Having hit a 4-week high of $0.27 at 14:00 UTC yesterday, the Ripple-U.S. dollar (XRP/USD) exchange rate is back to at $0.23 at press time – up 7 percent on the day, as per CoinMarketCap.
And though the spike has faded somewhat, there are reasons to be optimistic about the cryptocurrency’s price going forward.
The strong bid tone in XRP may be associated with yesterday’s revelation that American Express (Amex) and Santander have teamed up with Ripple for direct cross-border payments via the company’s blockchain tech.
Though XRP itself is not being used, Ripple’s blockchain network will help facilitate the near-immediate transfer of funds from Amex’s corporate customers in the U.S. to businesses that bank with Santander UK. Ripple has also said it expects XRP to play more of a role in future partnerships…