2017 was indeed a huge year for blockchain and digital assets. Ripple did remarkably well towards the end of December, 2017. It did not only reach the 3 USD mark, but also beat 2nd
most popular cryptocurrency, Ethereum, as no one even predicted this happening.
Bitcoin is currently the largest cryptocurrency by market cap. Ripple market value is now double of Ethereum’s and half of Bitcoin’s value. On the 6th
of January, 2018, the market capitalization of Ripple was 123 billion USD, making it the second largest cryptocurrency by market cap.
The digital currency saw astonishing gains, from $0.0065 per token in January 2017, to $2.47 by the end of the year.
Ripple has already made a name for itself in this fast changing world of cryptocurrencies.
A lot of financial institutions and analysts are predicting a strong future for this network.
Ripple – which officially trades as XRP – is designed to increase global liquidity of money by allowing transfers around the world to take place at record speeds and for very little in terms of fees.
It is the best-performing cryptocurrency with 380-fold increase.
Released in 2012, Ripple supports tokens representing fiat currency, cryptocurrency, commodity or any other unit of value such as frequent flier miles or mobile minutes.
It has reduced the aged system of transferring money via SWIFT or Western Union to something of the past.
After proving itself to be an incredible platform, Ripple is now fixated totally on collaborating with banks, presenting them with a more effective and lucrative way to direct immediate payments globally.
Ripple has been depicted “a frictionless experience to send money globally using the power of the blockchain”.
Unlike bitcoin which was designed to replace physical currency, Ripple was created to help large financial institutions transfer money internationally cheaply and expeditiously.
Ripple is quite distinct from other cryptocurrencies, including bitcoin. XRP is controlled and owned by one company, Ripple.
Since its debut, the Ripple protocol has been receiving attention in both the financial and mainstream media.
XRP isn’t intended to be a publicly traded investment, but rather it’s a tool for exchanging money across borders in a fast manner.
With this, it’s fair to deduce that Ripple is the next cryptocurrency that would make it big in 2018.