XRP Kicks off the Week with a Bang, Experts Expect More Sparks Ahead
- XRP goes from $0.194 to $0.223 but is currently in red by 1.50%
- Binance launches XRP/USDT futures contracts with up to 75x leverage
- Ripple partner MoneyGram’s online transactions increased by over 70%
- Kuwait’s largest lender launches “NBK Direct Remit,” will use RippleNet
- Experts call for more upsurge, “$589. Or I will eat my dick!” says Mati Greenspan
On January 3rd, XRP was trading at $0.185. On Jan 6, the digital asset went surging, going from $0.194 to $0.223.
This spike in XRP price was the result of Binance launching XRP/USDT futures contracts with up to 75x leverage. The digital asset is the fourth crypto asset to be added on Binance’s futures trading platform apart from BTC contracts with a leverage of up to 125x and 75x leverage on ETH and BCH contracts.
In 2019, Binance Futures registered 99,090,000,000 USDT in total trading volume, “witnessing the continuous growth of retail and institutional investors.”
MoneyGram’s Online Transactions Increased by over 70%
Another driver behind this surge has been Ripple partner MoneyGram announcing on Monday that its online transactions increased by more than 70% during the holidays on a year-over-year basis, with 80% initiated on a mobile device. MoneyGram’s redesigned app launched in late 2018 has over 1.6 million downloads.
This record-breaking online transaction growth occurred between Dec.1 and Dec.25. Outside the US, this growth has been about 120%.
“As part of our digital transformation, we're on a mission to mobilize the movement of money,” said Alex Holmes, MoneyGram Chairman and CEO adding, “The success of our mobile app throughout the year, and especially during this holiday season, demonstrates the value consumers place not only on our user experience but also on our global distribution network.”
Kuwait’s largest lender using RippleNet for its latest Launch
The National Bank of Kuwait (NBK) has launched “NBK Direct Remit” for limited cross-border remittance for which it would be using RippleNet.
This new service will be available for customers to make live payments to Jordan and soon to other countries as well. NBK has a presence in London, Paris, New York, Geneva, Singapore, and China and regionally in Turkey, Iraq, Saudi Arabia, Bahrain, Egypt, Jordan, and UAE. Marcus Treacher, senior vice president, customer success, of Ripple said,
“NBK is an important partner in the region, and we’re excited that they have begun moving live payments across our blockchain network on behalf of their customers.”
More Upsurge Expected
After seeing the greens, today XRP price turned red, recording 1.44% losses in the past 24 hours. But crypto commentators expect more action from the digital asset.
$XRP flexing with a double digit daily candle, something we haven't seen in a long while.
Question is, if this is an outlier, or an indication of what lies ahead of other majors.
My money's on the latter. pic.twitter.com/uZyh76zvnM
— Hsaka (@HsakaTrades) January 6, 2020
Analyst DonAlt is betting on the XRP price to go higher, as high as $0.502.
Finally hit my long term target, I bought (& posted about it) a few days ago but want to start a solo thread for it.
Long term support with XRP haters gloating at all-time high is good enough place for me to gamble on a swing long position. pic.twitter.com/5hCqQfKSZ7
— DonAlt (@CryptoDonAlt) January 6, 2020
Talking about altcoins like Bitcoin cash (BCH), Litecoin, Ethereum (ETH), and XRP, he said,
“Slow start but that's to be expected, bulls are still battle-scarred and bears still pile on every SFP they see. I'll give it all some time to move.”
Mati Greenspan, founder of Quantum Economics meanwhile took a jab at John McAffee who backed out on his $1 million BTC price prediction by the end of 2020 by calling for the much controversial $589 price prediction for XRP.
“$589. Or I will eat my dick!” said Greenspan.