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Ripple rises more than 65% in 7 days, three reason behind this bullish move



Ripple rises more than 65 percent in 7 days the reason behind this bullish move
Source: Unsplash

Ripple [XRP] the 3rd largest cryptocurrency by market capitalization is on a massive bullish move. XRP rises more than 40% overnight and is up more than 65% within 7-days.

Ripple XRP is at $0.463287  at the time of writing this post having a market capitalization of $18,443,012,056. Ripple adds more than $8,000,000,000 to its portfolio within these 7-days. All the data provided here is as per Coinmarketcap.

Ripple XRP price chart by Binance

Ripple XRP price chart by Binance

So what you think the reason behind this massive bullish move. Here I will share the reasons that led XRP to gain more than 65% within 7-days. So let’s start –

  1. National Commercial Bank of Saudi Arabia joins RippleNet
  2. PNC Bank Joins RippleNet
  3. xRapid Announcement

National Commercial Bank of Saudi Arabia joins RippleNet

As reported by Koinalert earlier that the National Commercial Bank (NCB) of Saudi Arabia joins RippleNet. NCB was the first bank that got established in the country. Now the bank is the leading financial institutions in the Middle East with over 5.4 million users across the world.

The banks will integrate with other financial institutions around the world via RippleNet. The entry made in the blockchain space will definitely bring the new scope to the Kingdom of Saudi Arabia as well as to the Middle East.

PNC Bank Joins RippleNet

The blockchain community has grown strong, as PNC Bank, one of the top ten banks of the United States of America, joins it. The PNC bank has joined the growing blockchain RippleNet by Ripple. Furthermore, It has become one of the 100+ financial institutions that have come onboard the RippleNet blockchain.

PNC Bank took the step to facilitate instant real-time payments in and out of the country. This will impact over 8+ million customers of the bank, which has branches in over 19 states.

Also Read:- Our latest prediction and technical analysis on Ripple XRP

xRapid Announcement

RippleNet has extended its reach, ever since it has launched, and has been growing exponentially. Furthermore, RippleNet has gotten itself into 40+ countries on the six continents of the world with this move.

Also, RippleNet stated, “The bank joins some of the world’s leading financial institutions on the network. It includes Banco Santander, American Express and the SBI led, japan bank consortium to name a few.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.