Although the Ripple coin suffered from a low phase for quite some time, it went up like a phoenix and emerged as a clear winner recently. Its recent extraordinary performance along with that of Bitcoin and Ethereum can be a big boost in the prevailing bear market.
BTC enthusiasts will be happy to know that the coin quickly managed its monthly losses in September. It was the first occasion in a fortnight when Bitcoin’s prices reached above the 6,700 USD mark.
Cointelegraph’s data confirms a powerful performance of BTC after it had witnessed a week of disappointing trading closer to the 6,200 USD mark. In the crypto markets, prices of ETH/USD reached 225 USD for the first time since September 7 after plunging as low as 171 USD.
However, the Ripple coin came up distinctly as a clear winner among all the major altcoins on Friday, September 21. It had a surge of more than 44 percent on the same day and enjoyed a weekly gain of about 68 present, trading at around 0.46 USD.
In the beginning, experts were not quite certain about the exact motivation for such an impressive rise. XRP had indicated that its payment transfer network called xRapid would soon start serving their first banking clients, Cointelegraph reported.
Ripple’s Partnership With PNC Bank
Ripple enthusiasts were charged up when the currency seemed to wake up some days ago and performed like it did not for many months. XRP has been on an upward swing for a while now after perhaps realizing that the asset could be nonessential to run the interbank transactions.
The markets appear to have responded positively to the news of XRP’s partnership with the PNC Bank, based in the United States. It has shared the news of is partnerships with several banks previously, creating an expectation initially that the XRP asset will be used by these banks.
PNC Bank’s partnership with the Ripple coin has been described by some commentators as having a good potential to facilitate easier interbank transactions, Cryptovesst wrote.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]