Ripple and Japanese Credit Card Firms Partner
Ripple and Japanese credit card firms partner with each other, which drove its prices to its all time high value. While Ripple was enjoying this price rally, the rest of the market was having a rough day, with majority of coins taking anywhere from 10 to 20 percent losses.
This is not common phenomenon in the cryptocurrency world, where news or development–however minuscule or significant it might be–directly impact the valuation of a particular coin or token.
Something very similar in nature happened with Ripple as well when the news broke out of it partnering with a Japanese credit card company.
"SBI Ripple", on 27th Dec 2017, announced the inception of a 'consortium' between Ripple & a number of credit card companies in Japan. These credit card companies will utilize the Blockchain technology for the value transfers from one another. Ripple's Blockchain will be the underlying technology that would power the financial interactions between all member of the consortium.
The aforesaid turn of events have in handy for Ripple & its hodlers. Ripple's price rose to its all time high of $1.52–at the time of writing this post.
Before this news broke into scenes, the price of one Ripple was leaking around $1.1, which is now gone pass $1.5.
On the market-cap front, Ripple is sitting pretty on the 3rd position with its mammoth $58.8 Billion valuation, only behind Bitcoin ($254.9) & Ethereum ($73.5).