Christmas day was a day of jolly for the XRP community as well as eToro, a multi-asset fintech brokerage company. On December 25, eToro announced that XRP will now be supported on the eToro platform, a news that users were expecting for a long time.
eToro has also enticed the XRP community by revealing that for a limited amount no fees will be charged for both XRP wallet creation and XRP coin transfer. In an official blog post, eToro said:
“Current minimum transfer amount is 133 XRP. Coin transfer is available for Gold users and above in countries where the eToro Wallet is available (to check local availability, please refer to your app store).”
The company has also informed users that the services are only available for users who have deposited their assets using a wire transfer with the possibility of more payment methods to be added soon.
eToro has also stated that there are several advantages in choosing the platform, with the focus being on licensing, regulation, simplicity and security of funds. One of eToro’s major point of discussion is the fact that it is one of the first companies in the world to obtain a license for crypto assets. The organization has gone ahead and offered features to customers, which are intended to increase the user base. Some of the features outlined in eToro’s release are:
“The first 25K users to open an XRP wallet will receive the wallet for free – and will not be required to pay the XRP wallet cost which is 45 XRP*Coin transfer is available for Gold users and above in countries where the wallet is available. The promotion will apply until 31.1.2019”
The addition of XRP has not gone without any incident on social media platforms, with many outraged users attacking the company’s approach towards the whole process. Tiffany Hayden, a prominent member of the XRP community tweeted:
“Social pressure is my only superpower and it didn’t work. @eToro doesn’t care, they don’t have your $XRP, and they are lying to you. Either find a way to remove yourself from their platform or accept the consequences. There is nothing I can do. I’m sorry.eToro is dead to me.”
Tiffany Hayden was also joined by other members of the XRP community, with Luke Roberts, an XRP fan saying:
“Dear @eToro @eToroService – whilst we thank you for setting up an e-wallet, the #XRPcommunity bought real #XRP coins using our hard earned $ via debit/credit cards. We cannot withdraw our coins unless we send a wire payment, rendering this wallet & all initial offerings useless!!”
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XRP interest on the rise as analysis shows formation of a ‘quadruple bottom’
The cryptocurrency market has been subject to a significant bull run that has not only catapulted the prices of digital assets, but also their corresponding market caps. XRP, the third largest cryptocurrency, had more of a rollercoaster ride rather than the sudden surge enjoyed by Bitcoin, with the coin trading at a 6-month high, at press time.
A recent analysis conducted by DonAlt, the popular cryptocurrency enthusiast, pointed out the dips in the one-day chart of XRP. His tweet read,
A lot of interest in XRP. Kind of looks like a quadruple bottom / head and shoulders.
Not the biggest fan of longing those. If there is one lesson 2018 taught everyone is support is only support for so long.
I’ll be watching this one from the sidelines.”
There was also speculation that it was a good time to buy into XRP when there is a violent reaction at the lows, while going long previously was a risky decision. Previous readings of the XRP graph have shown that any squeeze in the XRP graph will result in a full retracement. Since May 2019, the cryptocurrency grew from $0.28 to the current trading price, which was more than a 100 percent increase.
At the time of writing, XRP was trading at $0.467, with a total market cap of $19.89 billion. The cryptocurrency was growing at a rate of 1.13 percent, with a 24-hour market volume of $42.57 billion.
XRP was in the news recently after its related application, XRP TipBot, came back online after a small downtime. Wietse Wind, creator of XRP TipBot, had tweeted,
“Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry!”
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