Ripple’s XRP Rises on YouTube Usage News, Stellar (XLM) Follows Suit

 In Altcoins

Both assets compete for one of the most popular use cases – being coins for social media use.

Ripple’s XRP and Stellar (XLM) again rose in unison on positive news for an XPR use case. What triggered the latest price hike is the possibility for usage on YouTube as a tipping crypto coin. With new Ripple technologies unrolled, XRP may develop use cases to rival other coins and tokens in that area.

As a social media coin, XRP would compete with ReddCoin (RDD) and possibly DogeCoin (DOGE). The integration with video entertainment also competes with one of the use cases for TRON (TRX).

The integration with YouTube comes courtesy of Coil, a company that aims to bring crypto solutions to content creators.

https://twitter.com/jonsson_steven/status/1040658811147698176

In effect, XRP has been taken as a suitable digital asset for tipbots, which strays from the general idea of it being a coin held by banks and used in the financial sector. However, the news led to another price bounce.

XRP rose by more than 20.5% in the past 24 hours, adding to the big spike recorded on Tuesday around noontime. As of 7:30 UTC, XRP traded at $0.33, with volumes increasing to around $688 million in 24 hours.

Stellar, which has been called the “open source version” of Ripple, joined in the ascent as the two projects are both strong in marketing and seeking out mainstream partners. XLM added around 5.73% in the past day, regaining the $0.20 level and briefly trading above $0.21. It managed to rebound from recent lows of about $0.18 around September 12. Stellar is the project where Jed McCaleb is channeling his energy now after moving on from Ripple.

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The Ripple project keeps attracting attention with its xRapid banking solution, but there is no clear indication whether the solution would lift real-world demand for the XRP asset. The news of an official launch coming by the end of 2018 saw XRP start its recent pump.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.

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