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XRP (CRYPTO: XRP), the token associated with Ripple Inc, traded 7.59% higher at $0.75 over 24 hours at press time on Thursday.
What’s Moving? XRP moved up 6.05% and 1.14% against Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), respectively.
The Ripple cryptocurrency has shot up 25.49% over a seven-day trailing period. On a year-to-date basis, XRP is up 217.4%.
See Also: How To Buy XRP (XRP)
Why Is It Moving? On Wednesday, Ripple said it was launching RippleNet’s first On-Demand Liquidity service implementation between Japan and the Philippines.
Announcing our newest On-Demand Liquidity corridor in (drumroll please…) JAPAN ! https://t.co/xiHXnYjo6z
— Ripple (@Ripple) July 28, 2021
The move would allow Ripple to tap into the nearly $2 billion a year remittance opportunity between the two countries.
See Also: Dogecoin Creator Says This Is The ‘Ultimate C*ap Coin — ‘ And For A Good Reason
Social media interest in the coin has spiked on the news with XRP trending at the second spot behind Bitcoin in terms of mentions on Twitter Inc’s (NASDAQ:TWTR) platform, as per data from Cointrendz.
XRP was also trending at the third spot on Stocktwits’s list of 10 trending streams at press time.
Ripple is embroiled in a legal war with the U.S. Securities and Exchange Commission and secure a crucial win in April over the latter.
Read Next: Bitcoin, Dogecoin, Ethereum Rangebound But These Minor Altcoins Are Skyrocketing
Photo: Courtesy of QuoteInspector
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