XRP, the coin referred to as Ripple was up another 52% today.

And for a brief period, XRP passed by Ethereum (ETH) to become the second largest coin on the market, according to CoinMarketCap.com.

All on Exciting New News

For one, the team is expected to launch a commercial version of its payment platform, xRapid in the next month or so.

It also addresses the issue of “minimizing liquidity costs and making cross-border payment transactions faster. xRapid claims to significantly reduce the capital requirements for liquidity,” as reported by CNBC.

As that story heats up, and as we near launch XRP could move even higher.

Better yet, There’s Increased Adoption by Banks

More than 100 financial institutions have adopted Ripple and are in the process of benefiting from its blockchain solutions.

A division of PNC Financial Services Group Inc will also use technology built by startup Ripple to process international payments.  This could very well be a precursor to the use of blockchain in the world of finance.

And it could dethrone Bitcoin

According to Ripple CTO, David Schwartz:

Bitcoin and Ethereum are currently viewed as the gold standard for decentralization — meaning they are architected in a way that no single individual or minority group can dictate rules or rewrite transaction history (the power of blockchain!). Since these blockchains are considered decentralized, then by design, the XRP Ledger is also — if not more so — decentralized than both Bitcoin and Ethereum.

The XRP Ledger is based on an inherently decentralized, democratic, consensus mechanism — which no one party can control.

Technically Speaking

Ripple is now challenging prior June 2018 resistance. If it can break above that price, as it should, we could soon see a test of April 2018 high.  Should it break out there, the next possible test is $1.207. Stay tuned.

 

 

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