Ripple goes on a tear rising almost 20% so far today

The recent price action in the price of Ripple (XRPUSD) has just seen it spike sharply above $0.70. The move higher has actually taken place from below $0.65 around 8am this morning and that has deliver a really quite dynamic move, to as high as $0.7472 a short while ago. The catalyst for the move appears to have stemmed from news out of Japan and the Philippines, with news of a remittance tie up using XRP as the conveyer for cross border payments. The jump from low to high so far today has seen the price rise almost 20%. That makes it by far the biggest moves in the major crypto sphere so far today and and sent the price shooting above the 50 Day moving average that had been capping the topside yesterday. The move higher today brings the price much closer to its 200 day moving average. That is in place today at 0.7661. XRPUSD is just now trading at 0.7380