XRP Spikes 10% as Several Institutions Adopt Ripple’s Services

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XRP Spikes 10% as Several Institutions Adopt Ripple’s Services
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Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Prices rose over 11% before slightly retreating on Monday, with trading volumes spiking to $2 billion from Sunday’s $1 billion, CoinGecko data shows. At the time of writing, XRP traded at 69 cents and replaced BNB as the fourth-largest token by market capitalization.No immediate catalyst for the gains existed on Monday.

On the same day, the firm said it would start working with the National Bank of Georgia on the Digital Lari pilot project, which will use the firm’s central bank digital currency platform.. Institutions can use the platform to manage and customize the entire life cycle of the CBDC, which includes minting, distribution, redemption and token burning.

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