Ripple which is referred to as a banking oriented cryptocurrency has a very good growth rate. The currency has now even overtaken Ethereum as the second biggest cryptocurrency in terms of market cap. The current market cap for ripple is now $73.6 and has risen to 42.7% in the last 24 hours alone.
Ethereum has had a good popularity, and at some point, it was seen as if it would replace Bitcoin as the most popular cryptocurrency. In fact, this is the very first time a cryptocurrency has gone ahead of Ethereum since May 2017. Ripple has been very volatile of late and has seen very all-time highs this month alone.
Ripple is more friendly than Bitcoin. Even though its latest surge is not well explained, the cryptocurrency is designed in a unique way. In fact, it’s designed to be faster and secure during its transactions. The cryptocurrency is so unique such that even banks are tempted to adopt it. Recently banks in Japan and South Korea tested the cryptocurrency.
Apart from Ripple, the other cryptocurrencies have had a mixed day. Ethereum moved up by 2.8%; Bitcoin hasn’t moved for almost 24 hours while Bitcoin Cash went down by 7.9%. Lastly, Litecoin went down by 4% and is now trading a $241.
Most of the focus in 2017 has been on Bitcoin, and people never looked at the other cryptocurrencies much. However, Ripple has had an insane 2017 in terms of growth. In January it was possible to buy ripple for $0.0060. The price is now at $1.8 which means the currency has had a 29,000% growth rate. In 2018 the currency may be one the most influential if it will not be the one to watch.
Investors are looking for a currency that is easy and secure to invest in. With Ripple the simplest one it may attract more attention from investors. This may lead it to compete with Bitcoin.