Although Ripple continues to build partnerships with financial institutions around the world, its progress with adoption of xRapid is still quite slow. xRapid directly utilizes XRP for cross-border transaction payments, and its success or failure will have an vast impact on the value of the token. It is assumed that this rapid increase is due to the partnership with Börse Stuttgart as well as Coinbase Pro's open trading service for NY customers.
Regardless of XRP's lackluster performance over the past several months, the cryptocurrency incurred a massive influx of buying pressure yesterday that instantly led it to surge to fresh year-to-date highs in the lower-$0.40 region, where it has found some levels of resistance that have proven to be hard to break above. It is giving a promising performance in the global market for its investors. The market value of XRP was fluctuating between $0.31 and $0.37 for a while after its opening price of $0.310.
The four-hour time frame shows that buyers have now invalidated the large head and shoulders pattern, with XRP / USD pair now trading well above the bearish pattern.
At the time of writing Ripple (XRP) is trading up over 22% at its current price of $0.40, up significantly from its daily lows of $0.32.
This came after the exchange added trading support for the digital coin on its retail platform in February following the addition of the same on its professional trading platform earlier this year for all its clients except the one based in NY and the United Kingdom.
ETNs track an index of securities.
Nevertheless, XRP has made a tremendous growth of 25.82% on Tuesday within past 24 hours.