With the most recent crypto-market bloodbath, Ripple’s XRP dropped to $0.2600. On August 14th that level marked the lowest this year, by which even John Bollinger commented on how these are signs for the token holders to capitulate.
$XRPUSD is down 90%… time to start looking for signs of capitulation.
— John Bollinger (@bbands) August 10, 2018
However, the team behind the network did not stay still as the announcement that Ripple signed partnerships with Bitso, Bittrex and Coins.ph hoisted the coin back to a $0.3700 marking over 40 percent gain from the lowest.
On Wednesday, Bittrex, one of the foremost exchanges in the cryptosphere, announced that it would be “rolling out more USD (trading pairs).” This news comes after the exchange’s move to begin offering fiat support, which many community members saw as a long time coming for such an influential exchange.
“We’re going to continue adding tokens to our USD markets, providing our customers even more convenient, fast and secure trading options as well as access to some of the world’s most innovative blockchain projects.”
In the post it was mentioned that traditional fiat currency pairs with XRP and ETC will be added as options for the users.
Turning back to XRP, if – as it always goes – the token moves accordingly to BTC performace, its gain will be relative to that of the leader. If we say that the pair XRP/USD reaches a mark of $0.90, it showcases a gain of above 150%. At the other hand however, BTC cannot do the a likewise gain in value in the same time span, based on its price. This can be concluded by the forecast and future expected performances that BTC might reach.
The community supporting the San Francisco based company Ripple and its solutions [including XRP, xCurrent and xRapid] through everything. They went as far as running a petition to add XRP to the leading exchange of Binance. This means they are very much proactive.
Last but not least, keeping in mind that the financial industry overall in a global-scale is built by financial institutions and banks, it will be very difficult to overcome the whole system. That is why, Ripple’s solution do target the already running engines and with XRP, xCurrent and xRapid they want money transfers on cross-border range make it way more efficient.