How Ripple’s XRP Gained 9% Against the US Dollar in 3 Hours

Ripple's XRP
Ripple's XRP

On Wednesday, Ripple’s XRP posted 9% gains soon after Swift announced a partnership with R3 which is a blockchain consortium.

At 0800 UTC, the XRP/USD was trading at 0.2934 on Binance. As the market sentiment unveiled , the pair posted three consecutive hourly sessions in green, taking the value to as high as 0.3292. By 1300 UTC, Ripple had risen to 12.2%. In comparison, Bitcoin surged at 1.29%, and Ethereum gained 2.65% against the US Dollar.

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Swift , Brussel-based global banking giant today announced that it would integrate R3’s trade finance platform with its own Global Payments Innovation solution (GPI). CEO, Gottfried Leibbrandt speaking at the Paris Fintech Forum clarified that the platforms would merely explore potential inter-connectivity between their cross border payment solutions.

Leibbrandt told CNBC : “We are announcing later today a proof-of-concept with the R3 blockchain on [a] trade where you can initiate a payment on the [trading] platform, and then it goes into GPI,”

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