Ripple price to see DRAMATIC BOOST? XRP announcement could be good news for investors
RIPPLE’s price could be about to receive a dramatic boost after XRP made an announcement that could be good news for investors as the cryptocurrency trades at $0.85, it has emerged.
The San Francisco startup released its latest market report earlier this week that declared $167.7million of Ripple in the first three months of the year.
The report read: “In Quarter one, 2018, market participants purchased $16.6 million directly from XRP II, LLC — our registered and licensed money service business (MSB).
“XRP II, LLC is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services.”
Additionally, the company sold $151.1 million worth of XRP programmatically, as a small percentage of overall exchange volume.
“These sales represented 0.095 percent (9.5 basis points) of the $160.0 billion traded globally in XRP in quarter one.
“Significantly larger volumes of XRP were traded in quarter one, particularly during the first half of the quarter, resulting in a notional increase in programmatic sales by Ripple.”
The positive report could be good news for investors and increase confidence in XRP, leading to a rise in prices.
Ripple’s head of corporate communications, Tom Channick, claimed the state of XRP had “exceeded” the company’s expectations.
However, the past week has proven tumultuous for Ripple investors as the cryptocurrency suffered from peaks and troughs.The virtual money has traded as high as $0.95 this week. XRP values climbed on April 24 but since plunged to lows of $0.79.
A resurgence of the cryptocurrency appears to be taking place as the latest market graphs show the price steadily rising. Ripple’s highest values came back in January when it reached whopping figures of £3.09. XRP then plunged on markets and has failed to reach such high prices since.
A brief resurgence in February gave Ripple investors hope that the virtual money was on course for a recovery. However this ultimately capitulated and saw values sink to frightening lows of $0.49 on April 8. The frequent price rises and declines showcase the monstrous volatility of cryptocurrencies.
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