Why Did Ripple (XRP) Rise?
Ripple (XRP) is a cryptocurrency and payment network that enables real-time international money transfers. The Ripple network is available for financial institutions and other payment service providers. Ripple’s XRP currency is used to initiate the network’s transaction fees and transfers.
The claim that Banque de France, the Central Bank of France, did not consider XRP in its CBDC (Central Bank Digital Currency) studies may have aroused great interest in those who collected cryptocurrency. However, this claim does not seem to be confirmed by official sources. Banque de France examined the potential of XRP in a research article in 2016 and found that it could be used in cross-border payments with the traditional banking network. The article suggests that XRP can solve this problem.
The rise in the price of XRP may be the effect of such news and developments. It may also be one of the factors affecting the price of XRP in the decline of the SEC’s lawsuit against Ripple members Brad Garlinghouse and Chris Larsen. The price of any cryptocurrency can be affected by a number of factors, so it is important to keep up with its existence and availability, market news and current information.