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In the last twenty-four hours, the situation was different for Ripple compared to Bitcoin, which followed a low-volatility trend. As the third most valuable digital currency in the world, its price has increased by about ten percent. In contrast, the total crypto capital decreased by about 5% at the same time.Does Ripple have a significant increase?
Technically, the price of Ripple may decrease in the coming weeks. Because a line retests a multi-month downtrend as resistance. This downward trend line from April 2021 increases the possibility of a drop in Ripple’s price now.
Ripple is a large company located in San Francisco, USA. Ripple is one of the cheapest currencies in the global capital market, which has attracted the attention of many economic institutions in recent months due to the growth and development of other digital currencies such as Bitcoin and Ethereum. Like most other digital currencies in the capital market, Ripple uses block chain technology to maintain its information. This cryptocurrency can be considered as a site for other currencies. This currency is no different from other digital currencies and makes exchanges for any currency easy. In fact, Ripple is only an intermediary or gateway for a transaction
Why will the price of Ripple (XRP) increase?
Ripple was bought and sold at the rate of 25 cents at the beginning of December 2017, Ripple managed to see a significant growth in value after being operational in East Asia.
The serious and main purpose of Ripple currency in recent years is to provide services to banks and financial institutions. You should also know that Ripple has reached an agreement with hundreds of financial organizations and banks around the world.
It is interesting to know that a number of investors believe that Ripple will speed up international payments in the future. For this reason, the value of this digital currency should be seen to grow even more than before. It is even claimed that Ripple will replace Swift.
Ripple is trying to replace Swift in the world of early cryptocurrencies. One of the most important advantages of this currency is its high speed, low transaction fees, the ability to track remittances, and the high number of transactions per minute. The speed of Ripple transactions is only four seconds. For example, one of the Ripple transactions where 900 million of this cryptocurrency was transferred, only 0.000012 Ripple was paid as a fee.
Ripple has decided to solve these difficulties so that banks, large financial and credit companies and commercial companies can transfer money globally quickly, with greater security, without intermediaries and with the lowest commission. It is interesting to know that now a number of banks in some countries, including Japan and Korea, are using this program.
Now we have to wait to see if the bad era of cryptocurrencies will end or not. Follow us to learn more about the world of digital currency.
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