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Price Analysis

Ripple (XRP) Price Analysis: Siam Commercial Bank (SCB) Locks Ripple Blockchain, XRP On Hold

  • Thailand’s largest commercial bank, Siam Commercial Bank will use Ripple Blockchain
  • Ripple earns traction against SWIFT

Siam Commercial Bank (SCB) took to Twitter to announce the integration with Ripple Blockchain. They also mentioned that XRP token would be taken up after the next announcement.

SCB quoted: We will be using Blockchain Technology for ripple, but as for XRP, you may have to wait for further announcement.

The bank is the largest commercial pool in Thailand. It has carried out many international payment trails using Ripple’s technology. The trail stated that the transaction was complete in one minute instead of taking two working days transaction time.

If SCB continues to collaborate with XRP, the result will be favorable for the investors.

Also, RippleNet network is partners with more than 200 parties of the SBI group, Japan. Hence, the price surge in XRG is expected to be bullish.

Current Statistics:

Ripple price analysis from trading view as on 24th May 2019 at 08:19:12 UTC is given below:

Ripple (XRP) Chart

  • Price of XRP is 0.380810 USD
  • ROI of XRP is 6,383.15%.
  • The circulating supply of XRP is 42,116,677,673XRP and total supply is 99,991,626,524 XRP.
  • As on 23 May 2019, 09:42:54 UTC time, market cap was 16,107.347,684 USD.
  • The 24hr volume of XRP coin is 1,584,872,322 USD.

Looking at the last five-hour trading chart, the coin touched a low of 0.372 USD, but within a matter of two hours, the coin showed a tremendous recovery by touching back the price at 0.385 USD.

XRP Price Comparison:

In the past month, the coin has increased by around 30%. On 29th April, XRP was at 0.294513 USD, however on 24th May, the price at 09:52:18 UTC is 0.382446 USD.

Talking about the last seven days, XRP has seen a high of 0.423387 USD and a low of 0.366435 USD.

XRP Price Forecast:

Ripple is presently signing many partnership ventures. As for 24th May, the price is at $0.38. The charts of XRP are showing a remarkable recovery on May 14, 2019.

If the price surge continues, then XRP will definitely touch a high of 0.45 by the end of 2019. In the coming two years, we can predict a hike of 2% – 3% in the price of Ripple blockchain coins.

Conclusion:

The ongoing business ventures in Ripple have made investors gaze over the price charts of XRP coins. After the SCB announcement, the price surge in XRP has increased. The present market situation suggests that the coin will give a huge return on dividends for long term investors.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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