XRP Skyrockets 64% in 24 Hours, as Ripple’s Cryptocurrency Passes Ethereum (ETH) to Become World’s Second Largest
The price of XRP has now surged more than 64% in just 24 hours and now stands at about 60 cents, according to the latest data on CoinMarketCap.
The huge run has dramatically increased the coin’s market cap, and XRP has now passed Ethereum to become the world’s second biggest cryptocurrency.
XRP is riding high on a series of positive news announcements in recent days.
The company’s network of banks and financial institutions use Ripple’s blockchain technology to make real-time payments – including the option use the company’s software solution xRapid to leverage XRP for instant transfers.
As for when xRapid will go into full production, Ripple’s head of regulatory relations for Asia-Pacific and the Middle East announced that it will happen “in the next month or so.”
Ripple currently owns 60% of the total supply of XRP, with 91% of that investment locked in escrow.
The Ripple Beat