Reasons Behind XRP's Recent Gains

XRP has gained over 19% in recent days, after Hitting $0.5668 on Tuesday, XRP/USD is changing handing around $0.53. Its market value is now at almost $21.5B and having a good average trading volume of $1.2B.

There are number pf reasons behind these sudden gains and among those reason is the Ripple’s expansion in Asia market with disclosure of its planned operation in Middle East and partnership with banks in Saudia, Kuwait, Bahrain, and UAE.

Mastercard’s MIT Media Lab has also announced that it will use Rippl’s technology xRapid that utilizes XRP token. MIT’s CEO & founder David Lighton commented.

“That allows us on the back end to be more efficient with our capital. These are real-time settlements so we don’t have to do pre-funding, we don’t have to park money in the receiving corridor and then manage the foreign exchange risk. We can just do it one by one as the transactions go through.”

Also, reports are that XRP may be added to Apple pay through Wirex added the catalyst for XRP to reach above $0.54. However, Apple pay integration is still not a confirmed deal but market took positive impact of that.

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Disclaimer: This information not to be considered as Financial adivce on which to take financial decision. Every investment and trading move involves risk, you should conduct your own research when making a decision.