Why Has the Value of Cryptocurrency XRP Spiked?
CoinGecko reported that Ripple rose by 46 percent on the 15th of December, reaching a new record high amounting to 0.8051.
XRP reportedly gained such an increase in its value because the continued growth of Bitcoin has benefited the whole cryptocurrency market.
The global market is presently valued at about $488billion, Bitcoin accounts for less than 40 percent of the daily turnover, while Ripple accounts for a minor 4 percent.
However, experts believe that it will enjoy a higher increase in value next year.
XRP also enjoyed an increase because of its new partnership with American Express, a credit card company who are attempting to offer instant block-chain based payments.
Rejoicing the AMEX-Ripple partnership, Marc Gordon, the company’s chief information officer, stated: “American Express has a long history of integrating new technologies.
“This collaboration with Ripple and Santander represents the next step forward on our blockchain journey, evolving the way we move money around the world.”
How to Purchase XRP
Ripple can be purchased easily using other cryptocurrencies including Bitcoin.
It is readily available on Bitstamp, where users can buy them with their local currency.
Using an online wallet such as GateHub, XRP can be easily stored in an online wallet. This will let them make purchases and even send XRP to other users of Ripple.