Ripple, a cryptocurrency designed for banks and global money transfers, has more than doubled in price since Monday, overtaking Litecoin as the fourth-largest cryptocurrency. It now has a market cap of $21 billion.
The boom has largely coincided with gains in bitcoin and other smaller cryptocurrencies, which have been on a tear since the launch of Bitcoin futures trading by Cboe Global Markets on Sunday.
"I think a lot of this is simply the market better understanding the realities of digital assets performance (speed, throughput etc)," Ripple CEO Brad Garlinghouse told Wednesday morning. "There is - appropriately - a lot of excitement about the potential, but XRP is very uniquely positioned to actually be able to deliver on the promise.".It has gained 122% this week.
Source: BI
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