• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Buyers storm into XRP, gains 10% in 7 days

Olumide AdesinabyOlumide Adesina
3 years ago
in Cryptos
Ripple’s chairman transfers 500,000,000 XRP
Share on FacebookShare on TwitterShare on Linkedin

In recent days investors are now trooping into the fourth most valuable crypto at an alarming rate.

At the time of writing, XRP traded at $0.257563 with a 24-hour trading volume of $1,669,200,118. XRP price is up 9.9% in 7 days. It has a circulating supply of 45 billion coins and a max supply of 100 billion coins.

READ: Banks’ stakeholders express 4 main concerns bothering the sector right now

Although like the other cryptos, XRP has a long way to go to make it back up to its early 2018 highs. What’s interesting in the metric stated above is the increase in buying volume that shows high buying pressures.

The fast-moving crypto has been fighting to stay above $0. 25 in the last few days. It does show that the sellers have built a resistance around that price level.

READ: Ripple Whale transfers 20,000,000 XRP to Binance

What you should know: Ripple owners of XRP is a privately-held fintech company that provides a global payment solution via its patented payment network called Ripple Network (also known as RippleNet).

  • XRP is the digital token that has a circulating supply of 45 billion coins and a max supply of 100 billion coins.
  • XRP still remains the only crypto gaining traction among global banks as Japan-based Mitsubishi UFJ Financial Group, with assets of more than USD 2.8 trillion, announced in November 2018 that, in cooperation with Ripple, it would provide an international money transfer service on the payment corridor from Japan to Brazil
  • Other leading global banks using Ripple include Europe’s banking giant, HSBC Holdings Plc, with assets of about $2.5 trillion, which disclosed in 2019 that it would use the XRP payment solution.

Explore Data on the Nairametrics Research Website

Why it seems Ripple has a future

Economic historian, HSBC Holdings Plc, recently explained that cryptos should not just be considered for speculative reasons, as leading crypto assets have shown characteristics of being tangible assets. He said:

ā€œI don’t think that thinking about crypto as speculative investments is really a long-term viable business model. Speculative investments have come and gone throughout history. Tulips came as a speculative investment and they went. [Digital assets] that provide actual tangible services like cross-border payments are the ones that are likely to have legs.ā€

Related

Tags: cryptoCryptocurrencyCryptocurrency Newsdigital assetsHSBC Holdings PlcMitsubishi UFJ Financial GroupRippleNet)TulipsXRP

Comments 1

  1. Mayowa Sheriffdeen says:
    October 11, 2020 at 4:44 pm

    Good evening sir,my name is Mayowa Sheriffdeen from Oyo State,sir how can I buy tether online without using debit card? Thanks.

    Reply

Leave a Reply Cancel reply

hfm
UBA
Mega Millions
Mega Millions
fidelity banner
HFM
webinar







NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Buhari says Nigeria’s stock of infrastructure to GDP doubled to over 40%
  • MTN gains as SWOOTs capitalization closes at N18.835 trillion
  • Nigeria’s active internet connections increased by 2.7 million in Q1 2023

Follow us on social media:

Recent News

Buhari to commission the Second Niger Bridge, 6 other major projects today

Buhari says Nigeria’s stock of infrastructure to GDP doubled to over 40%

May 28, 2023
MTN gains as SWOOTs capitalization close at N18.835 trillion.

MTN gains as SWOOTs capitalization closes at N18.835 trillion

May 28, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

Ā© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • Login
  • Sign Up
  • Cart

Ā© 2023 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In