The digital currency market is at the verge of a massive rally, according to top analysts in the crypto space. XRP (XRP) has been showing traits of this rally over the past weeks. The value of the coin recently skyrocketed with rumors that banking and financial services firms in the world were set to use XRP (XRP) to move fund from one nation to another. As a result, the value of the coin surged by more than 80 percent in one day, taking its value close to the 80 cents level with a very high daily trading volume.
XRP (XRP) Price Today – XRP / USD
The price rally coincides with the announcement of xRapid – a payment platform that uses XRP. This has made a lot of people to wonder if the digital currency will test the $1 mark by the end of this year. Nevertheless, the bullish sentiments around the coin have worn off as the coin is now trading below the 55 cents level.
The Announcement of xRapid Ripple’s Swell Conference Had No Effect on XRP
On the 1st of October, during Ripple’s Swell conference that took place in San Francisco with former U.S president Bill Clinton as a keynote speaker, the CEO of Ripple Inc. – Brad Garlinghouse – announced three firms that are making commercial use of xRapid. Nevertheless, the digital currency has failed to respond to this announcement, and it has been in the red since the announcement.
Will the Partnership of Santander Bank and Ripple Push XRP to the $1 level?
On the 2nd of October, Ripple Inc. announced the integration of RippleNet into OnePay FX. OnePay FX is an international settlement mobile app built by Banco Santander. This partnership was announced earlier, nevertheless, the present corporative level of both firms wasn’t unveiled in the initial announcement. During the Swell conference of Ripple, Ed Metzger – the Head of Innovation at Santander – said that the vision of the bank in the integration of Ripple is to use XRP to enhance the lives of its clients. This will increase the adoption of XRP and possibly push its value towards the $1 mark.