XRP, the world's third largest crypto currency, has broken a record in the last 24 hours, approaching an all-time high in terms of the number of daily transactions.
According to the data tracking website BitInfoCharts, XRP's daily transactions have risen to 50 percent of all crypto currency transactions in the last 24 hours. Ethereum (ETH) ranked second in this list, while Bitcoin (BTC), the first in terms of market value, and Bitcoin SV (BSV), the hard fork of Bitcoin Cash (BCH), ranked third.
At the last day of the XRP's daily trading volume, the crypto money market was experiencing an overall upward trend and Bitcoin climbed up to $ 20,000. Even though XRP completed 730,000 days of trading on October 21, only 8 days later, it signed 1.6 million daily transactions, demonstrating the huge difference. This means an increase of over 100 percent in a short period of time such as a week.
What is the reason for the increase in XRP?
It seems difficult at this time to understand exactly what or which user is causing the XRP to increase this transaction volume. But one of the prominent theories is that Ripple's famous Swell conference is approaching. The conference, which will be held next month, contributes a little to the price of XRP each year. Another possible reason is shown as Ripple's partnership with Moneygram. Moneygram’s testing of the network can result in such a high throughput.
