Ripple Is Up. So Why Is Its Cofounder Selling His XRP Tokens?

Ripple Is Up. So Why Is Its Cofounder Selling His XRP Tokens?

Ripple Is Up. So Why Is Its Cofounder Selling His XRP Tokens?

According to the newly-announced plans by Ripple Labs Inc.

Since late June, Ripple (XRP) experienced an intensified movement on the downside in comparison to other major cryptocurrencies like Bitcoin.

XRP demonstrated a three-fold increase in price, with Stellar and Cardano mimicking the short-term trend of XRP. At one point this summer, it was down more than 90 percent from the high.

Here are Top 10 gainers in terms of price over the last 24hrs...

Yes, I know, I know.

Remarkably, since September 18, Ripple's trading volume has skyrocketed from a range of $200 million to $300 million to more $ 4.7 billion, more than 15-fold.

The post Ripple Price Analysis: XRP/USD Remains In Major Uptrend appeared first on NewsBTC. PNC has revealed its plans to use one of Ripple's products - xCurrent - that will help the firm to speed up cross-border payments made by US commercial clients. Speakers from Banco Santander, Payments Canada, and other financial institutions and some regulators are listed to talk at the conference.

Obviously this announcement was a positive one for the Ripple community.

Ripple's Sarbhai said that more than 120 banks are now partnered with Ripple, using the blockchain-based product xCurrent. As just described, this scenario is unrealistic considering the bitcoin price will continue to rise and new bitcoins will come into circulation. PNC bank, which reportedly has over 8 million customers and a market capitalization of $380.7 billion, will use Ripple's financial products to create "an immediate impact on ... enabling PNC's commercial clients to receive payments from overseas banks in real time".

In February, crypto derivatives platform BitMEX also warned investors that Ripple's payment network architecture will likely "remain unstable and [its] trust networks are unlikely to be regarded as reliable". Then again, a push over the $247 and $250 resistance could start more gains.

Jed tried to dump his XRP quickly and Ripple acted to stop him through a series of lawsuits. Ripple has become the World's second largest cryptocurrency.

One of the worst performing cryptocurrencies this year is making a comeback. Certainly not as radical as other crypto enthusiasts, the Ripple team doesn't want to overtake and destroy fiat currency, but rather improve on the system that we already have.

What do you think about Jed McCaleb's "increased" XRP sales?

Nevertheless, Ripple isn't allowing these little barricades to get in the way of its progress.

Few hours back, the crypto space was filled with chants for Ripple's (XRP) success while the altcoin remarkable displaced Ethereum (ETH) from the second position in the table. This time, we can clearly see that this is not the case. Perhaps those who are die-hard crypto purists need not to discount Ripple's XRP in its entirety, but merely recognize that it's simply serving another objective and that the team behind it is just in another group of crypto enthusiasts.

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