Ripple, also knows as xrp, is the name of a payment network and the company that owns this technology. It was realeased in 2012, with the goal to offer “secure, instant and nearly free global financial transactions”.
What makes this cryptocurrency different from the others is its connections to banks, like Santander, Bank of America and UBS. Recently, some financial services companies in Asia ( Japan and South Korea) decided to adopt Ripple’s technology, pushing the cryptocurrency to its highest price. The Telegraph says that “ Ripple’s grothh came after reports its payment system was being tested with a host of global banks, with Japanese and Korean credit card comapnies confirming they would pilot the technology”.
Ripple is so attractive to banks ( but also to smaller companies) because of the low transactions fee, unlike bitcoin that has very high fees. What ripple has in common with bitcoin is the blockchain technology, but faster and more powerful.
The company created 100 billion XRP , and 38 billion are already in circulation, and the rest will be released at the amount of 1 billion XRP per. month. Ripple market capitalisation is 110 billion, and it became the second cryptocurrency after bitcoin to surpass 100 billion market cap.
Today, on january 3rd, ripple price past 3 dollar, hitting a new all time high. This incredible growing over the past months is attracting always new buyers, helping the cryptocurrency to continue with wind on its sails.
Its percentage gain in 2017 was around 35000 percent.
If platforms like Coinbase or Coinsquare start to add ripple to their exchange, the price of this cryptocurrency may reach incredible highs, as million of users will have the chance to trade ripple.
The Coinsquare CEO Cole Diamond said “we are going to add Ripple, we are going to add Monero”
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