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The XRP, which was labeled as one of the worst performing currencies in 2018, skyrocketed by almost 80% on September 21, 2018, making an invisible return. The currency rose to 77 cents, earning 185% over a seven-day period, matching CoinMarketCap.com information.
Ripple's capitalization also rose to about $ 26.8 billion, surpassing Ethereum as the second most valuable digital currency in the world after Bitcoin.
The Ripple Firm
Ripple is basically a fintech company that facilitates international transactions and is the main shareholder of the XRP currency. The XRP is a digital currency, independent of the Ripple company.
The factors behind this upward trend Sharp
The positive trend of XRP was ignited by rumors about the launch of the new XRP product in October. One of Ripple's executives told CNBC that the company was on the verge of launching its xRapid product, designed to help financial institutions accelerate activities by embracing XRP cryptocurrency.
"I am very confident that in the next month or so you will hear good news coming up where we launch the product live in production." These are the words of Sagar Sarbhai who is the president of the regulatory relations for Asia. Pacific and the Middle East in Ripple.
The product xRapid
Ripple said that its xRapid product will use XRP as a "bridge" between various cryptocurrencies, allowing customers and financial institutions to perform faster cross-border business.
Joe DiPasquale, responsible for the hedge fund cryptocurrency fund BitBull Capital has praised the xRapid product and said that the product will increase the recovery of XRP prices.
"People are definitely buying the news, this is another case of Ripple showing its dominance in real-world relations with financial companies, and yet another peak in the price of XRP because of it." [19659002] Recently, a US financial institution PNC said it would use the Ripple block network for border companies such as bank transfers, even if it will not use XRP cryptocurrency.
Despite the imminent launch of the product and the partnerships that Ripple has established so far, the currency still has a long way to reach peaks of this year above $ 3.60, with experience in January.
