Ripple has surpassed the Ethereum market capitalization and now it is the 2nd largest cryptocurrency with the market capitalization of around 25 billion USD while ETH has the market cap of around 23 billion USD.
Ripple price has increased more the 150% in the last one week. In the last 48 hours, Ripple surges by around 70% and crossed $0.60, which created an immense zest in the crypto space after Ripple’s Sagar Sarbhai- head of regulatory relations for Asia-Pacific and the Middle East at Ripple, announced the launching of the new product xRapid by October, which is aimed at helping banks speed up transactions by using the cryptocurrency XRP. Soon after that, the social media activity of the keywords XRP and Ripple increased significantly.
Marcus Treacher- the global head of strategic accounts at Ripple, recently revealed that RippleNet has experienced rapid expansion throughout 40 countries, deploying a transparent and faster payments system internationally.RippleNet’s newest corridors have a combined potential market of over $2 Billion in inflows over the last year.
A combination of RippleNet’s rapid growth, Ripple’s announcement of launching xRapid in October, and a short-term trend reversal showcased by the crypto exchange market led XRP to surge by such a huge margin, that too in such a short time frame.
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