Why is the Ripple price rising?

XRP, Ripple's native cryptocurrency, has the strongest weekly performance of all the top 10 coins: 25.5 percent. On a daily basis, the growth is also significant: 10 percent in 24 hours. With a market cap of $38 billion, XRP is roughly on par with BNB.

The reasons for the strong performance vary. On the one hand, Ripple reports that the company will research Digital Lari in cooperation with the Georgian National Bank. If the project is implemented, Ripple could play an important role in shaping the design of the Georgian CBDC.

In addition, XRP recently received approval from the Dubai Financial Services Authority (DFSA). The token can now be traded at the Dubai International Financial Center (DIFC) and integrated into financial services. Until now, this honor was reserved only for BTC, ETH and LTC.