Simple Simple Simple Short Squeeze on XRPUSD on BTFNX has caused this. masking it all with HYPE with news on XRP and Ripple.
Half of bears already squeezed out. I think this is master-play from XRP and Ripple's insiders. they just wanted to shake off bears so released news and pumped like hell.
XRP is not Ripple. When ever we hear about Ripple or Xrapid its about technology and not about using the actual XRP token itself.
However I feel you may be misinformed about Xrapid not using XRP.
You may be thinking of the Xcurrent product that does not use XRP, which is accurate. However the Xcurrent ecosystem has nearly 200 banks signed on and are actively using to transmit money all around the world.
Ripple will be launching the xrapid service next month, which works in tandem with the xcurrent customer's current experience. It decreases the transaction cost by 40-70%.
Also they have SWELL conference coming up on October 1st.
A quick google search "what is xrapid" turns up this as the first result.
Everything You Need to Know About xRapid (Ripple’s Crypto Service Going Live “Next Month”)
Ripple has partnered with 120 banks, but none of them are yet using the XRP token.
xRapid will change that, using Ripple’s cryptocurrency XRP to settle payments.
Ripple’s Sagar Sarbhai says xRapid will go live in the “next month or so”
The Difference Between Ripple and XRP
Ripple is a company that aims to speed up cross-border payments. Ripple has partnered with over 100 banks and boasts a range of money transfer services using blockchain and cryptocurrency.
XRP is the cryptocurrency created by Ripple. It is not currently used by banks, but it’s a big part of their future plans and the forthcoming xRapid service.
no bank will agree to risk his and his clients capital by holding XRP token for long term. 50%-60% from all tokens belongs to creators. I dont buy that sorry. All good news have brought us to price dumps until nerrative became disrespectful for XRP and people short it for saying yeah of course I short it....It was a fake growth IMO and I do not exclude further pumps like this or like.