Ripple (XRP) has increased by more than 20% in the last 4 hours, despite the lack of momentum of the major cryptocurrencies like Bitcoin. A peak in the volume of XRP has been activated on Bitfinex, influencing other important exchanges of cryptocurrency. The wave occurs one day after the news that Ripple is about to officially launch xRapid, the product that many XRP owners have been waiting impatiently for.
Yesterday, Sagar Sarbhai, Head of Regulatory Relations for Ripple in Asia-Pacific and Middle East, told CNBC that the release of xRapid is near. According to Sarbahi, the company believes that xRapid can be launched in about a month. The product, xRapid, is a commercial application that uses XRP cryptocurrency as a kind of "bridge" between currencies, allowing payment service providers and banks to process faster cross-border transactions.
Today's increase, therefore, could be caused by the news and clamor around xRapid. That said, a lot of positive news has been released by Ripple lately. XRP is one of the few assets that has experienced extremely strong downward movements in recent months, with poor results compared to Bitcoin and the US dollar. The conditions of oversold, combined with all the good news and the uproar, could also have pushed the market to start a sudden corrective meeting.
In August, Ripple announced that he selected three cryptocurrency bags – Bittrex, Bits and Coins.ph – to serve as preferred partners for the xRapid ecosystem. Ripple CEO Brad Garlinghouse predicted at the start of this year that "dozens" of banks would use xRapid – and by extension XRP – by the end of 2019.  In addition to all the good news surrounding Ripple and XRP: previously some members of the Ripple community have suggested that a massive development of Ripple should be announced in the near future, creating a hype about a product or event that has not yet been made public. The short-term hype around Ripple also moves towards a potential integration of Coinbase at the start of 2018. This, however, can not be confirmed.