Yesterday, the entire cryptocurrency market was left astonished because of XRP move. The coin witnessed a massive momentum in the market by seeing a rise of more than 80% in the past 24 hours. It even took over Ethereum within a fraction of moments, with billions of difference in the market capitalization between Ethereum and XRP.
The rally was followed by the whole market speaking of XRP, with the XRP community stating that the long-awaited bull run has finally arrived and other communities calling this a market manipulation and stating this has a fine example for why the market needs regulation.
However, Justin Sun, the CEO and Founder of Tron Foundation, showed his unwavering support for XRP. Before the inception of Tron Foundation, Justin Sun was the Chief Representative for Greater China and the Advisor of Ripple Labs. He was one of the first employees of Ripple in the Greater China area according to his LinkedIn profile.
The Founder congratulated Ripple on his official Twitter handle. Justin Sun stated:
“Congrats to @Ripple! @justmoon”
He further added that the surge in the price of XRP is credited to Ripple’s recent partnership with PNC bank. He said:
“…With Bill Clinton keynoting Swell 2018, blockchain is going mainstream! As Ripple’s Greater China Chief Rep from 2014-16 and a Ripple shareholder, I’m confident financial institutions will adopt blockchain.”
Recently, the CEO of Ripple, Brad Garlinghouse announced that they have partnered with one of the biggest banks of the United States, PNC Bank. The firms will be working together to improvise the bank’s real-time cross-border payments for their commercial customers, an addition to RippleNet. Moreover, Ripple is also set to launch xRapid in the coming days. The product will utilize XRP as bridge currency for the transfer of value of one currency to another currency.
This move by Justin has gained a lot of support from the cryptocurrency community. With the majority stating that Justin has truly shown to be one of the great leaders in the space by stepping up and appreciating XRP and Ripple. A part of the community even claims that the two currencies are going to take over the top positions of the cryptocurrency market soon.
Crypto Steve, a Twitterati said:
“always positive to see leaders of great projects acknowledging each other’s hard work and success.”
Lee Van Cleef, another Twitterati said:
“I was reading this without looking who wrote it. I said to myself “this guy definitely seems to know what he is talking about”….then noticed It’s OUR GUY!!!! Big Tron Hodler and Believer here – Go Justin! Go #TRX”
Moreover, along with the surge in XRPs price, Tron [TRX] also witnessed a significant growth. The coin has seen a growth of more than 4% in the past 24 hours, according to CoinMarketCap. At the time of writing, the coin was trading at $0.023 with a market cap of $1.5 billion. TRX has seen a significant growth of over 15% in the past 7 days.