“Catch the Next Bitcoin Type Crypto;” TikTok has Found XRP, Get Ready to Moon
Just before the weekend, XRP had started pumping when it was trading at about $0.30.
One after another, XRP continues to break new levels and today’s uptrend had the digital asset surging to the $0.78 level, which was last seen in Sept. 2018.
At this point, $1 would soon be here.
And amidst this crazy bullishness, Tik Tokers seems to have found XRP.
On the already pumping XRP, the effect of social media and retail crowd, looking to get into the cheap coins, could send the digital asset to the moon.
“TikTokers finding shitcoins they can buy on Robinhood right at Thanksgiving is like when you taught your parents how to buy Bitcoin on Coinbase for Thanksgiving 2017,” commented one trader.
— TikTok Investors (@TikTokInvestors) November 23, 2020
Interestingly, in the past seven days, XRP has pumped the hardest, up more than 123%. It has actually been the worst-performing asset throughout 2018, 2019, and even 2020, up until now.
In the past 24 hours, the real volume recorded by XRP is $6.07 billion while $5.05 billion and $3.89 billion worth of BTC and ETH are traded, respectively, as per Messari. The first spot remains unmoved by Tether (USDT), whose trading volume is nearly the combined volume of XRP, BTC, and ETH.
The crypto community is enjoying the wild gains recorded by XRP while taking a jab at it as trader Red quipped, “Just In: US Federal Reserve abandons dollar, names XRP new reserve currency.”
Janet Yellen announced her plan to adopt XRP as the reserve currency of the US after being appointed the Secretary of the Treasury by Biden.
— Qiao Wang (@QwQiao) November 24, 2020
Amidst all this, Ripple finally added Bank of America on its website. The fintech also announced that Bitso is leveraging On-demand Liquidity (ODL) that uses XRP to deliver friction-free exchange Across Latin America.
“With help from Ripple, Bitso is now the largest exchange in Latin America,” said the company's Head of Finance, Bárbara González Briseño. “We have the world’s largest liquidity of Mexican pesos to digital assets and are MoneyGram’s key exchange partner for remittances into Mexico.”
She further shared that they are now looking at other popular corridors like Brazil-Argentina, Colombia-Brazil, and U.S.-Peru “to connect all of Latin America into a single network.”