Ripple’s acquisition streak seems to be having a positive impact on XRP. The third-largest cryptocurrency after Bitcoin (BTC) and Ethereum (ETH) is currently the second-best performing digital cryptocurrency among the top 10.
XRP Continues Growing
XRP is currently growing around 3.4% in the last 24 hours according to data provided by CoinMarketCap. The cryptocurrency has a price of $0.254 per coin and a market capitalization of $10.95 billion.
Although all the top 10 cryptocurrencies are registering gains, only XRP and EOS are the ones able to grow above 3%.
Bitcoin is operating stable close to 0.26%, followed by Ethereum with a price increase of 1.41%. Meanwhile, Bitcoin Cash is registering a growth rate of 1.82% and Litecoin 2.35%.
The $0.28 and $0.25 levels have been very important for XRP during the last year working as support on different occasions. Thus, it is very important for the cryptocurrency to remain above these targets.
Ripple Continues To Expand
Ripple has been working during the last months to expand XRP usage around the world and its presence in the market.
A few days ago, the company informed that they acquired an Icelandic cryptocurrency exchange called Algrim. In this way, Ripple will welcome a new team of engineers that would be in charge of exploring solutions for a decentralized finance (DeFi) system built on XRP.
“Ripple is the only company in the blockchain payments space that has a real use case and real customers: enabling financial institutions to leverage digital assets for highly efficient cross-border payments,” explained the company in a blog post.
Many individuals and enthusiasts in the industry were complaining that Ripple was flooding the market with XRP from their reserves and that was affecting XRP’s price.
In addition to it, Ripple announced that they acquired Logos, a startup that is working to offer solutions focused on speed and scalability. The team behind Logos is going to be focusing on the Xpring product and how it is possible to expand their shared vision on building the Internet of Value.
Finally, BitPay has also partnered with Ripple’s Xpring initiative to start accepting XRP for payments. This new initiative will allow merchants around the world to start accepting payments from customers that want to pay for goods and services using the XRP cryptocurrency.
Despite the controversies surrounding Ripple’s usage of its reserves, the firm is certainly working to offer solutions not only to individual customers but also to institutions and companies around the world.
Source: Use The Bitcoin