The past few months have been interesting for XRP community members and the Ripple company. There is still the ongoing SEC lawsuit, which doesn’t appear to be near its conclusion. However, the XRP price is holding its own and might bet back to $1.5 rather quickly.
XRP Price Momentum Holds Strong
It is good to see different crypto markets move up during a weekend. More often than not, markets turn bearish on Saturday and Sunday for no apparent reason. Today seems a bit of a different day, although not all markets move up in unison. XRP Price watchers will be happy with how things are going right now, as today’s 11% price increase is more than respectable. Sustaining the rally will prove challenging, though.
More importantly, XRP is gaining ground on Bitcoin. The XRP/BTC ratio notes a 10.7% increase as well, which is crucial for alternative currencies. Without gaining ground on Bitcoin, USD-based trends are likely to stall rather quickly. There is also a hefty trading volume of over $8 billion, which can help the market move a bit higher moving forward. Unfortunately, the 30d trend is still relatively neutral, indicating that the battle ahead may be tough.
xPop Introduces Offline XRP Ledger Transactions
It is intriguing to see XRP transactions being initiated offline through QR codes. The XRP Ledger Labs team has come up with this solution. Removing the need for an internet connection when broadcasting over the XRP Ledger is a big breakthrough, as it unlocks a lot of new use cases. Various regions of the world have little or no internet connectivity, after all.
Although xPoP is now still in the prototype stage, you should not underestimate the potential of this technology. XR Ledger offers native Proof of Payments support, and offline functionality is an appealing use case. That means it can be used with vending machines, public transport, and so forth. It may not impact the XRP price right away, but it is something to keep tabs on.
Qatar National Bank And Ripple
Partnerships and cooperation efforts are still essential to the future of Ripple and the XRP price. For example, a new partner has been found in Qatar National Bank to enhance cross-border payments. For now, the partnership will seemingly not involve the use of XRP as an asset, although that situation can change in the future. Every bit of positive news is welcome, and this development is rather welcome for Ripple.
Uphold Supports The Songbird Distribution
XRP Holders waiting for the Flare airdrop have to wait for Songbird testing to complete first. Once that stage completes, XRP holders will receive an SGB airdrop, for which the snapshot was taken some time ago. Uphold is one of the exchanges that will support the SGB distribution, ensuring users can access this token without moving funds to a different wallet. Withdrawal of the token will occur later this month, and trading support will go live later on.
Ripple vs SEC Lawsuit Continues
The biggest story in the Ripple universe is still the ongoing SEC lawsuit. Although it seemed as if things would improve, the case is still ongoing. In a recent development, the SEC requested something that may prove incompatible with Federal Rules. It appears as if the SEC is grasping at straws right now, although they can keep extending this case for some time to come. It doesn’t impact the XRP price all that much, although a resolution to the case might trigger some market excitement.
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