“A new infographic was recently published showing the huge growth Ripple has had over the last 12 months. With the low being considerably lower than $0.01, we have seen a rise of over 36,000% to a high of $3.84, which was printed on the 4th of January 2018. The growth has been rapid with the business agreeing on many partnerships with major financial institutions, including highly regarded banks, Santander, UBS, and UniCredit.
Ripple is a new payment network that has a specific payment protocol behind it. Its biggest attraction to these financial powerhouses is its transaction and settlement time. When compared to the other two cryptocurrency leaders, bitcoin and ethereum, ripple’s settlement time are around four seconds, whilst ethereums is two minutes and bitcoin’s is close to an hour.
Recently the whole cryptocurrency market has had a huge correction with many coins losing well over half of their value. Ripple was no different, it too had a large sell-off but this is volatility that is still expected in the cryptocurrency markets. The trigger of the sell-off was first due to South Korean officials signaling that they could clamp down on cryptocurrency exchanges, however, this tone lightened throughout the day.
As South Korea appeared to trigger the crypto sell-off it was the Chinese who picked up the momentum. China is looking ‘to block domestic access to home-grown and offshore platforms that enable centralized trading’ according to Bloomberg reports, citing within the Chinese government.
Despite the sell-off we have seen, the underlying value of the ripple product is still there to see. The San Francisco based startup owns 61.3% of the 100 billion XRP coins, leaving 38.7% in public circulation and as of January 5th, 2018, RRipple’smarket cap was $235.4 billion. At this time the co-founder, Chris Larsen, was richer on paper than the co-founders of Google, Larry Page and Sergey Brin!
We here at Buyripple.com see that there is still room for this cryptocurrency to grow. Buyripple.com editor, Cameron Bowen, added:
“Despite Ethereum taking second spot back from Ripple, we feel that Ripple will likely be one of two cryptocurrencies to de-throne bitcoin at the top of the market cap table. Should Coinbase launch Ripple, we believe a price of $10 is realistic initially, with $25 likely by the end of 2018.”