XRP Price Forecast as XRP Pumps 9%, Becomes Top Performer
XRP price prediction remains bullish as it exceeds the 50-day moving average of $0.3815. Closing candles above this level support the bullish bias, but the double-top pattern limits the upside moment.
Quarterly, Ripple (XRP) publishes an XRP market report detailing the company's progress in key areas including product development, public relations, tokenomics, and more.
The article claims that Ripple's XRP reserves have fallen below 50 billion, or 50% of its optimum supply, for the first time since the cryptocurrency's inception.
Over the years, Ripple's detractors have pressured the company's XRP reserves to prove that Ripple is in command of the XRP Ledger (XRPL). Ripple has refuted these accusations and emphasized the usage of Federated Byzantine Consensus for feature addition and transaction verification.
The third quarter saw increased activity in On-Demand Liquidity (ODL) as the service expanded into new areas and was used by clients for both single-transaction and bulk payments.
By working with Travelex Bank, Ripple was able to introduce ODL to the crucial Latin American market of Brazil.
Users will be able to send and receive money between Brazil and Mexico as a result of this agreement, streamlining the process of making cross-border payments and doing away with the necessity for pre-funded accounts.
Ripple's XRP revenues dropped to $318.68 million in the third quarter from $408.90 million in the second quarter. Since the end of programmatic sales in the fourth quarter of 2019, Ripple has stuck to its policy of only selling XRP in conjunction with ODL transactions.
As the ODL service is introduced in more regions, Ripple expects volume to rise. Additionally, the SEC's case was updated in the report. It emphasized its
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