Cryptocurrency Ripple almost walked Ethereum in terms of capitalization, which is currently $19 billion (against $22 billion at ETH). The XRP exchange rate for the last day increased by 47% from $0.32 to $0.48 and continues to grow!
The rise in price of XRP started on 20 September after reports on the development of a new payment service. This was stated by the head of the legal Department Ripple Sagar Sarbhai, according to him, the new system called xRapid will allow several times to expedite the handling of Bank transfers. Start xRapid scheduled for October 2018.
Payment service have already tested such large financial companies like Western Union, MoneyGram, MercuryFX, Viamericas and Cuallix. In addition, Ripple has partnered with American Express and Santander, under which the companies will jointly develop a payment platform xCurrent.
However, these events could not have such a strong impact on the rate of XRP. Many experts believe that the rise of digital asset occurred as a result of planned action whales of the cryptocurrency market. According to technical indicators, September 19 there is a situation of oversold together with the fear of traders to seize the opportunity, it led to increased buyer activity: daily trading volume of XRP reached $1 billion!
Ethereum is also not feeling well: the cost of coins for the day grew by 7.61%, and trading volume is $2 billion. However, the closest competitor (Ripple) is literally breathing down my neck and threatening to displace the king of the block chain at the third position!