Ripple (XRP) skips 15% higher when Bitcoin falls – Comes back to overtake Ethereum

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Ripple (the informal name for the XRP token token) has increased in the last 24 hours, approaching again by dropping Ethereum from his perch as the second largest cryptocurrency in the world.

The latest wave of waves comes on the heels of a positive couple of months for the XRP price, which has been boosted by a number of major banks that adopt Ripple Labs technology – the creator of the XRP cryptocurrency.

Ripple (XRP) now boasts a market capitalization of $ 21.4 billion, slightly less than $ 21.8 billion of ethereum, according to & nbsp;CoinMarketCap data. Bitcoin, the original cryptocurrency, still holds first place by a large margin, however, with a total market value of $ 111 billion.

Ethereum is down 84% this year, rising from around $ 1,400 to just $ 215. Meanwhile, Ripple has declined by about the same amount, peaking at $ 3.71 at the start of the year and falling to $ 0.26 in September. Ripple started 2017 for only $ 0.006.

It was not immediately clear what caused the ripple price surge, pushing it beyond the psychological threshold from $ 0.50 to $ 0.53.

Ripple Labs continues its international expansion, as well as rumors unfounded on a Swift update in November that could bring thousands of banks around the world to the Ripple Labs platform, xRapid.

Elsewhere, the SendFriend cross-border repatriation service today implemented xRapid, the first in what could be a number of payment companies like Western Union and MoneyGram to use the technology.

xRapid & nbsp; It is designed to function as a bridge between different currencies around the world, allowing payment service providers and banks to process faster cross-border transactions. At the start of the year, Ripple Lab CEO Brad Garlinghouse boasted that there are "dozens" of banks using xRapid by the end of 2019.

Last week & nbsp; Ripple Labs has revealed that it will open an office in Dubai by the end of 2018.

Ripple Labs head of global infrastructure innovation, Dilip Rao, speaking at the Global Islamic Economic Summit in Dubai, said that Ripple Labs will focus on cross-border payments in the region.

"Now we have three banks in Saudi Arabia, two in Kuwait … one in Bahrain, one in Oman … one couple in the United Arab Emirates … and it's really out of the market with the fastest growth," Rao said.

"I think the UAE government that states that 50% of all government transactions will be on accounting book technology distributed by 2020 is a fantastic way to encourage innovation, to bring Fintech to the market and then to build locally the skills to iterate on those solutions that the Fintechs bring you ".

In the meantime, the price of bitcoin has fallen today, despite many other important cryptocurrencies that are gaining momentum as the sector seems increasingly to dissociate from bitcoin.

In recent years, the price fluctuations of bitcoins have largely reflected in the broader market. It seems that it is happening less as the ripple (XRP) and ethereum cut out their identities regardless of the bitcoin.

Ripple, which was created in 2012 by Ripple Labs (making it one of the oldest cryptocurrencies), stands out from many other major digital tokens by working directly with the established financial services industry.

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Ripple (the informal name for the XRP marketable token) has been upgraded in the last 24 hours, approaching again the knocking of ethereum from its second cryptocurrency in the world.

The latest wave of waves comes in the wake of some positive months for the XRP price, which has been boosted by a number of large banks that have adopted Ripple Labs technology – the creator of XRP cryptocurrency.

Ripple (XRP) now boasts a market capitalization of $ 21.4 billion, slightly less than the $ 21.8 billion of ethereum, according to CoinMarketCap data. Bitcoin, the original cryptocurrency, still holds first place by a large margin, however, with a total market value of $ 111 billion.

Ethereum is down 84% this year, rising from around $ 1,400 to just $ 215. Meanwhile, Ripple has declined by about the same amount, peaking at $ 3.71 at the start of the year and falling to $ 0.26 in September. Ripple started 2017 for only $ 0.006.

It was not immediately clear what caused the surge in the price of ripple, pushing it beyond the psychological threshold from $ 0.50 to $ 0.53.

Ripple Labs continues its international expansion, as well as rumors unfounded on a Swift update in November that could bring thousands of banks around the world to the Ripple Labs platform, xRapid.

Elsewhere, the SendFriend cross-border repatriation service today implemented xRapid, the first in what could be a number of payment companies like Western Union and MoneyGram to use the technology.

xRapid is designed to function as a bridge between different currencies around the world, allowing payment service providers and banks to process faster cross-border transactions. At the beginning of the year, Ripple Lab's managing director, Brad Garlinghouse, boasted that there would be "dozens" of banks using xRapid by the end of 2019.

Last week Ripple Labs revealed that it will open an office in Dubai by the end of 2018.

Ripple Labs head of global infrastructure innovation, Dilip Rao, speaking at the Global Islamic Economic Summit in Dubai, said that Ripple Labs will focus on cross-border payments in the region.

"Now we have three banks in Saudi Arabia, two in Kuwait … one in Bahrain, one in Oman … a couple in the United Arab Emirates … and it's really out of the market in the fastest growing," Rao said.

"I think the UAE government that states that 50% of all government transactions will be on accounting book technology distributed by 2020 is a fantastic way to encourage innovation, to bring Fintech to the market and then to build locally the skills to iterate on those solutions that the Fintechs bring you ".

In the meantime, the price of bitcoin has fallen today, despite many other important cryptocurrencies that are gaining momentum as the sector seems increasingly to dissociate from bitcoin.

In recent years, the price fluctuations of bitcoins have largely reflected in the broader market. It seems that it is happening less as the ripple (XRP) and ethereum cut out their identities regardless of the bitcoin.

Ripple, which was created in 2012 by Ripple Labs (making it one of the oldest cryptocurrencies), stands out from many other major digital tokens by working directly with the established financial services industry.