XRP Ripple jumped 11%: growth factors
10 Cent XRP Price Prediction – Coinbase Delisting Will Lead to Kraken Next
Yesterday afternoon, the rapid growth of ripple began, which is due to the news of the partnership of the international banking payment network SWIFT with the R3 blockchain consortium, which previously integrated the XRP cryptocurrency as an asset on the Corda platform.
We previously reported that SWIFT CEO Gottfried Leibbrandt announced the beginning of testing a gpi payment gateway based on the R3 Corda platform. This will allow all participants ecosystems leverage the network of the global interbank initiative. Rank expects SWIFT is likely to test the cryptocurrency network, testing its scalability and level of volatility.
During the Paris fintech forum, Gottfried Leibbrandt commented favorably on XRP, describing the product as a global asset of a cross-border payment network. Adding that banks are still hesitant to use cryptocurrency due to volatility. According to the head of SWIFT, the main disadvantage of Ripple Labs is its dependence on XRP.
Such news gave rise to bulls to start speculation, raised in a short period XRP rate from $ 0.294 to a peak value of $ 0.34. Although the subsequent correction slightly upset the price, over the last 24 hours the price of the ripple has increased by 11.36% and at the time of this writing, the coin is trading at $ 0.331.
However, analysts point out that a full-fledged growth in demand is possible only after the completion of tests and full integration of the system on the Corda platform. In their opinion, ripple achieves success not only because of the uniqueness of its products, but also largely due to competent promotion and advertising campaign..
The crypto community also has doubts about the decentralization of the announced project estimates. According to research Cryptanalytic firm Messari, XRP market cap overstated by $ 6 billion.
text: Ivan Malichenko, photo: Shutterstock, chart: TradingView