This week’s big market move was mostly centered on Bitcoin, which again acted as a catalyst. The two second largest crypto assets, Ethereum and XRP, didn’t get such a boost and quickly fell behind. That’s until about an hour ago when XRP finally woke up and started swaying.
During today’s Asian trading session, the Ripple token rose from $ 0.330 to just over $ 0.337, its highest level in three months. The move has lifted XRP higher than Tuesday’s rally, which saw Bitcoin Cash and Litecoin make huge gains. The daily volume is increasing again and is a little over 2 billion US dollars.
XRP closes the gap to Ethereum in second place, but at the time of writing it still has a market capitalization of just under $ 2 billion. The Ripple token has hit $ 15.3 billion while ETH is still above $ 17 billion. It hasn’t made the same gains as other altcoins this year as it has only made 5% since the beginning of January.
The momentum may have been driven by yesterday’s announcement that UK-based RationalFX, a money transfer company with over 180,000 registered customers, has partnered with Ripple for international payments
The company originally joined RippleNet in April last year along with FairFX, Exchange4Free, UniPAY and MoneyMatch, according to the company blog. Most Ripple partners start with the xCurrent system before moving to xRapid, which uses the native XRP token for cross-border transactions.
Although Ripple is a controversial topic for crypto enthusiasts, many are confident that XRP will be one of the top performing tokens in 2019. A recent survey by Weiss on Twitter shows that 54% of the 5,400 respondents believe that XRP will be the market leader.
Weiss recently classified XRP as Class A crypto alongside EOS and Bitcoin in its latest annual report. By the time the token was unresponsive, it was late to get to the party but it is finally taking steps today.
XRP’s Gmail integration with Gmail, which allows users to instantly send tips to one another, has undoubtedly given some impetus. The platform uses a Chrome plugin called MoneyMessage and XRPTipBot, which are already up and running on Reddit, Twitter, and Discord.
Recent reports also show that Ripple is seen as more stable and attractive to governments and financial institutions.
This might not be good news for those who advocate fully decentralized cryptocurrencies, but it is for Ripple and XRP investors having a big day today.