Ripple’s XRP has seen major movement in the last 24 hours with a healthy 10% increase in its Market Capitalization. Positive spillover effects were visible for both Bitcoin and Ethereum with both experiencing upward movement.
Why the powerful market capitalization moves? The positive boost for the currencies arrived on the heels of Ripple Chief Executive Officer, Brad Garlinghouse and his hint at a SWIFT partnership. Ripple’s strong involvement with Sibos Conference (typically organized by SWIFT) fuelled potential partnership rumours.
This week SWIFT CEO, Gottfried Leibrandt spoke with Garlinghouse who has said at the Paris Fintech Forum that ripple was opened to “ways we could work with SWIFT”
Liebbrandt announced that Swift would be partnering with R3 a known rival to XRP. Swift intends to link the R3 platform with its payment’s standards framework Global Payment Innovations.
The marketplace should not underestimate the link between these 3 giants as the dispute between the R3 and Ripple has been sorted out by SBI Holding’s Yoshika Kitao who pledged a massive investment into R3 in May 2018, whilst still working closely, as it always has, with Ripple. SBI launched SBIVC specifically to increase the adoption of XRP.
CoinMarketCap, which tracks most major cryptocurrencies reports on the positive cryptocurrency effects between Bitcoin and Altcoins. Bitcoin enjoyed a rebound of +1% over the last 24 hours and Ethereum grew by an impressive 3.5% over the same period. Bitcoin Cash climbed back over the $2 billion market cap mark, adding 6%.
The market place will continue to wait with bated breath for the future plans of these two giants
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