While the recent buzz on Bitcoin and Ethereum has gone cold as of late, Ripple has quietly been making quite a run within mainstream circles. Making fast friends within the banking industry of late, Ripple is starting to make an impact and may offer a future alternative to established global trading icons like SWIFT. However, something happened Monday morning that has never happened before in the history of Ripple. Here what we know so far. Trading doubles within a half an hour According to CoinMarketCap, Ripple has reached a new all-time market capitalization high in early Monday morning trading, or Sunday night if you are in the West. In one hour, Ripple trading volumes went from $3.25 million to over $8 million, pushing the market cap to a new record of over $1.25 Billion. Ripple market cap However, Ripple trading on September 15th, 2016 reached higher levels, rates of over $22M, and Ripple’s values did not increase nearly this dramatically. Crypto Compare does corroborate that Ripple trading levels did spike Sunday/Monday. This story is developing and we will learn more as the day and week progresses, but there is one theory that may explain it, depending on their influence. Crypto Facilities out of London has released information on a Ripple/XRP Futures/Derivatives trading platform that will launch on Tuesday morning. Here is part one of their five-part tweet on the subject. 1/5 Documentation for XRP Futures now available on https://t.co/7wbSJPuTss , trading to launch Tuesday 11th, 8:00 am UTC — CryptoFacilitiesLtd (@CryptoFLtd) October 9, 2016 Given that the primary volume buyers of Ripple at this point seem to be banks, and we all know the affinity bankers have for trading derivatives, this could explain the phenomenon. For a detailed description of their new platform, click here . Potentially, the bankers […]
