XRP Market Cap Fell By over $9 Billion on Tuesday

XRP Market Cap Fell By over $9 Billion on Tuesday

The reason for this is the xRapid. Its other product, xCurrent is now being used to settle bank-to-bank transactions in real-time without XRP. Speaking of xRapid, Sarbhai stated "I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production".

Though the bullish trend from the upper week had started to reverse, the prospect of the cryptocurrency getting listed on Coinbase impacted a further rally as the value of XRP went from $0.436 to $0.478. The final level of significant support expected for XRP can be located at the downside 1.618 Fibonacci Extension level priced at $0.2669. It is definitely the big players trying to capitalize on the sentimentalist approach of Ripple (XRP) investors who as we have seen in the past trade big on FUD and FOMO. The XRP price has increased an astonishing 64% in the past two days, glueing a 7-day long rally of over 113%. However, the coin has plummeted significantly by nearly 90% since it reached its all-time high in January. Some people assume Ripple and XRP are one in the same thing.

Responding on social media, Ripple commentators disputed the claims, noting McCaleb has no direct control over his holdings, these being held by Ripple in a "custody account" under the agreement.

Cuallix is a digital company that operates in the United States, Hong Kong, and Mexico and it offers the unbanked an incredible method to make global payments.

The company has created xRapid to provide financial institutions with a real-time settlement solution that uses the digital asset XRP to enhance the speed and liquidity of cross-border payments.

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Ripple's Sarbhai said that more than 120 banks are now partnered with Ripple, using the blockchain-based product xCurrent. How exactly does it work? Although perhaps not meant to be an official statement, these remarks serve to confirm other rumors that xRapid is nearing the end of its testing phase, and will soon be put into real-world use. By looking at the price of Bitcoin and altcoins, it is suggested that there is a possibility of another bull run.

Moving forward if the bearish pressure continues within the market, we expect immediate support to be located at the psychological round number $0.5 handle.

However, since the XRP addresses are public, it is also known which addresses can be assigned to Jed McCaleb.

According to coin market data, Bitcoin's market dominance has risen sharply from 32.45% in January 2018 to about 53% as at September 2018.

Weiss Ratings also mentioned that those altcoins that have lost 90% of their value are likely to increase by ten folds. "XRP clearly has, among the major (cryptocurrencies), the lowest transaction costs".

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