Ripple price to see DRAMATIC BOOST? XRP announcement could be good news for investors
After the report of quarter 2018 by XRP, Ripple’s price surged drastically and could get a dramatic lift in upcoming days and this may prove to be good news for investors because the cryptocurrency is dealing at $0.85. A recent market report was issued by the San Francisco startup that stated $167.7 million of Ripple in the first quarter of the year.
The report said that in the first quarter of 2018, market contestants bought $16.6 million directly from XRP II, LLC which is their registered and licensed money service business (MSB). The New York State Department of Financial Services has licensed XRP II, LLC for getting involved in Virtual Currency Business Activity. In addition to this, the company sold $151.1 million worth of XRP technically, as a minor percent of total exchange volume.
In the first quarter, these sales indicated 0.095% of the $160.0 billion dealt worldwide in XRP. Huge amounts of XRP dealt in the first quarter and mainly during the first half of the quarter, causing a speculative rise in technical sales by Ripple.
This report may prove to be a kind of good news for investors and may boost up their confidence in XRP that may result in a price rise. A claim was made by Tom Channick, Ripple’s head of corporate communications that the company’s hopes have been surpassed by the state of XRP.
As cryptocurrency had gone through ups and downs, the last week has been violent for Ripple investors. This week the virtual money dealt around $0.95. On 24th April, the price of XRP went up but then it leaped to as low as $0.79.
The recent market charts show that the prices are growing gradually, so it looks that resurrection is occurring in the cryptocurrency. In January, when it touched huge figures of £3.09, Ripple’s uppermost prices came back. After that XRP jumped on markets and ever since then it was not able to reach such huge values.
In February, a momentary resurrection generated a hope in Ripple investors that the virtual currency was on the path of regaining. Eventually, on 8th April, this surrendered and observed the prices to drop to as low as $0.49. Such repeated fluctuations i.e. increase and a decrease in prices display the horrifying changeability of cryptocurrencies.