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CEO of SBI group anticipates a hike in Ripple [XRP]’s trading value by 10 times

Joel Mathew

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CEO of SBI group anticipates a hike in Ripple [XRP]’s trading value by 10 times
Source: Pixnio

Mr. Yoshitaka Kitao, the CEO of SBI group expects the value of XRP to reach $10 by the end of the year, which is an upsurge of 10 times to its current value. According to the CEO, the continuous rupturing of the market via blockchains and acceptance of cryptocurrency in trading globally will procure XRP at a great pedestal.

Reportedly Ripple has been popularised in the crypto-world due to its low transaction fees and secure holdings.

XRP is dominating the market since last two weeks outperforming the two crypto-giants, Bitcoin and Ethereum. Ripple is currently trading at $ 0.91, which is the highest of the month. The token had hit its four-month low on the 6th of April and was trading at $0.47. Nevertheless, the steady fall in price led to a heavy investment follow-up. XRP price jumped up to $0.9 on the 24th of April with a net value of $35 billion which is almost double the last weeks $18 billion.

Source: Tradingview

Source: TradingView

Last year, in an interview, Mr. Yoshitaka Kitao CEO of SBI Holdings, Japan’s prominent financial services group said that Ripple has been encouraged in Japan because of its technology which is trusted by many financial companies. SBI, Strategic Business Innovator is a financial service company that holds in Ripple and believes that by incorporating the Ripple technology, there will be a reduction in the cost of processing remittances by 33%. The company believes that blockchain technology will become a vital force in the global banking system.



Sandra Giuseppe, a crypto-critic says:

“Ripple is my favorite. 5 reasons why: First of all it allows safe and easy transactions across borders. Being in any part of the world one can feel comfortably numb and not give a shit about their holdings. Second, it’s growing at an exponential rate and since these techs are made by Japanese companies, you can close your eyes and trust them.”

Negan Sanchez, an American Reddit user says:

“I believe Kitako might not be a future teller but his company is nicely associated with Ripple, so why would he lie”





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Joel Mathew is a full-time creative content writer for AMB Crypto. He's an English honors graduate from Christ University. He's skilled in research analyses and produces valuable content in the field of blockchain and cryptocurrency.

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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