The Ripple price (XRP/USD) has spiked in today’s afternoon trading, following news that another payments provider has agreed to test the token.
The third-largest cryptocurrency on the market had a lackluster trading session yesterday, struggling to gain momentum amid thin trading volumes. The digital coin finished the session at $0.904, its lowest close since February 8.
While the cryptocurrency has traded around this level for the better part of today’s session, it has surged to significantly higher levels in more recent trading. According to data from cryptocurrency tracker Coinmarketcap, the Ripple price is currently hovering around $0.94.
The increase followed an announcement regarding a new partnership between Ripple, the San Francisco-based company behind the digital token, and a Cambridge Global Payments - a global provider of commercial payment solutions, owned by FLEETCOR Technologies. According to the announcement, Cambridge is launching a pilot program to use XRP in cross-border payment flows through Ripple’s xRapid solution. Cambridge is also exploring xCurrent, Ripple’s enterprise software for messaging and international transaction settlement.
“We are excited for the insights this pilot program is expected to deliver, and we will use that information to help both Cambridge and FLEETCOR develop our use cases for blockchain in international payments,” Cambridge’s chief operating officer, Mark Frey, said. “We strive to deliver best-in-class cross-border payments services, with speed and transparency. We look forward to exploring how Ripple can help us continue to improve the customer experience using new technology.”
In today’s trading, the Ripple price stood at $0.940, as of 15:05 GMT. The cryptocurrency has gained 2.4% in the past 24 hours