Even As Ripple’s XRP Listed On PLAAK And Cryptopay, Price Spirals Down
More exchanges are supporting XRP right now. The crypto as recently added on the PLAAK exchange and in Cryptopay, a wallet and cryptocurrency card provider. PLAAK is a platform that offers a range of services related to the blockchain like trading cryptos, finding freelance jobs and being paid with them, accessing private health insurance, medical records and more.
These services will all be integrated with services that you can pay using cryptos. The exchange will offer its users the chance to invest in the following trading pairs: XRP/AUD (Australian Dollar) XRP/BTC, XRP/ETH, XRP/PLK (PLK is the native token of the exchange).
On the other hand, Cryptopay will allow the users to manage BTC by converting them to USD, EUR, GBP. The users are able to move their funds to other wallets and to withdraw them at Bitcoin ATMs using their Cryptopay cards.
The services are not only for Bitcoin, however, as the company also accepted Litecoin and now Ripple. Cryptopay has over 900,000 registered users and has issued 120,000 crypto cards so far. It is believed that this will drive new people to use the currency in the long term.
Ripple Prices Are Not Positively Affected
Unfortunately, Ripple is currently facing a heavy bear attack. It is the third largest crypto in the world market and it does seem to be positively affected by the acceptance of these two companies.
Almost all of the top cryptos have been losing a lot of value, though, as part of a general bear market in which the cryptocurrencies are in. XRP, however, is at its lowest price during the year. It was able to get close to $0.45 USD per token during this month but at the moment the tokens sit at $0.26 USD per XRP token.
During July, XRP was above the $0.50 USD mark and it hit $0.51 USD in July 18. However, it has been on a steady decline during August. The token has recently taken heavy losses due to the lack of interest of investors in Ripple and possibly due to the people suing the company under the Securities Act.
As the price of the token fell, it dropped below the $0.30 USD resistance line in August 12 and it has been on a bear market since then. At the time of this report, Ripple was trading at $0.26 USD with a drop of 13% in the last 24 hours.