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Bull-rush of Ripple {XRP} was the result of a whale moving more than 8 million XRP coins

Ripple is trading in the red zone. The price of XRP rests at $0.330277. The trading volume recorded is $996.367 million. The total market cap of Ripple according to the latest available data is $14.147 billion. The circulating supply has 42,832,704,971 XRP tokens in play as of now.

Two days ago on July 20th, the price of XRP had grown amidst a bullish presence in the market. A news report states that this occurred after a transfer of 9,999,000 XRP which was carried out. Early on, the sender had activated the account back in November 2018.

A sum total of 10 million XRP was transferred to the sender’s wallet prior to the aforementioned transaction. Since then, the price had found support near the $0.32 level, but for now the trading volume is lower the usual average.

The Bank of America’s patent on Ripple’s DLT was released recently. Since then it has garnered a ton of traction from XRP enthusiasts. Sentbe’s partnership with MoneyGram was a highlight of the previous week as well, as Ripple now has a presence in South Korea.

Some still hold the opinion that XRP may replace SWIFT completely in the near future. Few believe that XRP would reach $1 by the end of 2019. These are all speculations, with no evidence to back up the claims.

Ripple has been a major under performer, even though adoption rates have been reasonably high in recent times. This is due to the constant dump that occurs, brought about by those who actually regulate the tokens in play. Remittances have been the chief source of traffic for Ripple, as new technologies are being explored.

A news article also claims that MasterCard and Ripple may indeed be partners. MasterCard, alongside VISA are part of the board which would preside over LIBRA. This was an initiative of Mark Zuckerberg, which had helped BTC gather momentum for a while.

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