Similarly, bitcoin prices rose in December 2017 in run up to the bitcoin's inclusion in the futures trading platforms that include CME Group and CBOE (Chicago Board options Exchange). Thus, both Ripple and Bitcoin's prices surged due to some sort of trigger.
At the time of writing Ripple has already knocked Ethereum off the second spot by market capacity. One must remember that it's the same technology of blockchain that is used in all the digital currencies. The cryptocurrency traded mostly sideways in today's morning session, but another surge pushed it closer to the $2.50 mark at the beginning of the afternoon session. Blockchain is to cryptocurrency what batteries are to phones. Other cryptocurrencies were made following the success of Bitcoin.
As mentioned earlier, Ripple's main reason was to become a solution for cross-border payments.
Also known as banker's cryptocurrency, ended the year on a high note with a market cap of $85 billion.
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Ripple, as we know it, actually consists of three parts - the Ripple Lab situated in San Francisco, Ripple Net which is the payment network created to save banks time and money for transferring large amounts of money, and then there's the actual payment token, XRP, which can be bought as a cryptocurrency. Bitcoin is now very expensive for many investors compared to Ripple which is very affordable.
That price can move around pretty sharply but you will have little trouble selling your shares and turning them into hard cash. With Ripple's price set to surge to greater heights in 2018, investing in Ripple when its now at a lower price seems a wise option.
Throughout the previous year, ether has also remained somewhat more stable than its older cousin bitcoin, which experienced a series of staggering highs as 2017 progressed. The value of a currency may be an indicator of how well it's doing however a better indicator would be the growth rate which would make Ripple the most successful currency of 2017.
"In a landscape of a lot of hype, Ripple is the one that is delivering a reality", Brad Garlinghouse, CEO of Ripple, said in a phone interview with CNBC. Only time will tell what happens in the unpredictable crypto market.