On December 27th (Wednesday) we noticed that XRP rose by almost 20% to reach an all-time high of $1.43. The rise started soon enough after news started creeping in about creation of a consortium by SBI Holdings (a financial services company based in Tokyo) and SBI Ripple Asia (its subsidiary) along with few credit card companies in Japan for utilizing the blockchain technology.
Growth of Ripple and XRP
It is worth mentioning here that SBI Holdings and Ripple developed the SBI Ripple Asia way back in 2016 and Ripple makes use of blockchain technology for developing payment networks for digital asset exchanges, banks as well as other financial institutions.
Moreover, all the participants in this system make use of XRP as their digital coin for completing their transactions.