Ripple Has Grown By More Than 100% In 4 Days

Ripple Welcomes PNC Bank into RippleNet

The upward move was spurred by rumors of a new product. Upbit, Bithumb, Bitfinex, and Bitbank were also among the biggest markets for XRP trades. Western Union and MoneyGram are two companies that have already tried the product.

In addition to that, there were also good tidings relating to content creators. The listing of XRP sees the digital asset become the fifth virtual currency to gain listing on Remitano after Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and very recently Bitcoin Cash (BCH). Indeed, this is another positive light shining around the cryptocurrency.

In order to prevent Jed McCaleb from collapsing the market with his XRP sales, a contract was signed between Jed McCaleb and the company Ripple Labs in 2016.

Though the value of XRP spiked on Friday, the digital currency's market capitalization has dropped by 30% since then.

The price of Ripple's XRP has gained 205% in the past week. While this may be true long term, short term this is not what is really influencing the price of Ripple (XRP).

Tracking the broader market, Monday's late sell-off continued through the morning, with Litecoin sliding through the day's first major support level at $56.23 to an intraday low $54.33, calling on support at the second major support level at $54.49. They include the predominant video-streaming site YouTube, online encyclopedia Wikipedia, and an online game-streaming provider, Twitch.

At the moment, the Coil network monthly charges are $5 while its test phase is tailored for invites only. However, insiders say that the website is seriously weighing the option of throwing open its registration to the general public.

He even went on to congratulate Ripple's CTO Stefan Thomas.

The idea by Coil has been tried before in the market by Changetip which had developed an app for tipping content creators in various social media platforms back in 2016. The user base of the mobile banking application is over 2 million. The system was tested last May on running payments between the United States and Mexico. He further remarked, "The use of XRP is set to increase and naturally this will positively impact its price". This may have been some of the news causing the huge rally in this digital currency at the moment. Not only that, but the cryptocurrency price also rose rapidly. Its blockchain practicality with real-world financial institutions is something that has earned XRP favor in the US & Asia markets. This came as a surprise to most of the cryptocurrency observers, Ripple has surpassed Ethereum in the past, but this one was totally unpredicted. Do consult your financial adviser before making any decision. Do your market research before investing in cryptocurrencies.

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