Ripple’s XRP token soared above $1 on Thursday for the first time in the token’s history, adding more than 41% in just days.
While short term gains are certainly possible, speculation that the world’s fourth largest cryptocurrency becoming available on Coinbase (the most widely used exchange at 13-Million active users) in early 2018 are steadily driving up prices.
The Ripple company announced a partnership with American Express that aims to solve liquidity issues in the face of remittances. With this partnership, Ripple aims to help AMEX achieve nearly instant blockchain-based payments.
Additionally, TechCrunch founder Michael Arrington is launching a $100 million crypto ledger that vainly goes by the name Arrington XRP Capital. The Arrington XRP Capital hedge fund will use the technology to pay distributions, salaries and other fees in Ripple (XRP).
While businesses based in the United States are adopting Ripple, parts of Asia are in an investment frenzy over Ripple (XRP). Forbes reporter, Kenneth Rapoza, write that traders in Asia are “going mad” for Ripple.”
With Ripple (XRP) gaining more traction and buzz over Coinbase offering Ripple (XRP) in early 2018, the token appears to be both a good short and/or long term investment.