Ripple current price (XRP to AUD): live updates & analysis

Posted: 31 December 2017 10:19 am


Ripple's XRP has been going nuts this week - here's what's going on.

List of exchanges that allow you to buy Ripple

Over the past month Ripple has signed some major partnerships across both the USA and Asia resulting in its price going up more than 450% in the same time.

As of 10:45AM AEDT on 31 December, Ripple's currently sitting at $2.86, up almost 60% over the last 48 hours. However, it's down from a high of $3.46 yesterday afternoon.

CoinMarketCap data showed that a little over 30% of XRP transactions in the last day have come from South Korean exchange Bithumb.

It’s believed a lot of this activity is due to Ripple's popularity in Asia. SBI Ripple Asia, Ripple's joint venture with Japanese financial institution SBI, announced earlier this week that it's exploring how it can use the technology in card payments across Asia.

This venture has been responsible for several big partnerships in the region, with over 75 companies now supporting the technology.

Earlier this morning XRP passed ETH to become the second-largest cryptocurrency by market value which also brought with it a mountain of press coverage, bringing Ripple into the mainstream. Since then, the spike has gone up even faster as speculative buyers look to jump onto Ripple while it's still growing.

There have been rumours continually floating around on Twitter and Reddit over the past 24 hours that Coinbase could be listing XRP sometime in early January. Such a move could bring another huge spike in price if the listing of Bitcoin Cash on Coinbase earlier this month is anything to go by. The price of BCH rose more than 60% in 24 hours after being listed on Coinbase.

The biggest reason backers are getting behind Ripple is that it is not just a cryptocurrency like bitcoin. Ripple is also used as a digital protocol that acts as a bridge to other currencies. Banks and financial institutions have already started to use this to allow real time transactions across the world in multiple currencies.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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