought to have increased the price of XRP in return for these efforts.
Ripple Initiatives Work
Marple Delatinne, the head of the global banking division of Ripple, said in a statement on the subject that their main goal as a company is to enter the remittance market in exotic locations. Experienced in Brazil, which has been on the radar for a long time, has shown that growth will continue.
XRP has been going through some pretty bad times since the beginning of 2020, and the 9% rise wounds seen at the moment can help heal a bit.