XRP pumps after American Express blogpost (from 2018...)

06 Jul, 2019
by David Robb
XRP pumps after American Express blogpost (from 2018...)

XRP pumped slightly today, going against the trend of the rest of the market. Some observers have suggested that it could be related to a blogpost on American Express's website, which was shared today but dated back much further.

The post, entitled 'Ripple: A More Radical, Blockchain-Based Approach', was shared by a prominent member of the Twitter-based 'XRP army'. The community is dedicated to all things Ripple and XRP-related.

In the article, American Express discusses the potential of Ripple's remittance technology. The final sentence, described as "poetry" by one XRP diehard, suggests that XRP could make money move "as freely as e-mail".

Some appeared to take this post as an indicator that American Express was considering partnering with Ripple or perhaps making use of XRP or its xRapid system. XRP saw a slight pump of around 5 percent in price. Although XRP generally moves slightly independently of BTC and other altcoins, and the size of the pump could be explained by mere technical factors, many believe that the American Express connection was enough to pump XRP.

However, the article in question was in fact published almost a year ago. No further announcements about a collaboration between American Express and Ripple have been made since then. So it appears that the price pump may have just been some very short-term FOMO from a passionate and dedicated, but often misguided, XRP community.

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Read more about: Ripple (XRP)


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