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The market capitalization of XRP has surpassed $40 billion.

For the first time since June 15, 2021, the cryptocurrency reached a price of $1.00 following GME’s RippleNet announcement

After Worldwide Money Express (GME Remittance) announced that the company has joined RippleNet, the global financial network of blockchain startup Ripple, XRP, the world’s 6th largest cryptocurrency, showed massive retail demand on Wednesday.

XRP’s market valuation surpassed $40 billion on August 11, according to Coinmarketcap, while the cryptocurrency’s price reached a high of $1.00.

XRP has gained around 10% in the previous 24 hours, making it one of the top ten digital currencies in terms of performance.

The price of XRP has risen by more than 25% in the last seven days.

The cryptocurrency now accounts for approximately 2% of all digital currency market capitalization.

XRP has increased by around 300 percent since the beginning of 2021.

The price of XRP has risen significantly as a result of Ripple’s new cooperation.

RippleNet’s adoption in Asia will be boosted as a result of the latest agreement with GME, according to the blockchain business.

GME Remittance is one of South Korea’s major non-bank remittance companies.

GME Remittance has joined RippleNet and is now connected to Siam Commercial Bank (SCB), Thailand’s largest bank by market value.

“We chose Ripple as our partner since we can expand into new countries with new partners in as little as 1–2 weeks using RippleNet.

In a recent statement, Subash Chandra Poudel, Director and COO of Global Money Express Co. Ltd. (GME Remittance), said, “This has substantially decreased the time to market and offers us with an edge compared to our competitors.”

RippleNet and XRP adoption

In order to enhance the use of RippleNet and XRP, Ripple has developed various collaborations in 2021.

Ripple announced a partnership with SBI Remit of Japan and Coins.ph of the Philippines for the launch of RippleNet’s first live On-Demand Liquidity (ODL) service deployment in Japan during the last week of July 2021.

The San Francisco-based blockchain business claimed a rise in XRP demand over the first three months of 2021 in its recent XRP Market Report.

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