XRP Price Reaches the Highest Level in 3 Years

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.

As of writing, the digital asset is trading near $0.73 with a market cap of $32.8 billion. The cryptocurrency is up by more than 200% since the start of 2021. XRP remained the best-performing digital currency among the top 10 in the last 7 days as the world’s 7th largest crypto asset gained nearly 30% in a single week.

Adoption of XRP

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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term company, recently released a Whitepaper Whitepaper A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho Read this Term on the future of central bank digital currencies (CBDCs) and termed XRP as a bridge currency for CBDCs. According to a report published by CPA Australia, the Central Bank of France is actively considering the technology behind the cryptocurrency as a possible platform for the issuance of a CBDC.

“Ripple and XRP enjoy the trust of many banks as a model for CBDCs. Ripple also allows the creation of new currencies, and Ripple developers can decide the timing and quantity of supply in a similar way to current central bank operations,” the report from CPA Australia said.