Ripple (XRP) Climbing After Crypto Market Correction

Ripple (XRP)

Ripple (XRP) is making a dashing comeback this morning after the crypto market lost over $20 billion in value this week. Many of the other cryptocurrencies in the top 20 were seeing double-digit losses yesterday, as investors began dumping their digital assets. Now it seems most are making a comeback and XRP is leading the way.

Ripple (XRP) Comeback

Ripple concluded its annual Swell conference last week. The company put together a two-day conference that was held in San Francisco.

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In addition to all the news surrounding Swell last week, the Japanese Bank Consortium launched its Ripple-powered MoneyTap app. Despite all the positive news surrounding the conference and MoneyTap, XRP continued to slide downward.

>> Cryptocurrency Sell-Off

However, this morning Banco Santander, a Ripple-partnered bank located in Spain, announced that they are now going live with SWIFT’s global payments innovation (GPI) in four countries. Banco Santander now offers SWIFT’s rapid cross-border payment service in Spain, the UK, Argentina, and Poland. The bank plans on expanding to Mexico and Chile before the end of 2018.

In the past, Banco Santander has been using Ripple’s payment solution for cross-border payments, and earlier in the year, they launched their Ripple-powered application OnePayFX.

Ed Metzger, Head of Innovation at Banco Santander, spoke at the Swell conference about how his bank’s journey with Ripple has improved his customers’ lives.

Metzger said:

“We believe that financial services is moving to a world of open platforms where companies collaborate to deliver excellent customer service for their customers, and that’s at the core of what we’re doing with OnePay FX.”

There has not been any news released about Ripple in last 24 hours, so this announcement by the bank may be what’s pushing XRP’s price up.

XRP Price Movement

According to CoinMarketCap, XRP is currently trading at $0.432 a coin, up 6.57% in 24 hours. Currently, XRP is leading the top 20 cryptocurrencies by their total market cap in percentage gains.

Featured Image: Depositphotos/© volodymyrshtun

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