The overall crypto landscape is undergoing a correction phase due to factors such as the recent inflation report. Despite a recent 18% dip in $XRP’s price over 10 days, a surge in whale transactions and holdings indicates rising interest. This uptick among major players hints at a possible XRP price rebound.
XRP’s market performance
As of the latest update, XRP is trading near $0.6007, reflecting a 3.30% decline in the last 24 hours. However, the digital asset has delivered impressive returns of over 20% to holders over the past month.
Blockchain tracker and analytics system Whale Alert on X recently reported a substantial $50 million worth of XRP transactions in the last 48 hours across various Centralized Exchanges (CEX). Concurrently, Coinglass data reveals liquidations of positions totaling $3.50 million in the past 24 hours.
Additionally, in a video on November 16, an influencer highlighted November 19 as a crucial date for XRP and altcoins due to SWIFT’s full launch of the ISO 20022 standard. This new standard enhances financial transaction data and system interoperability.
Influencers like The Bearable Bull anticipate that this aligns with Ripple’s vision for cross-border payments and XRP’s role as a disruptor to the traditional SWIFT system. Ripple aims to promote XRP as a faster, cheaper bridge currency, and the ISO 20022 launch is seen as a key step in modernizing global financial infrastructure.
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XRP’s global significance
Renowned pro-crypto advisor Molly Elmore recently shared a report, emphasizing XRP’s global significance. In the last six months, the XRP Fair Market Valuation Report has been viewed by over 37,000 individuals more than 51,000 times.
XRP stands out among altcoins, receiving praise from various institutions, asset management firms, and banking giants. The recent partial victory of XRP against the SEC regarding the nature of its token has further fueled adoption in the dynamic cryptocurrency industry.
Investors and enthusiasts are closely watching as XRP navigates these developments, with the market anticipating potential price movements and broader impacts on the cryptocurrency landscape.