XRP is getting another boost even as its price follows suit with the current market upswing. According to a recent report by the Weiss crypto ratings company, XRP now stands at the top among cryptos, with a cool rating of “A.”
To demonstrate XRP’s top performance, the report indicates that many other cryptos only made it to the “A-“rating.
XRP’s success is mainly driven by the major efforts made by Ripple is fostering the crypto’s adoption and making inroads among the various financial institutions that will use XRP as the base current in Ripple’s xRapid payment solution.
Ripple’s Competition With SWIFT
Ripple is currently coming up as SWIFT’s main competitor due to its relatively better system. For one, the company uses blockchain technology upon which its payment solutions are based. It has the RippleNet whereby interested financial institutions can liaise which each other directly.
Of late, the company has managed to score some major gains in terms of customers willing to join the RippleNet. Also, some of these customers have already expressed interest in using XRP as the base currency for cross-border payments.
This, coupled with XRP’s growing popularity as well as Ripple’s positive image, has had the effect of putting the company on the top as the possible successor to SWIFT. The fact that Ripple supports XRP has also played a huge role in shoring up the crypto’s adoption campaign and ultimately its high scores.
XRP Breaks Resistance Level
As it now turns out, the Weiss rating isn’t the only good thing happen to XRP at the moment. The crypto has increased in value over the last 48 hours with a cool 7% boost. At the time of this writing, XRP trades at around $0.362 with market cap totaling around $15.1 billion.
At this pace, it would be a surprise to see this popular coin soar even higher in the coming days.