The new and world’s fourth-biggest cryptocurrency, Ripple has passed a dollar for the first time in its history.
According to CoinMarketCap, Ripple’s XRP token has achieved an all-time high of $1.09 USD, at the press time. However, it equates the enormous rise of 1783% in value from the beginning of the year.
Remarkably, around $43billion is invested in Ripple worldwide. Thus, it has a number of high profile users includes many multinational banking firms.
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The CoinMarketCap data unveils that, the trading of Ripple increase around 25% within 24 hours at Bithumb, the South Korean exchange. Meanwhile, Bitfinex, an Hong-Kong exchange has seen volumes rise over 10%.
In the comparison, Bitcoin has seen a 1514% appreciation in value during 2017, trading at $963 in Jan. Moreover, in recent days, Bitcoin has also overcome the negative press. But the value reached more than $19500 on 17 Dec.
Additionally, Ripple was commencing in 2012 and thus is it avail on 30 cryptocurrency exchanges. The currency is popular with financial institutions and banks as for its speed, reliability, and security.
Furthermore, Ripple’s intention is to streamline the transfer of funds to almost any other currency in a world with five seconds.