Ripple XRP, the third largest cryptocurrency, has been having a moment recently. Its value has grown 30% in recent weeks, partly due to the adoption of some of Ripple’s products by some of the world’s biggest banks. Ripple’s price may also have benefitted from the halo effect of Bitcoin’s recent and significant increase in value, meaning now may be a good time to buy .
Ripple XRP is currently trading at around 0.48 and has a market value of $20.2 billion. There has been a renewed interest in Ripple XRP, and cryptocurrency in general, from investors since Facebook announced the launch of its own cryptocurrency, the Libra recently. Some experts have even gone so far as to claim that Libra’s launch could represent the end of traditional fiat currency. CEO of BitMEX, the Bitcoin derivatives company, Arthur Hayes, claimed the Libra launch could ‘destroy’ the current commercial banking system.