Ripple climbs 200 percent
A major partnership
On Thursday, March 30, 2017, MUFG’s banking arm The Bank of Tokyo-Mitsubishi UFJ (BTMU) publicly announced that it is joining Ripple’s Global Payments Steering Group (GPSG). Ripple’s GPSG is an interbank group for global payments system that is based on distributed financial technology and was launched in September 2016.
Advancing technology
Other banks that have already joined Ripple’s GPSG include Bank of America Merrill Lynch, Santander, Standard Chartered, Westpac Banking Corporation, Royal Bank of Canada and CIBC. Innovations within the Distributed Ledger Technology (DLT) ecosystem continues to thrive as more altcoins are expected to rise in value due to technology adoption and a growing user base.
Ripple Head of XRP Markets, Miguel Vias, tells Cointelegraph:
"While the recent surge in XRP is certainly influenced by Bitcoin's scalability issues, much of the recent momentum is due to the announcement that MUFG joined Ripple's steering group, GPSG. Unlike other digital assets, XRP has a clear use case and people are beginning to recognize that."
Ripple is here to stay. Not too late to get involved but be aware it is a bankers coin and has a pre mine of 100 billion. It is a short term hold I feel for 2 - 3 years as the coin will need to legitimise itself to big lenders and I feel based on the current market that foundation price and perception will have to be well beyond the $1 - $10 per coin. This could easily occur in the next 3 - 12 months as the stock markets are about to head south and cryptos are racing up the 'S' curve of early adoption.
It then dropped, too.
Sounds like very volatile currency to me.
200% includes the drop
Always expect a drop after a steep rise it's natural, it'll rarely drop back to what it was at before the rise though