Major Ripple Adoption News Sends XRP’s Price Flying to $1.3

Ripple’s cross-border token continues to make headlines today, as its price has been on a consistent uptrend that lasted hours and peaked at almost $1.30 minutes ago.

The latest more bullish development came earlier today when a major crypto exchange listed the company’s stablecoin, which also includes a pair against XRP.

XRP’s Bullish Move

CryptoPotato listed several reasons earlier today why the popular altcoin took the market-wide revival by storm. At the time, the asset had climbed to just $1.20 on the heels of the new deal between the US and Iran announced by US President Donald Trump, which is supposed to be signed officially by the end of the week.

The other notable reasons included a substantial shift in exchange deposits as Korea emerged as a winner, and the continuous net inflows into the spot XRP ETFs.

Gate.io, one of the largest and most popular cryptocurrency exchanges, added fuel to the bullish fire earlier today by listing RLUSD, Ripple’s other token. Moreover, it added support for XRP/RLUSD on its platform, thus combining both of the company’s assets.

Strong Support Continues

The analytics company Santiment also weighed in on XRP’s impressive performance, indicating that today’s surge came after the asset’s sentiment had fallen to multi-month lows. As the analysts have noted countless times in the past, such instances usually offer the most solid trend reversal opportunities.

Furthermore, they explained that the cross-border token continues to benefit from receiving support from its largest holders.

The analysis also highlights “Ripple’s expanding institutional payment network and growing tokenization initiatives on the XRP Ledger, both of which have helped maintain long-term confidence despite recent price weakness.”

They concluded that when the aforementioned factors align, the price revivals are typically rapid and impressive.

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