XRP was performing better Bitcoin and the rest of the top rivals on Monday as investors/speculators anticipated bullish outcomes from an upcoming Ripple event. The third-largest cryptocurrency by market capitalization established an intraday high of $0.2936 as of 0616 GMT. The move uphill brought its daily gains up by 5.73 percent, as calculated from the opening price. At the same time, XRP stole a large chunk of capital from the Bitcoin market, rising by as much as 5.13 percent against the benchmark cryptocurrency. The XRP-to-BTC exchange rate earlier established a sessional peak of 3,523 sats. At its lowest in Q3, the pair was trading at 2,967 sats.
The upside swing in Ripple’s XRP closely followed its investment into a mobile wallet provider. The San Francisco-based blockchain company announced that it’s wing Xpring is injecting $750,000 into BRD. The move, according to Ripple, would prompt BRD to add support for XRP tokens, which, in turn, would boost the altcoin’s adoption.