After Bitcoin, can you name the second largest cryptocurrency? Until recently it was Ethereum, but now it is Ripple. At the start of last year, Ripple was trading for less than a penny, and even just a few months ago you could still get Ripple for about 20 cents. But now the price of Ripple has absolutely exploded, and as I write this article it is sitting at $3.15. At this point Ripple has a market cap of more than 120 billion dollars, and those that got in when Ripple was under a penny have seen their investments go up by more than 40,000 percent.
If you can believe it, the price of Ripple is up more than 1,000 percent in the last 30 days alone. So why is Ripple doing so well right now?
Well, many analysts are pointing to the very strong relationships that Ripple has been building with financial institutions…
XRP’s price has benefited significantly from Ripple’s new partnerships with banks, noted Chris Keshian, co-founder of the Apex Token Fund, a tokenized crypto fund-of-funds.
He added that as XRP “surpassed ETH as the second largest cryptocurrency, market hype continued to drive the price.”
There are some that believe that Ripple will eventually surpass Bitcoin simply because it is a better way to send and receive money.
And without a doubt, functionality is the key for the long-term survival of any cryptocurrency. Speculative investment can take a cryptocurrency a long way, but at the end of the day it needs to function well in the real world, and that is one key advantage that Ripple appears to have. According to the Express, Ripple is being called “the Bitcoin that banks like”…