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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jul 31, 2020 07:23 UTC
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Ripple’s XRP Appeared in Official US Bill Proposal, Here’s How XRP Army Reacts
The XRP price chart suggests a major hike in the price if it maintains itself above $0.25.
XRP mentioned in a document of an Official US Bill Proposal published in June this year
Some of the members claimed that the appearance of XRP in the US document is old and fake news. They perceive it as an attempt to pump the digital asset.
XRP To Rise Above $0.25
During the ongoing altcoin season 2020, while all the major coins had surged, XRP remained in a bearish zone. XRP still appeared red whereas all the top 10 cryptos continued with their soaring price at the time of reporting this. However, a new study suggests that XRP may witness bull run if it clears $0.25 mark.
This week XRP saw a sharp increase following the Bitcoin and the Ethereum rally. The study suggests that there is a rising channel forming with support near $0.24. However, if it follows the bearish trend, it might again go back to $0.22.
XRP in Official US Bill Proposal
The digital asset has not shown any major bull run but rather was swinging in a very narrow range less than a dollar. In the past couple of days, XRP has surged with a limited range of not more than $0.1- $0.2.
In a new update, some old and fake news has surfaced on the media platform. A crypto influencer, entrepreneur, and founder of Gokhshtein Media, David Gokhshtein recently tweeted an update about the Ripple and its native token XRP. David in his tweet says that’ Ripple and XRP Mentioned in Official US Bill Proposal’.
The update was dated back in December 2019 which stated that the bill proposed on remittance insurance by the state of US mentioned Ripple and XRP as the payment channels. However, the other users replied about the wrong news within minutes and also responded with the latest and authentic document from the federal registrars which stated some amendments to the ‘Remittance Transfers Under the Electronic Fund Transfer Act (Regulation E)’. On the other hand, the fact is that the news was published last year by linking to the same document which appeared to be updated in June this year.
Also read – Ripple’s P2P XRP Payment Platform Goes Live in Beta
More XRP Millionaires
In a recent update by crypto analyzing tool, Santiment, the number of people holding more than a million XRP coins has increased by 3.7 percent. Interestingly, the XRP army viewed 30 more people becoming ‘XRP millionaire’ in just two weeks.
These investors hold in between $240,000 to $2.4 million in XRP each which might have supported the surge in price. However, only time will reveal whether the digital asset would go through a bull run or keep surging with a small range.
You may also find this interesting – XRP Army Calculates Number of XRP Tokens Now Available for 328 Mln Americans
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