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Ripple (XRP) Price Shoots 0.75 USD, Triple Fold Jump In Two Days

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Since last Monday, the day when Bitcoin made its official debut on the futures market, the major digital coins have accelerated the upward trend by updating new records. Tuesday was the day Litecoin and Ethereum, Wednesday and Thursday were dedicated to Ripple. Ripple coin has tripled it’s value in last 48 hours. Ripple (XRP) price shoots to 0.75 USD from 0.24 USD with in two days.

XRP coin price was dancing between $ 0.20 t $ 0.30 since last July and was almost stable. While the majority of crypto currencies were trading in negative since last 24 hours. Ripple is among the few to register the positive uptrend. Ripple’s current market capitalization now ranges to around $ 28.9 billion. The trading volumes of the last 24 hours have exceeded 4.3 billion dollars. Definitely impressive data.

Ripple (XRP) Price Shoots

With today’s gains, the Ripple has risen more than 11,500% from its price of 0.006422 USD at the start of the year. The Bitcoin has risen to a maximum of $ 17,364.56, which brings the rise from 1 January 2017 to 1,600%. Litecoin has risen 7700% in the same time, thus making the rise of Ripple (XRP) much higher than any other crypto currency in 2017.

In plain English; 1 USD invested in Bitcoin on January 1 2017 becomes 16 USD, 1 USD invested in Litecoin becomes 77 USD and 1 USD invested in Ripple (XRP) becomes 115 USD as of today.

Possible Reason For Ripple Price Surge

  1. Although all the cryptocurrency are breaking their lifetime high, value of single XRP is cheapest compared to that of Bitcoin and Litecoin. Price tag under a US Dollar makes it attractive among new traders and investor. Being the cheapest yet one of the oldest and reputed coin makes people asking themselves whether to buy Ripple is a good choice today, to jump on the “crypto-cart” before the price rises excessively and comes out of our reach. Although it is still early to compare one XRP price to one Bitcoin price.
  2. According to a report published on nikkei.com, banks in Japan and South Korea might start testing Ripple’s blockchain platform from this Friday. The aim of this project would be to reduce the cost of transactions by 30% and transfers time from one day to few seconds between the two countries. Bithumb, one of the largest korean exchange was driving the 33% of total volume in last 24 hours. Looks like Koreans are buying in XRP coins in bulk.
  3. The Ripple (XRP) crypto currency was the first one to accepted in financial institutions. XRP parent company’s link with banking world has benefited it’s stellar rise. A recent agreement with American Express could also be a trigger to rally. The San Francisco company recently confirmed a partnership with American Express. The goal of Ripple and American Express partnership is to solve today fintech problems by offering instant blockchain solutions.
  4. The important thing is that the innovative technology, which makes ripple very fast, secure, and above all much cheaper than traditional systems (such as Swift ). So it is plausible that if XRP keep it’s promises that it can be adopted by a large number of banks all over the world.
  5. Speed, Ripple is still at the top of it’s special speed classification with 4 seconds of waiting against the 2 minutes of ethereum and the 10-30 minutes of bitcoin transaction time and 1-3 days of modern banking technology (i.e. swift transfers).

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