XRP, cryptocurrency Ripple network, over the past day has grown by more than 16%, again competing with Ethereum for the second position of the rating. Such a jump is due to the expansion in the Asian market, compensation for the backlog of positive dynamics and other factors. According to experts, the resulting impulse is enough only for short-term growth.
During the past week, the company has achieved significant success in the dissemination and implementation of its products in the financial sector of Asia. At the International Economic Summit, Ripple representatives reported on the plans for further expansion in the Middle East and the opening of the office in Dubai. Financial organizations of Saudi Arabia, Kuwait, Bahrain and Oman already use XRP when performing international payments and test the fintech products of their development.
According to Dilip Rao, the head of the Ripple infrastructure, after 2 years more than half of all the transactions of the UAE will pass through the blockchain. Adding that Asia is now the fastest growing market.
Another factor is the backlog from the overall positive trend of the cryptoms over the past week, which is now compensated. Recently, the company also announced partnership with Banco Santander to use XRP as a basic asset for a new mobile application of the largest financial and credit group of Spain.
At the moment
Bancor also expands its activities. Recently, developers reported