Nowadays, XRP news is the main focus of the market since the token has been outperforming recently. The rise of the coin is still continuing as XRP price has surged nearly 20% in the last 24 hours and reached the level of $1.60. Besides the price, the market cap also surpassed $70 billion for the first time since January 2018.
According to the latest data provided by Coinmarketcap, the total value of XRP is higher than the one of the French banking giant, BNP Paribas which has a market cap of around $64 billion.
The driving factor for the recent run of XRP is the increasing demand from retail traders. The XRP price has come from $0.55 to $1.60 in the last 2 weeks. Additionally, XRP news was triggering the rise of the coin in the last month. For example, the company producing XRP, Ripple announced in March that the company purchased a 40% stake in Tranglo, arguably the biggest payment firm in Asia. Following this XRP news, XRP price has achieved a major rise.
Currently, the coin is the fourth largest digital currency and has jumped 600% since the start of 2021. The XRP price was fluctuating around $0.23 on the first day of the year after going down by 60% which is the result of the SEC’s Ripple lawsuit.
Updates On XRP Ledger
The technology behind XRP, XRP ledger has also faced updates since the start of the year. According to the report published by CPA Australia, the central bank of France is currently working on a central bank digital currency (CBDC) based on XRPL technology provided by Ripple. The company also confirmed that it is preparing for a private version of the XRP Ledger to help central banks to launch their own CBDCs.
With the recent XRP news, the XRP price is moving around $1.60 with a market cap of $73 billion as of writing.