XRP Hits Two-Month Price High
Updated: Apr 13
XRP price touched $0.75 on Monday after the digital currency jumped approximately 20% in the last 24 hours. XRP has now reached its highest level since May 2018. The price of the cryptocurrency received a push after Ripple acquired a 40% stake in Tranglo, which is one of Asia’s largest cross-border payment firms.
According to the latest data published by Coinmarketcap, XRP is the 7th largest cryptocurrency in the world. The digital asset has a market cap of nearly $33 billion. XRP is now more valuable than Uniswap, Chainlink and Litecoin.
XRP price took a major hit in December 2020 after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs and its executives. Since then, the price of XRP has been on the rise. The digital currency has now erased all losses, which occurred after the SEC’s lawsuit.
XRP’s adoption has increased significantly in the last few months as several organizations around the world have started using the technology for cross-border transactions. Ripple, the San Francisco-based blockchain company, recently released a whitepaper on the future of central bank digital currencies (CBDCs) and termed XRP as a bridge currency for CBDCs.
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