Ripple displaced Ethereum from the second position of the crypto market, registering a market capitalization of more than 100,000 million dollars and the cryptocurrency, the XRP, has experienced an upward trend during this week, registering a maximum value of 2.84 dollars, which translates into an increase of a little over 90% during the last 24 hours.
At the time of writing, its value was 2.78 dollars. In the last 24 hours, it has mobilized more than 10 billion dollars in exchange offices, which has allowed it to reach a capitalization market of more than 100,000 million dollars, according to CoinMarketCap.
Transactions are being executed mostly by exchange houses such as Bithumb, with more than 26% of the volume, followed by Binance with 14% and Poloniex with a little over 13%. They are managing the changes of XRP against the Korean won by more than 37%, followed by bitcoin by 40% and against the US dollar with a little more than 7%, according to CoinGecko.
These bullish movements continue to be driven, mainly in South Korea, by the recent news about alliances with Asian banks. In these alliances, Asian banks have agreed to use the Ripple Net platform, rather than its cryptoactive XRP. In the announcements they do not make precision if they are going to use said cryptoactive, but some banking institutions have declared the intentions of using it for inter-bank and international shipments of successful tests with Ripple Net.
The XRP comes to be the cryptoactive that generated more profits this 2017 with more than a 400% increase registered with respect to its value at the beginning of the year. Recall that on January 1 of this year the XRP was quoted at less than one cent.
This 2017 has been a year of great strides for Ripple, associating more than 100 companies to its network, including American Express. They also partnered with the Gates foundation in the development of a financial option for the unbanked. Also, they complied with the blockade of more than 55 billion XRP that they had promised for the beginning of the year, to generate confidence in their investors, who will not have the cryptocurrencies to manipulate the price. With all the alliances it has forged this year, it seems that Ripple has managed to show the value of its network to its target customers, the banks.