XRP price (XRP/USD) surges as Ripple acquires Iceland-based business

XRP price (XRP/USD) surges as Ripple acquires Iceland-based business

The price jump came as Ripple, the San Francisco-based start-up that developed the XRP token, announced that it had acquired Icelandic crypto trading firm Algrim in an effort to further expand its operations in Europe. In a blog post published today, the company said that “[t]he new Icelandic team will play an integral role in the ongoing development of Ripple’s On-Demand Liquidity (ODL) product which utilizes XRP for production cross-border payments”.

“Iceland will serve as one of Ripple’s engineering hubs with plans to bring on more technical talent in the region,” Ripple added.

In today’s trading, the XRP price stood at $0.257, as of 15:45 BST. The digital currency has gained 8.1% over the past 24 hours, which makes it the best performer in the crypto top 10.

Featured image: Stanslavs / Shutterstock.com

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The post XRP price (XRP/USD) surges as Ripple acquires Iceland-based business appeared first on The Independent Republic.

 

source: https://theindependentrepublic.com/xrp-price-xrp-usd-surges-as-ripple-acquires-iceland-based-business/

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