Digital Currency Ripple Soars 70% Overnight

The cryptocurrency Ripple, which is used by many banks, shot up dramatically in the last 24 hours, climbing to nearly 30 cents from yesterday’s price of around 17 cents. The price surge also saw the total value of Ripple grow to $11 billion, briefly making it the third most valuable digital currency behind bitcoin and Ethereum.

For those unfamiliar, Ripple is like a corporate cousin to bitcoin. It relies on blockchain software to create a permanent, indelible transaction record but, unlike...

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