The 4th largest cryptocurrency by market cap, Ripple’s XRP token, passed the one dollar target for the first time in history and it’s currently sitting at $1.09 according to Coinmarketcap.
After several months of stagnating around the $0.25 mark, XRP took an upwards turn about a week ago following very positive news but also due to the surging prices seen across the whole market, as investors are moving their money out of Bitcoin and putting them into alt coins. Ripple increased in price over 400%.
In late November, Ripple announced that Standard Chartered and Axis Bank are launching a new cross-border payments platform built on top of Ripple technology. Just a week before that, American Express revealed that they are relying on the Ripple’s network in order to connect Santander clients in Europe and United States.
The 24-hour trading volume increased by nearly 25% on major South Korean exchange platform Bithumb, while the 24-hour volume on Bitfinex rose by over 10%. Ripple gained 42.6% over the 24 hours and is up about 80% from last week, with a current market cap sitting at just above $42 billion dollars.