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.
Also Read: How Does Blockchain Technology Work?
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.