XRP (Ripple) Pumps 170% In November (3 Reasons Why)

xrp's price has skyrocketed almost 170 in november of this year as a result a lot of people have been asking me questions about xrp's performance there have been several factors that have been playing into xrp's sudden rise in value those factors are not only updates that have to do with what is going on with xrp internally but the factors that affect the price of xrp also have to do with changes in the global world order of course we know that in 2020 there was a lot of shifting on a larger mega scale so now you might be wondering what does all that shifting have to do with xrp well you're in luck because that's what we're going to talk about today in addition to some new updates on the ripple network and why they could lead to a renaissance of the xrp price let's get it bitswap is the hottest new way to trade tokens probably all the top decentralized exchanges biswap gets you the very best price and value for your trades bitswap is changing the game try it now at bitswapdex.io welcome to bitboycrypto my name is ben everyday i show you how to make money in cryptocurrency if you like money and hit that subscribe button and also be sure to head on over to the bit squad youtube page for even more behind the scenes crypto action this is a new youtube account where we'll be sharing a lot of stuff about bit boy crypto but you guys came here for this video and in this video we're going to be talking about a lot of the upside ripple has over the next bull run obviously at this point we know that the banks love ripple however that's not what really drove the price of xrp up 170 in november in fact the banks are having a tough year so an announcement one doesn't do as much as it would have before xrp's meteoric rise occurred for several other reasons so those reasons were more basic partnership announcements however what is really exciting about ripple is that the network is about to make one of the biggest updates ever yes on december 12th a new blockchain called the flare network and its corresponding spark token will launch this brand new update has speculators very excited of course how long that excitement will last is another story however for now it's safe to say that all xrp huddlers are getting excited about the spark token airdrop the number of spark tokens that xrp holders receive will be directly correlated to the amount of xrp being held at the time of the airdrop smart token is the native token of the flair network a new blockchain network based on the flare consensus protocol flare network integrates with the ethereum virtual machine to provide advanced smart contracts on the xrp network flair network is planning to build a new two-way bridge that connects xrp to the ethereum ecosystem such a novel idea for a bridge to go two ways this bridge will allow xrp on the fire network according to a series of tweets from flair network these tokens known as fxrp can be used within the ethereum network while at the same time providing a scaling platform for ethereum tokens and applications wilts giving access to the xrp market for existing ethereum applications also another use case of fxrp is for people that hate xrp to write on signs and t-shirts in addition to this massive update there have also been several partnership announcements throughout 2020 that kicked ripple into high gear this nearly 170 gain in the past month might be just a taste of what xrp's price has in store for the future however a swift replacement for xrp is old news that's true it's only the tip of the iceberg for what xrp has been up to that's right november and december 2020 have been especially big months for ripple it signed deals one of the largest banks in the world and the team also had a nice liquidity event after they saw their moneygram stock investments triple in just a few short months on a side note liquidity event is a good name for a kid's swimming pool party now let's unpack those new ripple and xrp updates a little more thoroughly first off according to a crypto news flash article from november bank of america had officially joined ripple net as a client of course we know that ripple net is ripple's payment network for enterprise banking yes bank of america has secretly been a part of ripple's global payment management group since 2016 with several major leaks revealing the partnership occurring almost yearly while this is huge news it's not the only big partnership for the company and we already know that xrp has been working in partnering with moneygram they have a stake in the company during the initial two-year term of the partnership moneygram will use xrp and foreign exchange settlement as part of moneygram's cross-border payment system also as part of its partnership ripple purchased 30 million dollars in moneygram stock however despite that ripple did sell 15 millions worth of that stock in december of i don't 2020.

But given the fact that the stock went up 3x since ripple first bought it i wouldn't be far too concerned about the sale personally no don't lose sleep over ripple selling money gram shares they would never dump assets that's like being upset that netflix sold its vhs tape collection bigger things are to come two worlds colliding which will make one brave new world you guys need to know which world is coming which one is going now that might keep you up at night if you ponder about it too much but hey if moneygram and bank of america partnerships weren't enough doesn't stop there ripple also announced that it would be entering the blazing hot crypto lending space the announcement unveiled ripple's plan to roll out a capital lending platform this new lending platform has been beta testing a line of credit this is a significant advancement for the company because everyone knows that the loan and credit space is a super lucrative one with this new platform eligible customers will be able to purchase xrp directly from ripple on credit and just like any other loan borrowers will be charged a fee on the amount of xrp that is borrowed so what do you guys think do you think all these major bank partnerships and other partnerships are driving the price of xrp up or is it the anticipation of the flare blockchain unveiling and spark airdrop what do you guys think about ripple labs selling a huge portion of their holdings in moneygram stock you guys think that's a good thing let me know down below that's all i got be blessed [Music] you

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