The renowned San Fransisco-based cryptocurrency project, Ripple [XRP] surges 17% today. All of the coins have been showing the green signal today, experiencing a surge. Ripple [XRP] is the native cryptocurrency digital asset token of the renowned blockchain-based global payment services provider company, the Ripple Foundation. Ripple [XRP] is overtaking all the renowned cryptocurrencies and digital asset tokens when it comes to surging today.
The Ripple Foundation’s native cryptocurrency digital asset token, Ripple [XRP] showed a total price surge of 16.69 percent. In the past 24 hours, all the popular cryptocurrencies and digital tokens are experiencing a surge in their pricing. Furthermore, only Bitcoin (BTC) and Tether (USDT) are not lagging behind.
More about the surge in the pricing of Ripple [XRP]
Experts are weighing in that the price surge might be a result of the Ripple Foundation’s expansion into the Middle East. The blockchain company is opening its office in the United Arab Emirates (UAE). Furthermore, financial groups and institutions in the renowned Middle Eastern countries like the Saudi Arabia, Oman, Kuwait, and Bahrain are already on the Ripple Foundation’s blockchain ecosystem, the RippleNet network.
Some other renowned cryptocurrencies that witnessed the price surge are Ethereum (ETH) which was up by 1.52 percent at $211, and Litecoin (LTC) up by 1.45 percent at $54.54.
Report suggests that Ripple [XRP] will experience a bullish move
A report by the crypto data analytics and research firm, Picolo suggests that Ripple might soon be on the bullish move. They predict that Ripple’s direct sale of their native cryptocurrency XRP will increase a 481 percent. These conclusions were reached after analyzing the data of this year’s Q3 Reports from the crypto firm. This would take the sales from $16 million to $98 million.
Furthermore, this would mean that the company will witness a price surge of 289 percent.
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