XRP Is Set To Explode In 2021! Here’s Why!
Why Ripple is going to explode in 2021?
Ripple (XRP) is a cryptocurrency platform and a currency. The Ripple (XRP) protocol is designed to allow quick and cheap transactions. Ripple has formed a host of partnerships with some of the biggest companies in the world. These partnerships are in line with Ripple’s efforts of pushing for the mainstream adoption of its native currency, XRP. Since the beginning of the year, Ripple has entered into several partnerships.
Ripple is already the preferred platform when it comes to cross border transactions. XRP can be referred to as a bridge currency. It does not discriminate between traditional fiat currencies or other cryptocurrencies. This makes it extremely easy to exchange one currency for another.
Ripple is already available in more than 40 countries and has tied up with over 200 financial institutions. Ripple has enabled banks to offer payments in new markets that were previously difficult to reach. Financial institutions have considerable incentives to tie up with Ripple. It offers them a new source of revenue by giving them access to new markets. Transaction costs are lower and have fewer liquidity requirements.
Ripple has recently announced a tie-up with ETH Zurich, Ryerson University, and the Instituto Tecnologico Autonomo de Mexico (IATM). The platform is also working alongside the University of Zurich to create the world’s first interdisciplinary research centre in the DeFi ecosystem.
XRP is also poised to see soaring growth thanks to a highly anticipated airdrop scheduled for December 12. Most experts predict that Ripple and XRP will see considerable growth over 2021.
Recent News After SEC Lawsuit
- Ripple price is up by 136% in the past week after a massive rally.
- Credible reports suggest that Ripple lawyers have done really well with the SEC lawsuit.
- XRP now faces significant selling pressure, but the number of whales continues to rise.
The MVRV ratio (30d), a metric that shows the average profit or loss of XRP tokens moved in the last 30 days, is extremely overextended. It almost touched its highest peak since November 24, when Ripple price exploded by 200%. This indicates that XRP is at significant risk of a major correction, adding credence to our theory above.