Ripple, the world’s second-largest cryptocurrency by market capitalization, hit a fresh record high on Thursday as its strong rally continued.
Ripple’s XRP token hit a high of $3.26 on the Poloinex exchange earlier and was at $2.99 on 11:22 AM GMT. Ripple, now has a market cap of $137.7 billion, in second place behind bitcoin, which has a market value of about $249 billion. Ripple sells blockchain technology, powered by its own cryptocurrency XRP, to banks and payment providers and other financial institutions to speed up cross-border payments.
Prices have also gained momentum with investors looking at alternative digital currencies beyond bitcoin. Bitcoin’s dominance of the cryptocurrency market hit its lowest level ever on Tuesday.
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