Ripple pushed Ethereum from the second place on the cryptocurrency market. The current market capitalization of Ripple is more than 100 billion US dollars and the price of XRP went up to the maximum value of 2.84 dollars, which means it rose 90% in the last 24 hours.
In the last 24 hours we have seen movement of more than 10 billion dollars in the exchanges, which made Ripple the second cryptocurrency in terms of market capitalization, according to CoinMarketCap.
The majority of the transactions was performed through Bithumb, more than 26% of the transactions. The second exchange was Binance with 14%, followed by Bitfinex with a little bit over 12% of the transactions. Most of the transactions were performed in the Korean won (more than 37%), followed by bitcoin and the US dollar, according to CoinGecko.
The rise of Ripple happened after the recent announcements regarding its alliance with certain banks from Asia. The banks agreed to use the Ripple Net platform. It was not mentioned whether or not they would use the Ripple’s cryptocurrency, XRP, but some banking institutions said they might use it for interbank and international payments.
XRP is one of the cryptocurrencies with the largest income this year, with more than 400% of gain, in comparison to its value at the beginning of 2017. The price of XRP on January 1st 2017 was less than one cent.
In 2017, the Ripple network attracted more than 100 companies, American Express being one of them. The company is cooperating with the Gates Foundation to develop a financing option for the unbanked. Ripple also managed to block more than 55 million XRP in order to increase the trust of its investors and prevent them from manipulate the price of XRP.