Ripple Prices Surge to 4-Month High
The price of Ripple's XRP token surged to a more-than four-month high overnight, sparking trader notice.
The price of XRP, the cryptocurrency of the Ripple network, surged overnight, climbing to its highest total in more than four months.
XRP reached as much as $0.008288 at 16:44 UTC on CoinMarketCap, which represented a roughly 13.7% gain for the session and the highest price since mid-November, data reveals.
In statements, Ripple gateway operator Rafael Olaio noted that he believes the new boom is a result of the ongoing gains observed in the broader digital currency market, a development that has coincided with new volatility in the bitcoin market.
Olaio told CoinDesk:
The operator of a decentralized distributed ledger with its own cryptocurrency (as well as other enterprise products), Ripple provides global solutions for financial settlement. The startup has been enjoying growing visibility lately, raising $55m in September.
Further, in October, a dozen banks announced that they had completed several trials testing XRP's ability to provide liquidity to bank accounts across the world.
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