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XRP Stabilizes Above $1 As An Efflux Is Seen In Crypto Prices

Samantha Mitchell




In the past few days, the prices of one of the sector leaders, Ripple have really stabilized after an extra-ordinary wallop that saw the values terribly drop. But as of today, Tuesday, 13th February 2018, XRP appears to be rising back to reclaim its lost glory.

Ripple’s Current Price

As it looks forward to healing from a full month of huge losses, XRP, which is Ripple’s cryptocurrency token, currently sells at about $1.08. This is commendable given the tragic crash that this virtual coin dipped itself in barely a week ago.

As all that continues, the market capitalization for the digital currency currently hovers around the values of $142 billion. With almost 12% change in the green that has been witnessed earlier today, the market cap of the digital currency is below $145 billion, which has been its all-time high. Ripple is currently rated as the third largest virtual currency in the world. Today, it’s top two market competitors; Ethereum and Bitcoin have joined it in the green as all of them look for means of clinching the top position.

The UAE Exchange Deal

In an assortment of deals that Ripple has had in the recent past, the one with the UAE Exchange appears to be the latest. UAE Exchange has more than 800 branches in almost 30 various countries. According to a statement released by Ripple’s infrastructure innovation global head, Dilly Rao, the inclusion of RippleNet to the UAE Exchange services is set to introduce low-cost and instant payments to its worldwide customers. UAE Exchange is one of the international currency giants, and adopting Ripple services for its global payments was a step worth celebrating.

Ripple has in the past partnered with established companies like LianLian, IDT Corporation, Santander UK, MoneyGram, and Mercury FX. RippleNet, which is a product by Ripple is currently being used by LianLian, while xCurrent, another great product from Ripple is currently utilized by the Santander UK.

Other companies like IDT Corporation, Mercury FX, and MoneyGram are all using the xRapid product. The xRapid product is designed by Ripple to make use of its XRP token.

In Other News

Over the weekend {Saturday to be precise}, the leading Cryptocurrency, Bitcoin hit a high of $9,070.64. However, Sunday morning saw the prices fall down to $8,000 before making attempts to climb back again. At the moment, Bitcoin is priced at $8,834.84, with an appreciation of 6.48% within the last 24 hours. Compared to the low of $5,947.40 that was witnessed last week, Bitcoin has improved by 40%. After rising to $1.09 earlier, the Ripple’s XRP has dropped to $1.07.

Over the weekend, the price of this third largest virtual currency reached $1.20, which has since come down to $1.08 earlier today. Ripple’s market capitalization currently stands at $41.554 billion, after witnessing a 4.01% rise in the past 24 hours.

More Improvements

Following the blip that was witnessed in the last few weeks, it appears that all virtual currencies are improving quite well. Bitcoin has gone up with 9.2%, while its top competitor, Ethereum has recorded a 7.1% rise by today. On the other hand, Bitcoin Cash has gone up by 6.6%.

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