In recent developments, Ripple appeared unperturbed about the possible outcome of its protracted lawsuit with the United States Securities and Exchange Commission (SEC). The cross-border crypto firm has continued to grab headlines in the crypto sphere with its salient moves to propel XRP’s growth further.
In the latest update, proponents seem to speculate that the cross-border token’s growing prominence might soon extend into the Middle Eastern country of Iraq.
Origin Of XRP’s Latest Sentiment
XRP’s newest bullish sentiment reportedly stemmed from a tweet about XRP’s growing popularity by a pseudonymous Twitter account that goes with the screen name Boncryp Digital Asset Advocate.
🔥🔥👇🏻👇🏻
*You can clearly see #XRP Paired with #IQD in a #forex site.
*After two decades #Iraq is at last showing signs of recovery, #Baghdad, the capital, is creating a New Central Bank (#CBI) Headquarters. #XRPCommunity pic.twitter.com/Gaz5K5piiZ— Boncryp Digital Asset Advocate (@boncryp) July 4, 2023
From what we could gather from the tweet, the Twitter user appears to call followers’ attention to a pair on a forex trading platform featuring XRP against the Iraqi dinar (IQD), implying that the Iraqi government could be tending towards adopting financial inclusion for its citizens.
A Closer Look Of The Data
Based on a more in-depth study of the shared chart, we discovered the chart was curled from Barchart.com, a top financial data firm with a wide range of services, focusing on investments and financial markets.
In addition, the financial firm is well-equipped with a comprehensive collection of crucial financial market data ranging from charts, quotes, market analysis, and technical indicators; this impressive set of data has made the availability of an XRP/IQD possible in addition to hosting IQD quotes against other crypto assets such as BTC and ETH.
Read Also: Ripple CTO Responds to Allegations that Ripple Paid Six Exchanges $1M – $5M to List XRP
Implications Of The New Development
XRP/IQD’s existence on forex sites like Barchart.com might not necessarily indicate tremendous progress. However, it could manifest XRP’s rising recognition in the crypto sphere, especially in places where IQD got widely adopted, expanding and diversifying market and trading opportunities.
Meanwhile, despite the strict restrictions on crypto activities by the Iraqi government, in 2017, cryptocurrency projects seemed to creep into the nation. The emergence of brokers like Kurdcoin has made XRP and other crypto assets readily accessible to the nation’s citizens.
A testimony of XRP’s penetration of the Iraqi market is data from Google Trends, exposing a spike in XRP interest among the Iraqi populace in late June.
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