Published: Wed, September 26, 2018
Finance | By Gustavo Carr

XRP surges by 12%, bullish rise coincides with CoinField announcement

XRP surges by 12%, bullish rise coincides with CoinField announcement

McCaleb's family and a donor-advised fund owned by McCaleb own about 7.3% of total XRP, according to the WSJ report.

Today, searches for XRP are at 38% of that peak while those for Ripple hit 45%; still a significant statistical outlier compared to averages of 12% for XRP and 30% for Ripple over the last month. Currently, one of the most popular and widespread methods for tipping influencers and content creators on Twitter and Reddit is through the XRP Tip Bot, which has facilitated over 55,000 XRP tips totaling at 72,684 XRP sent in total.

PNC Bank, a leading bank in the United States, has announced that PNC Treasury Management has joined RippleNet - Ripple's enterprise blockchain network with over 100-member banks and financial institutions. Using xRapid, Ripple claims that it can speed the entire process of converting USA dollars into XRP, and then XRP going to the fiat currency of choice at the other end.

The CEO said that he expects XRP to become a major player in the world's shift away from traditional money within the next few years. The availability of xRapid will mark the largest move yet of a blockchain-based product into mainstream use. Most major virtual coins, including Ripple (XRP) and Litecoin (LTC), have lost around 5% or more over that period. Also in April, Santander - a Spanish-based bank - released a blockchain payment network powered by Ripple - One Pay FX, becoming the first global bank to do so, according to reports. It minimizes liquidity costs and makes cross-border payment transactions faster.

Ripple most recent partnership with American PNC Bank. It got more evident after the market added $21 Billion within 48 hours.

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BCH gained roughly 12% in the last 24 hours bouncing from approximately $430 to now be trading for $483.

As of press time, Ripple has a listed market cap of around $23.39 billion, while Ethereum - now in third on CoinMarketCap - has around $23.2 billion in market cap. However, it seems XRP ran out of momentum but ETH didn't, as Ether is now at a market cap of $24,792,894,213 ($242.82 +15.07%) whereas XRP is back down to $22,049,371,765 ($0.55 +27.91%). As just described, this scenario is unrealistic considering the bitcoin price will continue to rise and new bitcoins will come into circulation.

XRP is still far from reaching bitcoin's market capitalization, according to these calculations.

Bitcoin (BTC) is still ranked number one, with a market cap of around $116 billion.

After an all-time high price of the altcoin in January, XRP/USD has continuously been valued low in the market, but the trend of the day seems to be different as the altcoin displayed beautifully well in the market. As always, only the coming weeks and months can tell where the journey is headed for the very volatile cryptocurrency market.

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