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Ripple, also known as XRP, is the third largest cryptocurrency in terms of market capitalisation – which refers to a company’s outstanding shares. The cyber-currency currently has a market capitalisation of $67.3billion. Ripple rose by 9.4 percent when all other major players dropped. And this year has seen ripple rise from 0.6 cents per coin to $1.70 per coin at the end of it.

GETTY Ripple on the rise whilst other cryptocurrencies fall

The cryptocurrency has increased by $0.25 this month alone. One big factor that helped boost ripple was on the same day the Japan Bank Consortium, a coalition of 61 Japanese financial institutions launched a new cross border payment trial with two of South Korea’s largest banks. This was organised by SBI Ripple Asia. SBI Ripple Asia is an Asia-Pacific partnership of ripple and SBI Holdings and was formed in 2016. SBI Ripple Asia said it has entered into partnership agreement with some of the leading Japanese credit card companies, including JCB, Sumitomo Mitsui Card and Credit Saison.

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