The Ripple price has taken multiple hits over the past six months. Most people agree with that. At the end of June, the XRP price was roughly $0.54. In two months, it dropped to $0.29.
But now that’s over; we’re in the midst of a Ripple rally. Or, so it appears.
After bullish news for XRP surfaced this week, the price has skyrocketed, with the altcoin currently up more than 10%. And what was that news? Well, let’s just say it involves the launch of xRapid.
Possible xRapid Launch Sends XRP Price Higher
On September 17th, CNBC reported that Ripple might be launching a commercial version of xRapid, which is the company’s payment platform.
Huge news as is, but even more so when you consider the launch might be in October. That’s one month away. According to one Ripple executive (Sagar Sarbhai), the team is “confident that in the next one month or so” the market “will see some good news coming in where we launch the product live in production.”
With that in mind, should we be surprised to see the Ripple price trading up in the double-digits? No; not really. Ever since the potential xRapid launch announcement, social media has blown up with XRP news related stories.
The social media traction—keywords XRP and Ripple are trending—probably kicked off this week’s Ripple rally.
XRP Price: September 20th, 2018
At press time, XRP is trading at $0.37. Of course, this is not as high as where the altcoin was back in June, but that’s okay; it’s better than the price being $0.29.
Trading at $0.37 means XRP is up 15.31% in the past twenty-four hours.
Are you on board with an xRapid launch in October? Do you think it’s the catalyst XRP has needed to keep it trading in the green zone? Let us know in the comments below, and don’t forget to check back in next week for more XRP news and Ripple price updates!
Featured Image: Depositphotos/© volodymyrshtun