After becoming the world's second-largest cryptocurrency in terms of market capitalization, Ripple surpassed $3 of Wednesday, 3rd of January. The digital currency known as XRP is said to have gained over 49,500% in the last 12 months and more than 1000% in the last month.

Also Read: What is Ripple?

Ripple is a company engaged in global money transaction business and issues the XRP tokens. It is involved in bringing international payment solutions to its client banks using blockchain technology.

The price is said to have been benefited from new partnerships with banks. It is also conducting trials with a number of financial institutions.

Meanwhile, Bitcoin is noted to hit a new low as of Tuesday in its dominance in the digital currency market.