Ripple Made A Big Surge In Value in 2017

Ripple Made A Big Surge In Value in 2017

Ripple hits more than $100 billion surpassing Ethereum and ranking as the second most valuable cryptocurrency after bitcoin, according to coinmarketcap.com.

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Ripple hits more than $100 billion surpassing Ethereum and ranking as the second most valuable cryptocurrency after bitcoin.

At the end of 2017, the market value of Ripple or XRP  reportedly rose to the record $100 billion, and as a result turned into the second most valuable cryptocurrency after bitcoin.

The cryptocurrency made a big leap in value over the course of the year, raising with more than 35,000% in the period, as the Guardian reported. Ripple was firstly trading at about $0.006 and was estimated at $2.25 on December 31. According to coinmarketcap.com, the cryptocurrency is now valued at $2.35, ranked just after bitcoin, which is now having a price of $13,838.80.

In a recent tweet, Ripple`s CEO Brad Garlinghouse said:

“Proud to be ending 2017 with incredible momentum on a number of fronts! A huge, heartfelt thank you to the [email protected], our great partners and an incredibly supportive $XRP community.“

Garlinghouse is a former senior executive at Yahoo and AOL, and a CEO of the file transfer site Hightail (formerly YouSendIt), as reported by the media. Speaking to Wall Street Journal, he said that the recent success of the cryptocurrency owes to its growing number of customers.

The company has more than 100 banks signed on its platform, RippleNet. Banks are working with Ripple`s technology to process cross-border payments in real time with end-to-end tracking and certainty, as the company explained. For example, ReiseBank, the subsidiary of DZ BANK headquartered in Frankfurt, has recently exchanged $1,000 Canadian dollars from ATB Financial into euros using the Ripple`s solution. The settlement was completed in just eight seconds, as Ripple wrote on their website.

It is interesting to see whether Ripple will continue its upward climb, beating strong competitors like Ethereum, among others.

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