XRP US dollar derivative at Bittrex cryptocurrency exchange jumped to trade slightly over $0.41 on August 14. However the asset retraced after some few minutes and is currently trading around $0.30 at the time of reporting.
The sudden rise in volatility is an indication the instrument is experiencing more bull pressure than it is getting from the bears.
Bittrex crypto exchange has a close relationship with Ripple in improving XRP liquidity for its ODL customers.
According to Ripple, Bittrex is at the top of the list of exchanges that it recommends, as it’s one of the most trusted, professional marketplaces for cryptocurrencies.
The sharp spike in volatility came after Ripple CEO, Brad Garlinghouse, went to his twitter page to troll one of the Financial Times reporter who accused the company of derailing from its initial mission.
Garlinghouse said the company is in course of using XRP to reduce remittance friction globally. In addition, he gave supportive financial figures indicating how the company is committed on seeing the ODL succeed.
With Ethereum already having broken its prior August highs, Bitcoin and XRP being among the top digital assets are poised to follow the path.
The likelihood of XRP market price hitting 40C in the next few days remains on a high probability.
