The last two weeks haven’t been particularly great for Ripple’s major payment solution, xRapid. When Bitso and Coins.ph were busy registering impressive volumes, adherents of Ripple’s digital asset-oriented payment getaway were witnessing a dip in its volumes. The two autonomous corridors were recording a 14-day high.
This was revealed by a Twitter user who goes by the name @BehindTheLedger who said the levels registered by xRapid had taken a dip compared to what they had achieved earlier in April. The 114-character tweet further added that xRapid’s volumes were a sharp contrast to those of Bitso and Coins.ph.
To further emphasize the contrasting results, @BehindTheLedger shared a chart within the Tweet, explaining their mixed fortunes. The Thread was later followed by another tweet which stated that the data had been obtained from http://xrpgraph.com, a site that had first captured the mixed fortunes.
From the chart, however, xRapid volumes had peaked on April 11th and subsequently surpassed it. Coins.ph’s xRapid volume reached $77,000 unlike Bitso’s $28,000.
A Twitter user by the name @hmatejx followed with another tweet that seemingly explained the genesis of the slump. According to the tweet, the two had transferred $2.5 million across borders from March 2019, and there was a need to factor in the “weekend gap” as well as the active business hours. To @hmatejx, Bitso and Coins.ph were doing well because they had used Ripple’s xRapid payment.
It’s clear though the arrival of Ripple’s; xRapid was long overdue. It uses XRP and, by extent, this has caused XRP holders to expect a price increase, especially once this payment getaway registers sufficient volume moved to and from the borders.
The two Tweets, plus @Bearableguy123’s sentiments, clearly explain why many expect the price to hit $589 before the year ends. However, not everyone is in agreement.
@GG81942496 sharply disagrees and even doesn’t trust the predictions. He says that the price of XRP would not rise and instead, excuses ranging from regulations, effects of the Chinese New Year and the Taxes and many others would stop the price surge.
@Crypt0_prophet, however, believes that the price is based on speculations and the $2.5 million traded in two months was just the tip of the iceberg.