XRP (Ripple) is approaching its annual high

By PhoenixDev | CryptoWorld - CW | 18 Aug 2020

A few hours ago, Ripple's XRP approached its annual high ($0,336 in February), hovering around $0,32. This situation can be explained thanks to the fact that Bitcoin has broken the resistance at $12,000.

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As seen in the chart, since the beginning of the week XRP has risen in value from $0,27.

The causes

The causes could be in the movements that Ripple is in lately. For example, the Financial Times reported last week that Ripple was redirecting its business to become the "Amazon of payments."

Although this could be interpreted as a change in the company by not having positive results due to the low adoption of its technology, it was the CEO of Ripple himself, Brad Garlinghouse, who communicated that Ripple was growing and that solutions based on the blockchain for the world of traditional payments it would be a success.

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