Why XRP Jumped Today
XRP (CRYPTO: XRP) is jumping on Monday, up 3.9% in the last 24 hours as of 8:13 p.m. ET. The spike comes as the S 500 gained 0.5% and the Nasdaq Composite gained 0.4%.
Ripple, the company behind XRP, announced a strategic partnership with Jeel, the innovation arm of Riyad Bank to support Saudi Arabia's efforts to upgrade its financial systems under the Vision 2030 program.
Ripple has recently moved to mint international partnerships, working to embed itself into the banking systems of major regional players like Riyadh Bank. The new agreement will see Ripple and Riyad explore improvements in cross-border payments, Ripple's core focus, but also tokenization of physical assets.
Source Fool.com
