Ripple XRP Coin Price Surpasses $0.41 After Bitcoin And Crypto Market Baths in a Sea of Green
XRP, the third largest digital asset in the market, was able to surpass $0.41 in the last 24 hours. There are several reasons why Ripple’s virtual currency has performed in such a positive way. One of these things is related to Bitcoin’s price increase during the weekend.
XRP Grows Over 8% And Surpasses $0.41
Ripple is working in order to help companies process cheaper and faster cross-border payments. Using the XRP digital currency, it is possible to reduce times and costs even more. One of the most important things that are helping XRP increase in value is related to a larger number of use cases and applications for the XRP token. That includes XRPL Labs and also Bolt Labs.
Moreover, the largest commercial bank in Thailand, the Siam Commercial Bank (SCB), confirmed that it will be using blockchain technology to improve its operations. At the same time, they wrote on Twitter that in the future they could announce they will be working with XRP.
We will be using Blockchain Technology for ripple but as for XRP, you may have to wait for further announcement.
— SCB Thailand (@scb_thailand) May 22, 2019
In addition to it, Ripple had become one of the founding members of the International Association of Trusted Blockchain Applications (INATBA). The intention is to leverage blockchain technology and for businesses, the public sector and also the society at large. The INATBA also wants to develop a framework that promotes public and private sector collaboration.
Furthermore, Binance has also added XRP with Coinbase as well for residents of New York. This is going to increase the number of users trading XRP in different platforms, which could also help the digital currency increase in value as well.
Finally, Brad Garlinghouse, the CEO of Ripple, has also been working in order to create and become SWIFT 2.0 by using digital assets and blockchain tech. Nonetheless, Ripple has now more rivals such as the cryptocurrency released by JP Morgan called JPM Coin and Facebook’s platform that will be used by the GlobalCoin digital asset.
At the time of writing this article, XRP is being traded above $0.41 and it has a market capitalization of $17.3 billion, as reported by CoinMarketCap.