Ripple foundation had some major setback in the terms of negative news regarding the nature of XRP where a great part of the crypto community was convinced that XRP is actually security with centralized governance.
However, XRP is swiftly being pulled out of “security or currency” drama with the latest improvements, in the market as well as in the adoption plan for XRP. As of the latest case of events Ripple foundation announced that xRapid is being offered as a payment solution to banks, that way advocating for XRP as well, which is generally the first time that the foundation is promoting the adoption of their native token through banks and financial institutions’ payment systems.
It seems that there are slightly any doubts left about XRP actually being a currency, rather than security, so XRP is showing some astonishing results during the past week.
Ripple on the Bull Run: 44% Against the Dollar in a Single Day
Ripple has had some major moves during the last week with announcing that the Commercial Bank of Saudi Arabia will be joining RippleNet, the network of Ripple’s valuable partnerships, that now counts more than 120 banks and financial institutions across the globe.
While XRP scored around 20% in a single day several days ago with the announcement regarding the efforts of the foundation to increase the adoption of XRP through offering xRapid to financial institutions and banks, which seems to be already working in the favor of XRP in the market.
It seems that with this initiative, Ripple would be finally able to convince the community in the decentralized integrity of their native token XRP.
After reaching an increase of 20% against the fiat in the course of 24 hours, XRP once again showed an amazing progress in the market, possibly making one of the top gaining currencies in the market that is currently bouncing back up with new gains.
Ripple is also closer to reaching the spot of the 2nd largest currency by the market capitalization, which could become the reality in case Ripple doubles its current price, reaching 1$ per one XRP and ETH remains at the same pace of growth.
As ETH investors and Dapp devs hosting their decentralized applications are pretty cautious regarding the future of ETH in the market as Vitalik Buterin, the CEO and founder of Ethereum, stated that ETH might be even touching 0$ soon, Ripple has a good chance of confidently passing by Ethereum in case it reaches the value of 1$, which is becoming more realistic with each new day of gains.
On September 21st, XRP is seen in an amazing bull run, going up by 44% against the dollar in the course of the last 24 hours, also rising up against BTC by 39%, making it worth 0.47$ per one unit and only half way to reaching the initial milestone price of one dollar.
Moreover, as xRapid product should officially go live in the course of a single month or so, it is expected to see XRP additionally surging towards new gains with great chances to reach 1$ price in the upcoming weeks.
At the end of September 20th, XRP was also seen rising up against dollar by almost 9% as the rest of the market was suppressed by the active negative market trends, only to see it spiking up by 44% only 12 hours from reaching the first set of gains of around 9%.
Can Ripple get Back to Its All-Time High by the End of the Year?
As the indications that XRP might be security rather than a currency seized, new indications that XRP is able to easily slide back up to its all-time high.
XRP made its record price back in January with the rest of the market in what seems to be a massive and collective bull run. Since then, while many currencies dropped by 90%, Ripple lost around 70% of its total value since reaching its all-time high.
Now when XRP is seen in an obvious bull run, many enthusiasts believe that Ripple’s native token could easily head for 3.40$ per one XRP by the end of the year, judging by the performance in the market XRP is showcasing since the announcement of xRapid solution for banks.
xRapid is already being tested by SBI holdings and several other financial institutions, which hints that Ripple is ready for their next biggest product that should come out during the next month or at the beginning of November, also indicating that XRP might be heading to the moon.