The price of XRP, the native currency on the Ripple network, surged overnight, climbing to its highest total in more than four months.

XRP reached as much as $0.008288 at 16:44 UTC on CoinMarketCap, which represented a roughly 13.7{88c91daedd271a990a10650c05d769cae2765e0603edf30ca95f18704e5748e8} gain for the session and the highest price since mid-November, data reveals.

In statements, Ripple gateway operator Raphael Olaio noted that he believes the new boom is a result of the ongoing gains observed in the cryptocurrency market, amid volatility in the bitcoin market.

Olaio told CoinDesk:

“I think is part of the tide that came to non-bitcoin lately. People are educating themselves about other options.”

The operator of a permissioned distributed ledger with its own tradeable asset, Ripple provides global solutions for financial settlement, has been enjoying growing visibility lately, raising $55m during a Series B funding round in September.

The company has been enjoying a period of robust growth, and this development gave the company additional assets it could put toward expansion. In October, a dozen banks announced that they had completed several trials testing XRP’s ability to provide liquidity to bank accounts across the world.

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