It is not a secret that asian market loves Ripple and its coin, XRP. South Korea’s Woori Bank is currently testing the Ripple network for overseas transactions and the Japanese Bank Consortium is also using the company’s RippleNet to speed up transfers and eventually do away with the old Swift system.
XRP is a favourite among Asian traders; the main part of the share is traded in South Korea on two main exchanges there, Bithumb and Upbit in KRW. Binance and Bittrex also account for over 20% of the global trade in XRP. Ripple is stable at third place in the charts with a market cap of just under $40 billion. Around $838 million has been traded in the past 24 hours making XRP the morning’s leading altcoin.
Later on Monday, it is reported that the first 90 of the 500 new personnel hired by Coinbase – the world’s biggest cryptocurrency exchange with 14 million users – will begin work, which is one of the signs that it is readying to reply Ripple.
That interpretation gained momentum with the news that Ripple CEO Brad Garlinghouse and Coinbase COO Asiff Hirji will make a joint appearance on the CNBC show Fast Money on Tuesday, with a possible announcement has also renewed interest.
Ripple’s presence on Coinbase has long been rumoured and the news that looks increasingly likely has boosted Ripple’s price on Monday morning – crossing the $1 mark for the first time since February 21.
It is hoped that it will signal a long awaited bull run for the token, which has declined from all-time highs of $3.34 in the first week of January.