Ripple (XRP) is currently trading at $0.64 per coin with a market cap of $25 billion. With a market cap of this magnitude, XRP is regularly a top three cryptocurrency by the total market cap. A major reason for XRP’s multi-billion-dollar market cap is their partnerships with major companies in the finance sector.
Currently, XRP has solidified partnerships with The Bank of England, The Royal Bank of Scotland, MoneyGram, Banco Santander, BBVA, and more recently Western Union. XRP has the most adoption by big banks and finance companies allowing its large market cap to be justified to a degree. This week XRP has two major events that should continue to build momentum behind a crypto that has had a turbulent few months.
BlockBid Exchange is listing XRP and Western Union is releasing their new payment application in the Caribbean and Latin America. The technology behind the app involves Ripple and if the application is well received XRP should appreciate in value. The application’s planned release day is April 18, 2018. Two days prior to the Western Union application XRP has solidified itself as an addition on BlockBid.
BlockBid was an ICO that sold $1.2 million in total coins and was granted a cryptocurrency license in Australia. This allows BlockBid to be one of the few exchanges operating legally in Australia allowing XRP major exposure to an entirely new continent.