Sunday’s have always been tricky for the Crypto markets. This might be because many traders have witnessed heavy decline in volume in the markets on Sundays. Looking at the markets today, one can sort of confirm this theory. Bitcoin (BTC) if still at levels above $9,000 and trading at $9,294 and down half a percent in 24 hours. Ethereum (ETH) is experiencing some sideways movement at the current level of $676 and Ripple (XRP) is at $0.85.
However, if the current news received by Ethereum World News is confirmed, then this might not be the case for too long for our beloved Ripple.
The Crypto-verse has been aware for quite some time that the SBI Holdings company that hails from Japan has been a major crusader and proponent for Ripple from as far back as we can remember. We also know that the SBI Holdings is planning on launching one or maybe two cryptocurrency exchanges with Ripple trading as the pillar of the exchange.
Initially, SBI was to partner with Huobi for two exchanges but the deal fell through due to the now strict regulations in Japan with crypto exchanges. SBI decided to go at it alone in the venture of creating its crypto exchange dubbed SBI Virtual Currencies. The reason for doing this was to enhance security for the project.
This project now is being speculated of being released sometime in the Summer of this year. Also to add is that the exchange might have direct XRP/FIAT pairing with major currencies in Asia. This means that the good countries of South Korea (Won) and Japan (Yen) will have the opportunity of trading directly using XRP.
Also to note is that a majority of XRP HODLers and traders hail from these two countries in Asia. As a matter of fact, 3.5 Million Japanese are estimated to be actively trading in crypto with XRP as one of their favorites. With reference to South Korea, we all saw their influence in the markets when their government officials started musing about banning crypto trading and regulation earlier in the year. The markets tanked seriously.
It is therefore safe to conclude that once the SBI Holdings exchange is confirmed to being released this summer and having the XRP/FIAT trading pairs mentioned above, that it is indeed possible to see a $10 per XRP before the year ends. Time is the only factor in this realization for XRP.