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.
Earlier this week, Ripple added a top 10 US bank and one of the biggest banks in the Middle East to RippleNet.
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
Ripple Reveals Successful XRP Pilot Program With Banks Around the World
Royal Bank of Canada Says Ripple and XRP Can Save Financial Institutions 46% Per Payment
You Can Now Accept XRP on YouTube and Twitch
Ripple Adds Top US Bank With 8 Million Customers, Provides Option to Leverage XRP
Ripple Breakthrough: New Crypto Fund for Institutional Investors Includes XRP
Billions Worth of XRP Transferred in Seconds, Fees Less Than a Penny – Is Ripple the Big Fish?
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