Ripple (XRP) Volume Triples, Potential Factors Behind its Rally
XRP, the third-largest cryptocurrency, experienced a swell of volume over the last three days as it saw its price triple, trading at an appreciated price of $0.52, with a market cap of $21.11 billion.
The crypto got listed on Turkey’s fastest growing exchange Koineks just yesterday, and now, an upcoming exchange, FoLex, has decided to list XRP right from its beginning.
The research also highlights the commercial release of Ripple’s cross-border payments platform, xRapid as being a potential catalyst to an XRP price surge.
The news coming from FoLEx is that they will be listing Ripple’s XRP as a currency to be traded from the very beginning. This has not been the rule. In fact, Ripple has struggled hard to get XRP listed as a currency in exchanges. But they’ve succeeded, and they’re making a lot of progress.
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— FoLEx Official (@FolexOfficial) November 4, 2018
There appears to be a handful of reasons behind XRP’s surge in volume, from the ongoing rollout of Ripple’s xRapid service to its expansion into new territories
xRapid is Ripple’s cross-border payment service that actively uses the XRP token to settle payments. Although hundreds of banks are using Ripple’s network, only a handful are currently using xRapid.
Ripple has always wanted its token to be a mediating currency used by banks and financial institutions so that international payments could be settled quickly, safely and cheaply through Ripple’s network and platforms.
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