On Monday, the XRP token from Ripple experienced a surge in its price, bringing it over the $0.50-mark. Though theories bounced around the community for a while, it soon became clear that this increase was most likely due to a post on Twitter.
We’re working on it!
— Wirex (@wirexapp) November 5, 2018
Wirex posted that they would be releasing their prepaid cards within the United States soon, which would let the US users “instantly buy and convert” multiple tokens into USD. Among the tokens listed were BTC, LTC, ETH, and XRP. When one user asked Wirex if these tokens would end up working on Apple Pay, Wirex replied, “We’re working on it!”
The suggestion of being able to use Ripple’s XRP tokens for Apple Pay would be important for the platform and for the numerous users in its database. With a few hours of the post, XRP went from $0.46 to over $0.50, but the difficult part became keeping that position. Though the concept of using XRP on Apple Pay is still in progress, the community saw this response as a confirmation.
Unfortunately, even with the immense support from its own community, skeptics seem to attack Ripple and XRP at every corner. XRP has a proclivity for these brief pumps in price, only returning back to the former level when the heat wears off. Still, considering the constant presence that XRP and Ripple have in social media, the community holds the power to push the token beyond its current level.
In the early hours of November 6th (Tuesday), XRP was holding its ground at spot #2 with CoinMarketCap. However, as of 11:51am PST, XRP is back down to #3, as it usually is. However, it has maintained the price above the $0.50 level, presently trading at $0.526409, which is 9.08% higher than 24 hours ago.
It is possible that the surge in trading with Ethereum was simply delayed after the Twitter post, considering the support and activity surrounding the XRP community. The market cap between the two coins is less than $1 billion, so the XRP community still has time to rally.