Crypto News | Ripple jumped 20 percent

We’ll begin today’s crypto news review with one of the emerging cryptocurrencies you should definitely keep your eye on – ripple. According to the latest information, ripple jumped 20 percent and reached its highest price ever. Most analysts agree that this rise of ripple has to do with the news that some Japanese credit card companies will start to use blockchain technology. Ripple jumped 20 percent and its price is now at $1.4, with its market capitalization reaching $54 billion. This makes it the third biggest cryptocurrency (behind bitcoin and ethereum).

Ripple is actually a San Francisco based start-up that uses blockchain technology in order to develop payments network for banks and other financial institutions. A digital coin used by network participants is called XRP and the company owns 61 percent of the 100 billion XRP. As for this year, ripple is one of the best performing cryptocurrencies – now it’s up more than 20,000 percent (it ended 2016 at 0.64 cent). As for the bitcoin, it has fallen a bit before Christmas, but bitcoin recovery has been strong in the last couple of days, and its price is now hovering a bit above $15,000.

In the last part of our today’s review, we bring you some other business news as well. According to Reuters, Apple and Amazon are discussing investments in Saudi Arabia with Riyadh. Apple is in talks with SAGIA, Saudi Arabia’s foreign investment authority, and Amazon is discussing about Amazon Web Services. For now, there are some smaller local providers, such as STC and Mobily, that will be Amazon’s competition. The latest today’s news is about the dollar. The dollar’s index against six major currencies went down significantly. It reached 92.734, which is its lowest level in almost a month. More on all of this in the days to come, so make sure you check us out regularly.

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Author: Max Rothstein

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