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XRP’s price is up nearly 11% in the last 24 hours, outperforming the rest of the top 10 largest cryptocurrencies by market capitalization. At the time of publication, XRP trades at $0.401 after reaching intraday highs of $0.41 earlier.
XRP’s latest rebound seems to be supported by favorable technicals amid the general cryptomarket recovery. XRP has overtaken Cardano (ADA) to rank as the sixth largest cryptocurrency in terms of market capitalization per coinmarketcap data.
Three Spotlight Moments for Ripple in the Year
Despite the unimpressive market conditions in 2022, Ripple has had several spotlight moments. Here are three that stand out:
The Stand is Finally Out of Tacos
On July 17, former Ripple CTO, Jed McCaleb, sold all of the XRP in his “tacostand” wallet on July 17. To put things in perspective, he had 9 billion XRP units at the time the XRP LEDGER was founded in 2012.
Colombia and Peersyst Technology Partners
In order to record and register land registry rights in Colombia, Ripple Partner Peersyst Technology signed a contract with the Colombian government. Property title searches are still a cumbersome process and are mostly paper-based. The registry’s placement on the blockchain will greatly accelerate property transactions, thus spurring the domestic economy.
The XRPL-based Digital Asset Notarization program, which will be used to register land grants for the Colombian government, will be the first use case. A Wave 2 XRPL grant was given to Peersyst Technology for a different NFT project.
On-Demand Liquidity (ODL) Is Leveraged by FINCI, and Ripple Enters a New Market
Ripple announced a collaboration with FINCI, a Lithuanian money transfer provider, in order to facilitate quick and affordable retail remittances and business-to-business (B2B) payments utilizing ODL, which uses XRP for crypto-enabled cross-border payments.
The agreement symbolizes the entrance of a new market for ODL and enables FINCI’s customers to conduct seamless transfers between Europe and Mexico. Ripple’s first client in Lithuania is FINCI.
