Bank

XRP entered the top 10 for altcoin profitability

Navigation

4 Best Altcoins To Buy now Instead of XRP Price Prediction to .10 – UNISWAP πŸ¦„πŸ”₯

XRP entered the top 10 for altcoin profitability

XRP entered the top 10 for altcoin profitability
CONTENT

  • XRP began to give signals of recovery, entering the top ten assets in terms of daily profitability

  • Ripple is still trying to deal with class action lawsuits

  • The company does not seem to be too worried about the growth of the asset, constantly pouring out large amounts of XRP

International consortium of news organizations developing transparency standards.

One of the most controversial altcoins is showing signs of life for the first time and has already become the leader in terms of payback

XRP entered the top 10 for altcoin profitability

Altcoin XRP (XRP), long considered an outsider in the virtual asset market, showed stable growth for the first time since May.

Starting in July, TokenAs the use of cryptocurrencies increases, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More XRP is up almost 35% and is trading at $ 0.26 at the time of writing (+ 7.35% per day gain), making it one of the top ten assets in terms of profitability, according to CoinMarketCap.

In addition to the fact that the altcoin season is on its way, XRP growth is due to positive news about the effective effectiveness of Ripple’s cooperation with MoneyGram.

Renowned financial company MoneyGram reported Ripple payments of $ 15.1 million in Q2 of this year as liquidity on demand (ODL).

Judicial barriers

XRP entered the top 10 for altcoin profitability

MoneyGram is actively using Ripple’s xRapid service for cross-border payments, which means the Californian fintech company’s products are effective for traditional financial markets..

However, the protracted bullish XRP trend may end before it even starts. Ripple is still drowning in class-action lawsuits, in which the company is accused of false statements and unfair competition.

Join our telegram channel to keep abreast of the main trends in the crypto market.

Despite the fact that Ripple is trying to get rid of the claims, citing the inconsistency of the charges, the co-founders of the fintech company themselves actively contribute to the token dump.

According to the XRPL monitoring service, the address belonging to the former head of Ripple Chris Larsen recently transferred 75 million XRP ($ 19.5 million) to an anonymous wallet.

Intentional downgrade

The XRP community often accuses Ripple, which is the largest holder of XRP tokens, of deliberately pressure on the asset, causing a bearish trend with large token withdrawals.

Nevertheless, some consider it dubious to look for a direct correlation between the actions of Ripple itself and the price of XRP..

Anthony Pompliano, co-founder of cryptocurrency hedge fund Morgan Creek Digital, said earlier that he sees no reason why XRP’s price should depend on the success of the issuing company..

XRP entered the top 10 for altcoin profitability

β€œFor me, the success of Ripple does not mean that XRP has to be successful,” said Pompliano..

What do you think? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

Share Article

Similar articles

Similar articles