The price of the third largest crypto asset in the market, Ripple’s XRP, has risen by 11 percent during the last day that enabled the digital asset to go over the 0.28 USD point for the first time this year. At the same time, Ripple made a move to increase its influence in Latin American countries by establishing a new partnership with Intermex.
On February 4th, Ripple Labs, which is a blockchain company based in San Francisco, entered a partnership with Intermex, the leading payment company in Latin America that has over 100,000 spots. As a result of the partnership, Intermex now will have the opportunity to make payments that are quicker and more inexpensive to Mexico with the help of the RippleNet system that currently has more than 300 customers.
Even though it is vague if the partnership with Intermex influenced the price of XRP in any way, Josh Rager, a crypto trader, made the suggestion that the increase of Ripple’s XRP price to such heights was driven by BitMEX, when the crypto asset had a pair added with the USD on the exchange platform.
According to reports by U.Today, as the value of XRP increased by 8 percent, the other digital currencies in the TOP 10 by market cap were having price drops. After the extreme increase of the crypto price, XRP experienced another push upward and went above 0,28 USD. As the digital asset goes up, a number of crypto traders were following the price movements without committing to buying the currency. At the same time, a crypto analyst recently attracted attention to the fact that for the first time since March of last year Ripple’s XRP went over its 200-day price moving average.