XRP Boosts Utility Volume: 250K New Wallets, 150 New Pairings In Half A Year
Ripple and its digital asset XRP have been extremely successful this year. XRP is becoming more adopted, and the price is on a positive trend after a really long bearish period of time.
More than that, some experts even pointed out the fact that XRP’s doesn’t seem to necessarily depend on Bitcoin’s movements.
A surge in utility volume, new wallets, and pairings
ZyCrypto highlighted that the digital asset increased in utility volume, some new wallets are added to the platform with 150 new pairings in a period of six months.
Even though the price of Ripple’s coin has been a stagnant one during Q1 2019, it was boosted in May.
Experts are predicting that XRP will hit $0.50 soon and some more bullish predictions also surfaced in the crypto space.
The online publication mentioned above addresses some potential factors that are pushing the coin’s utility.
They bring up Ripple’s expanding network, the integration of xRapid with XRP, and more.
“Since Catalyst Corporate Federal Credit Union integrated xRapid and XRP, it became the first blockchain-based application of cryptocurrency by financial institutions in a commercial product,” according to the online publication.
Bullish XRP predictions
XRP predictions are getting more bullish with each passing day.
At the moment, the coin is up, trading in the green on CoinMarketCap, after Bitcoin started racing since yesterday, and managing to break the $9,200 level.
The online publication writes that Ripple has been really busy bagging partnerships that would lead to an increased number of use cases for XRP.
They write that at the moment, a lot of top banks in the world are recognizing Ripple and its xRapid product that is powered by XRP.
It’s believed that the protocol which uses XRP will eventually be the main trigger of such a massive surge in price for Ripple’s digital asset.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.