News

Top 3 Reasons, Why XRP Price is Pumping very hard

Highlights

    XRP price surged more than 70% in the last week to touch close to the present critical resistance.

    The asset is expected to climb even more highs as Ripple company’s new movements have heavily impacted XRP price

XRP price has become the talk of the town in recent days with remarkable gains within a short stipulated time. The asset has rallied more than 70% in the past week which is considered as a pretty good gain.

Advertisement Miners Garden

Also read : Top 5 Reasons XRP Could Hit $1 This Year

But What Happen All of Sudden, That XRP Price Rallied to the Moons. Let’s List Them All

Proposed Rule of OCC

The US Office of Comptroller of the Currency which is responsible to regulate the National banks recently proposed a rule. According to the rule, the banks will be forbidden to blacklist legal industries, probably crypto space too.

Not only XRP, but most of the coins might also have witnessed a huge surge in their price due to this factor. 

Ripple’s New Strategy to Capture CDBC’s

Ripple is looking to hire a senior director of the central bank to lead its strategy, partnerships and project work with central banks around the world. The main aim is to push the Central Bank Digital Currency(CDBC’s) support, XRP Ledger.

The Ripple wants to partner with the CDBC projects and manage the whole process right from the start to finish.

Also Read : Ripple Price Analysis: XRP Price Might Hit $2 If It Clears the $0.49 Barrier

Bank of America Partners with Ripple

Ripple recently updated its official page and revealed Bank of America as one main client of the Ripplenet. The rumours of the partnership have surfaced during the Ripple Swell event 2020 in the month of October.

It was speculated that bank customers will be able to send money internationally instantly with low costs.

XRP is believed to continue to rally as high as $1 only if the critical resistance at $0.487552 is broken successfully. Post to which the digital asset is expected to reach more highs in the cming days. 

Moreover, if Ripple’s attempt to partner with the world’s CDBC projects succeeds, then the XRP rally would continue without any pause.

Tags
Show More

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

footer-banner
Close
Close