In September XRP went up 150% and at some point was even surpassed Ethereum's market cap. It was on September 22 that XRP had shocked so many people by suddenly going up 50% in one day. It then continued to make its way on up and had a high peak at 150% of the current price a few days before.
The reason that this happened was because of news that spread about XRP having a product that will be used for an actual case. It is somewhat proof that people want to see digital coins succeed and once XRP news came out about a product using it's blockchain technology it was exciting for people already holding Ripple and there was more who wanted to get in.
The news was made about a product release by Ripple to be used to help banks solve transaction speeds. There was nothing said about the product actually being used but is to be used in the near future. The product is something called Xrapid, which is bridging worldwide currency payments to make the process much faster. Will Ripple Labs and Xrapid succeed? Nobody knows, but the Ripple coin is worth billions of dollars so if you had to trust them, you could with some confidence for sure. Nobody has to trust anyone though and so it is still a speculation and too soon to decide whether or not the news about Xrapid is going to change anything yet.
Ripple's Xrapid announcement definitely made it's impact on people who were excited to see a product from a top coin being developed. We got to see XRP go up in price more than double in less than a week. Seeing this news is exciting for people because they are not used to it at this point most people are investing in speculation and unfulfilled promises. At the moment you can tell the market needs real world adoption. That is why this news was so impactful.
We will get to see what happens next, they say that by the end of 2019 at least a dozen banks will be using Xrapid. Nothing has been proven yet except for that the volume of this coin can go ballistic when it wants to. Ripple has a large community and good reason for this, they are a promising project, but partnerships and announcements aren't what its about at the end of the day. What it is about is having something that's useful in and brings change to everyday life. Sometimes not effecting us directly but through ways we can learn to appreciate.
To read more about Xrapid you can go here or reach the official website of XRP.
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