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XRP/USD outpaces other crypto-peers on mounting Ripple’s popularity

The cryptocurrency prices, so far this week, have been attempting to show slight recovery despite major trend being edgy with selling pressures. 

With BTCUSD’scurrent price (at Bitfinex), $3,550 levels, a jump of about 4.44% from the recent lows of $3,422 levels. While Ripple (XRP) has attempted to bounce back from 0.28524 to the current 0.32310 levels (almost up about 13.27%), while Ethereum (ETH) has also taken off rallies of 10.34%, currently trading at $113.88 levels while articulating.

Thereby, one can understand XRP has outperformed with considerable upswings above 21-DMAs, whereas, the other two major crypto pairs are still restrained below 21-DMAs. 

This XRP’s notable outperformance despite struggling crypto-atmosphere, has been majorly owing to Ripple’s steadily and robustly built-up ecosystem, which happens to be a niche various business segments, especially in the world of interbank payments.

As we reported earlier, it is quite noteworthy to reiterate that Ripple has sold a sum of $535.56 million in XRP tokens in 2018, as per the report. Out of which, approximately around a third of $171 million has flown in from institutional clients while over $363 million has been added in the form of revenues from third-party market makers.

Furthermore, the Ripple company recently announced its collaboration with nearly about 200 clients and foresaw a 350 pct surge in the client base transacting live payments. The company's ability to transact overseas payments swiftly and efficiently is observed as a competitive edge, as a result, banks’ experimentation, if not, complete transformation from its current Society of Worldwide Interbank Financial Telecommunications (SWIFT) system to DLT system.

Currency Strength Index: FxWirePro's hourly BTC spot index is flashing -65 (which is bearish), while hourly USD spot index was at -33 (bearish) while articulating (at 07:22 GMT).

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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