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XRP Builds Momentum With 7% Increase As Ripple Expands

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Ripple XRP XRPUSDT

XRP has been soaring in the monthly chart with a 7.2% profit as Ripple continues to expand its corridors worldwide. As of press time, the seventh crypto by market cap trades at $1,01 and records a 10.3% correction in the daily chart.

XRP correcting in the daily chart. Source: XRPUSDT Tradingview

XRP seems to be reacting to the general trend in the market as Bitcoin, Ethereum, and other cryptocurrencies in the top 10 by market cap trend to the downside. As NewsBTC has reported, the derivatives sector has been heating up due to the recent rise in the aforementioned coins.

Related Reading | SEC Takes Blow In Action Against Ripple, Will It Impact XRP Price?

Historically, this has taken a toll on the bullish momentum built by the bulls. In the case of XRP, it’s a positive sign that it has been able to sustain gains in higher timeframes.

The sentiment around XRP has flipped bullish since Ripple has been able to sustain and push back against the U.S. SEC in their case for the alleged sales of a security.

In addition, the payment corridors, one of the most important use cases for the XRPL Ledger and its native token, are recovering. These entities use Ripple’s payment solution On-Demand Liquidity (ODL), based on XRP, and were negatively impacted after the SEC filed for their legal action.

The Liquidity Index Bot, an ODL payment corridors monitor, records an increase in the daily volume for these entities. As seen below, the XRP/AUD payment corridors show some recovery after it went negative in May 2021.

Ripple XRP XRPUSDT
Source: Liquidity Index Bot via Twitter

Other payment corridors record a similar or a more significant increase. Since they are based on ODL, the volume registered by these entities is indicative of the levels of adoption for XRP and suggests the token is experiencing a re-surge in demand.

Related Reading | Ripple Surges 15% Following News That It Wants To Go Public

XRP Debuts In MENA Region, Ripple Enable More Adoption

In the coming months, the demand for the token could continue to surge as the payment solution company recently announced a partnership with Pyypl. The partners will launch a new payment corridor in the Middle East and North Africa (MENA) region.

Data shared by the payment company reveals that the MENA region saw $78 billion in remittances in 2020 alone. Thus, why the partnership could onboard millions to the XRPL Ledger and ODL as countries such as the United Arab Emirates (UAE) and Saudi Arabia “shift to digital” payment methods.

Related Reading | Ripple Announces New Payment Corridor in Japan As XRP Rallies 23.5%, More Profits Ahead? 

The collaboration will start in the UAE to bring low-cost and instant remittances for people living in and outside the MENA region. Ripple claimed the following about the potential for the partnership:

This announcement builds on Ripple’s already growing presence in the region (…). All of this is driving a record year for Ripple in MENA, with RippleNet already logging four times the transaction volume year-to-date versus all of 2020.

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MANA, SAND and ENJ Price Levels on a Decline

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MANA, SAND and ENJ Price Levels on a Decline
  • Top-tier digital assets see double-digit declines.
  • Metaverse’s market value is now $51,324,502,982.

On Tuesday, a block of virtual property in Decentraland sold for a record $2.43 million in crypto, more than doubling the previous high of over $913,000. Some metaverses already accept cryptocurrency payments. Due to the usage of crypto, all virtual transactions are both spontaneous and safe.

The market is increasingly slipping towards metaverse-related initiatives. In contrast, top-tier digital assets see double-digit declines. Geeks from the metaverse community consistently buy dips for larger up-cycle returns.

Despite the lacklustre crypto market, the burgeoning business has recently accelerated. The burgeoning sector has spurred NFTs and industry-related initiatives. However, the market charts currently show red signs. Metaverse’s market value is now $51,324,502,982, up 0.81 percent. 30.49 percent reduced trade volume at $21,476,163,938.

Decentraland (MANA)

MANA is now trading at $4.38, an 11.6 percent drop, according to CoinMarketCap. The digital asset’s market cap is $7,994,309,751. Last 24 hours trading volumes are $3,795,643,318. Over the last 24 hours, the coin has traded between $4.39 and $4.96. MANA had reached an ATH of $5.90 two days before.

MANA/USDT: Source: TradingView

The Sandbox (SAND)

SAND is now trading at $6.24, a 13.2 percent drop, according to CoinMarketCap. The digital coin’s market cap is about $5,555,287,680. Rather, the 24-hour transaction volume is $5,002,280,565. Since the previous day, SAND has moved between $6.32 and $7.45 The ATH was registered for $8.51 two days prior.

1638019596 574 MANA SAND and ENJ Price Levels on a Decline
SAND/USDT: Source: TradingView

Enjin Coin (ENJ)

ENJ is now trading at $3.67, down 10.2%, according to CoinMarketCap. ENJ’s market cap is at $3,078,676,361. Moreover, the trading volume is $873,890,075. Similar to its competitors, it reached its ATH of $4.85 the two days before. Since the last day, it has been trading in the $3.60 to $4.08 zone.

1638019597 70 MANA SAND and ENJ Price Levels on a Decline
ENJ/USDT: Source: TradingView
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Ankr (ANKR): Top Crypto Gainer of the Day

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Want To Be a Crypto Millionaire in 2022? Consider These Top 3 Coins!
  • Ankr’s (ANKR) token soared over 2,500 percent in early 2021.
  • The Ankr project has increased the use and demand for the ANKR token.

Ankr is a high-performance computing platform designed to let developers and corporate customers construct blockchain nodes faster and cheaper than public cloud providers. Using the Ankr network, public blockchains may swiftly decentralize and secure their networks.

Investors may question what comes next with Ankr’s price up over 2,500% in 2021 and 11,000% since creation. Walletinvestor and DigitalCoin forecast an optimistic Ankr future price based on its synchronic performance. Its powerful technology, significant market value, and rising cryptocurrency market momentum appear to make it a top-traded cryptocurrency.

Massive Return on Investment

Ankr’s (ANKR) token soared over 2,500 percent in early 2021 on the cryptocurrency wave. Ankr has a market worth of $988m as of 25 November, making it one of the best-performing cryptocurrencies of the year, and market capitalization ranks it 111th most valuable cryptocurrency. It slid to $0.049 during the summer, but a spike at the end of October pushed it back up to $0.12.

Ankr ANKR Top Crypto Gainer of the Day
ANKR/USDT: Source: TradingView

The Ankr project has increased the use and demand for the ANKR token, causing the price to rise. The ANKR token, like bitcoin, may benefit from scarcity, making it an attractive low-cost crypto investment.

There are now 8.16 billion ANKR tokens in circulation, with a total supply of 10 billion coins. As the supply cap approaches, purchasers may acquire the token. Coinbase introduced ANKR coins to its exchange in March. Due to its rigorous regulatory and compliance policies, the exchange seldom adds new coins to its list. This action illustrates Ankr’s digital token strength and the technology that powers it.

According to CoinMarketCap, the Ankr price today is $0.186233 USD with a 24-hour trading volume of $2,560,428,171 USD. Ankr is up 30.17% in the last 24 hours.

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Shiba Inu (SHIB) Lead Developer Tweets an Egg Emoji, SHIB Army Excited!

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Shiba Inu Cheers Up for Crossing 1M Wallet Holders