XRP is ranked at #3 to the north of Bitcoin Cash and Tether in the market. The trading volume recorded stands at roughly $1.864 billion, and the supply has 43,242,653,330 XRP coins in play which depicts a bump in comparison to the ones circulating during the previous week. The total market cap of XRP amounts to $12.449 billion for now. The price dipped at a rate of 1.89% in the course of the past 24-hours; this led to XRP sinking all the way down to $0.287907 where it currently holds.
The bond between the Bank of America [reportedly one of the giants of the financial industry in the U.S.] has grown stronger over the span of three years. It seems that the BOA has decided to carry out tests in order to check out the limitless possibilities offered via the usage of distributed ledger technology.
? 37,000,000 #XRP (10,735,556 USD) transferred from unknown wallet to Liquid
— Whale Alert (@whale_alert) October 18, 2019
Out of this, 34 million XRP coins were transferred out of the liquid wallet as reported on the very same day. However, the situation involving the Bank of America is still in its nascent stages, as neither xRapid nor xCurrent has been employed for cross-border transactions. The BOA has customers scattered across the globe; if the partnership occurs then Ripple may dream of overcoming Ethereum in the foreseeable future.
xCurrent, which doesn’t need XRP to carry out transactions [i.e. the absence of on-chain liquidity], will probably be considered as a viable option. MoneyGram is a payments provider whose services extend to over 100 nations; their relationship with Ripple has blossomed in a span of weeks.
On the other hand, an analysis published by Ripple dictates that bots are directly responsible for rumors regarding the dump. It even states that Ripple shouldn’t be blamed for “price manipulation” and that the organization doesn’t exercise control over XRP. This is a dubious article that might undermine the credibility of XRP, as the antics of Jed McCaleb and other executives are being recorded by watchdogs.