XRP weekly price analysis 17 August: Token’s value has enjoyed positive recovery
XRP has been seesawing higher and higher over the past few days, gaining momentum and raising its value.
- XRP endured a couple of rough spots through the week but seems to be mounting a recovery.
- Trading volumes have been clobbered over the past seven days, down by almost one quarter.
- Ripple has revealed a list of preferred digital asset exchange partners for its xRapid solution.
XRP began the week on Thursday 9 August at US$0.341. The cryptocurrency reached a weekly high of US$0.350 the same day before veering downward into the weekend and hitting a low of US$0.291 on Saturday 11 August.
The coin managed a slight recovery over the weekend, shooting up to a peak value of US$0.312. However, this didn't last and throughout Monday and Tuesday XRP lost any gains made, sinking to a weekly low of US$0.254.
Since then, XRP has been seesawing higher and higher, gaining momentum and increasing its value.
At the time of writing the digital currency is priced at US$0.296, up (2.3%) over the course of today's trade.
Trading volumes shrank by one quarter (24.7%), down from US$325.7 million to US$245.1 million.
Cryptorecorder notes that since the dip earlier in the week, XRP has been trading higher highs and lower lows. The outlook remains "slightly positive" and a break above $0.30 may encourage buyers to target higher levels.
Global blockchain company Ripple has revealed a list of three "preferred" digital asset exchanges for US and international customers conducting transactions using the firm's cross-border payments solution, xRapid. US-based Bittrex exchange will act as the company's preferred partner for xRapid transactions in US dollars, while Mexico's Bitso and the Philippines' Coins.ph will be the recommended exchanges in those countries.
xRapid processes international payments at high speed with minimal liquidity and transaction costs using XRP. The XRP token is an independent digital asset developed on an open-source digital ledger, not by Ripple Labs.
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