Ripple (XRP) has increased by 80% in the last hours, while the general market continues with its steady recovery. The news that Ripple is about to launch its xRapid product has caused excitement among traders.
Ripple Lab also revealed that XRP could be used as a means of payment when the xRapid service is launched, according to one of Ripple's executives at the start of this week.
xRapid is a service that allows financial companies such as payment providers to accelerate money transfers in emerging markets using XRP. Although there is not yet a commercial release date, the news has done enough to cause an increase in XRP.
The third largest cryptocurrency is now trading at $ 0.59 or 0.00009122 satoshis.
XRP's market capitalization has increased from $ 13 billion since yesterday to $ 18 billion. Daily trading volume also increased from $ 421 million yesterday to reach $ 1.7 billion.
The spike coincides with an increase in the general market as most cryptocurrencies are currently trading in the green zone.