• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Ripple Surges After Nasdaq Adds XRP Liquidity Index, Will Growing Adoption Propel It Higher?

Cole Petersen by Cole Petersen
2 years ago
in Cryptocurrency news, Ripple
Reading Time: 2min read
Ripple XRP
Advertisement
Listen to Article

Over the past several months many cryptocurrencies have incurred relatively large gains that have put a significant amount of distance between their current prices and their 2018 lows. But much to the chagrin of investors, Ripple (XRP) has not been one of these cryptos, as it has remained relatively stable around the $0.30 region.

Today, however, Ripple has gained some upwards momentum after news broke regarding XRP’s Liquidity Index being added to the Nasdaq Global Index Data Service, joining Bitcoin and Ethereum, which were both added previously.

Ripple (XRP) Sees Growing Adoption Despite Lackluster Price Action

Although many investors directly equate positive price action with growing fundamental strength, the two are not inextricably linked, as often times cryptocurrencies incur massive price movements – both upwards and downwards – regardless of fundamental, news-based developments.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

XRP, whose future largely hinges on whether or not banks begin taking to it to facilitate payments, has been floating slightly above its 2018 lows that were set in the mid-$0.20 region in late-December, and many investors are beginning to lose faith in it as it continues to face downwards pressure despite the improving market conditions.

Despite this, in the past week the embattled cryptocurrency has incurred a few positive developments that may ultimately help it climb out of its rut.

Today it was announced that Nasdaq would be adding Brave New Coin’s XRP Liquidity Index to its Global Index Data Service, which was developed by BNC with a goal of meeting the “marketplace requirement for a single, reliable and fair USD price for XRP — based on live real-world trading activity.”

In addition to this, it was also recently announced that Saudi British Bank (SAAB) – which is a subsidiary of banking giant HSBC – has officially launched its first Ripple-based payment system, although it remains unclear as to whether or not they will be utilizing xCurrent or the XRP-based xRapid.

Majed Najm, SAAB’s deputy managing director or corporate and institutional banking, spoke about their decision to use a Ripple-based payment system, saying:

“This step is part of the Bank’s ongoing efforts to provide the best banking services to customers, make use of the latest technology and global banking products available, and create methods and means to save time and effort for our customers.”

Could Growing Adoption Push XRP Higher? 

At the time of writing, XRP is trading up 4.2% at its current price of $0.306, up from its daily lows of $0.29.

Over a one-month period, however, XRP is still down significantly from its highs of $0.37 that were set earlier this month.

This recent price surge may be technically significant for XRP, as it recently hit a price level below $0.30 that many analysts deemed to be a “do or die” price level for the cryptocurrency.

Peter Brandt, a popular analyst on Twitter, explained this in a recent tweet, saying its “do or die time for the $XRP bag holders.”

Do or die time for the $XRP bag holders pic.twitter.com/ZrRtHtBDCY

— Peter Brandt (@PeterLBrandt) April 27, 2019

As the week continues on and XRP’s price action continues to unfold, it will likely grow increasingly clear as to whether or not growing fundamental strength will be enough to hold it above $0.30 and to propel it higher.

Featured image from Shutterstock.
Tags: cryptoRipplexrp
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Trouble for Bitcoin as 3 On-Chain Indicators Point to Potential Sell-Offs

31 mins ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Severe Liquidity Shock Ahead for Bitcoin Market, Warns JPMorgan

3 hours ago
regulations

Crypto Exchanges: Slow Shift to Classic Financial Industry Regulations?

4 hours ago
defi

11 DeFi Projects Rumored to Be Airdropping Tokens

19 hours ago
Nimbus: The Next Big Thing in DeFi

Nimbus: The Next Big Thing in DeFi

20 hours ago
ILCOIN

Age of ILCOIN: A Revolution in The Merger of VR With Blockchain-Based Gaming

21 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Coinbase Custody to Support Dvision Network (DVI)

January 26, 2021

A New Year – New Opportunities in Crypto

January 26, 2021

1xBit Introduces New Live Casino Tournament DEAL OR NO DEAL

January 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.