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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
