XRP holders have reason to celebrate, as their coin of choice is now up 2 percent on the day, climbing back up to 28 cents per token.
Like most of the top-20 cryptocurrencies by market cap, XRP was largely affected by the market’s plunge two weeks ago. At the time, XRP dropped to nearly $0.23 per coin. Since then, though, XRP has managed to regain some of that value, and has performed relatively well when compared to other crypto assets.
Earlier this week, for example, XRP was one of the few coins trading in the green, while Bitcoin and Ethereum continued to struggle. On Monday, XRP even saw a 7 percent spike in price, while several other top 20 tokens remained in the red.
Be the first to get Decrypt Members. A new type of account built on blockchain.
Experience Web 3.0.
Be the first to get Decrypt Members. A new type of account built on blockchain.Early access
At the moment, however, Bitcoin is on a bit of a tear, currently trading at over $8,600, marking a $500 jump from where it stood 24 hours ago. Ethereum, bitcoin’s primary competitor and the second-largest cryptocurrency by market cap, is trading for more than $190 per coin after falling back into the mid-$170 range yesterday afternoon. Bitcoin Cash has shot up to $237 per coin.
Meanwhile, Ripple is busy gathering more industry partners and spreading the adoption of XRP. Just today, it announced a new partnership with Finestra, a London-based financial services firm. Both companies are now working to develop a cross-border payments system designed for institutional players, according to Digital Transactions.