XRP Surge Continues, Up Again by Double Digit

Sep 21, 2018 at 19:25

XRP, the world’s third largest cryptocurrency has once again proven its mettle as its value skyrocketed by 40 percent as of this writing.

It is the coin’s second double digit gains for the week as investors bet on Ripple, the company behind the cryptocurrency, to have a major announcement anytime soon on the projects that it is developing.

Marcus Treacher, Ripple’s global head of strategic accounts, recently revealed that RippleNet, a payment system that they claim to be faster and more transparent, expanded into 40 additional territories.

Among the new countries where the project may now be utilized include Malaysia, Vietnam, Indonesia, Sri Lanka and Bangladesh as InstaReM and RationalFX opened up new corridors from the United Kingdom.

Likewise, Remitr and FlutterWave’s establishment of a RippleNet corridor to Nigeria from Canada as well as BeeTech and InstaReM created corridors from Brazil to Spain, Italy, Germany, France and Portugal was also set up.

“RippleNet’s newest corridors have a combined potential market that totals over $2 billion in inflows over the last year,” the official noted.

Aside from the establishment of corridors, investors are also wary of Ripple’s scheduled announcement of a product release next month.

It can be recalled that Ripple’s stock price started to rise this week last Tuesday when news came out that United States banking giant PNC, adopted Ripple’s xCurrent product to process international payments for its customers.

As of this writing, XRP is valued at $0.47 a piece and a market cap of $18.6 billion.