Analysis

Ripple: Positive Surge and New Gains

From February 10 until today,  Ripple cryptocurrency seems to have recovered the market. The pair XRP / USD, during  last week, has moved from 0.7600 dollars to 1.15300, today’s value. A positive surge leading to over 10% earnings. 

The biggest push at the XRP price was given by the giant Western Union, which showed its intention to join in partnership with the Ripple system. Rak Agraval, the company’s Chief Financial Officer, said that Western Union is evaluating the usefulness of Blockchain technology with the projects currently being tested.

Another boost has also come from the European Central Bank, which rejected fears of a ban on trading, after days of uncertainty. The president Mario Draghi, answering some questions on Twitter, saying that the task of regulating cryptocurrencies does not lie with his institution.

But that is not all. To push XRP price towards new increases, also the pilot financial agreement with the Saudi Arabian Monetary Authority (SAMA). The agreement will allow Saudi banks to use xCurrent for cross-border payments. With additional training and program support in place.

Since 6 February, the cryptocurrency has recovered more than 80% of its value. XRP is therefore the most performing token of this early 2018. The same Brad Garlinghouse, CEO of the company, said he was confident about continuous new increase,  despite the strong volatility that still characterizes the currency trend.

This means that future forecasts for Ripple investments are quite good. And today is a good time to negotiate the currency, thinking about  long term investements.

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