The Third-Largest Cryptocurrency, Ripple’s XRP, Up Almost 4000% in Second Quarter
RIPPLE EXPLODING IN Q2
The digital currency market has been dominated by Ripple’s XRP for the first half of the year. XRP finished its second financial quarter up 3,977 percent from the beginning of the year at $0.26. It has now dropped to about $0.19, but this is still an an all time high
Ripple and its token, XRP, have dominated the crypto currency market during the first half of 2017 as XRP finished the second quarter up 3,977 percent. This is an example of cryptocurrencies booming during an overall digital currency
In Q2 alone, Ripple recorded more than $11 million in transactions, and XRP joined 25 new exchanges. XRP now has the third-largest market capitalization in cryptocurrencies — behind only Bitcoin and Ether. Ripple has also recently differentiated the use case for XRP, which, in turn, spiked interest in the cryptocurrency in Q2: “With respect to XRP, we are incredibly focused on international payments, I think we are probably the only digital asset that has a clear use case with respect to what we are trying to do with the asset,” Miguel Vias, Ripple’s head of XRP markets, told CNBC.
CRYPTOCURRENCY RENAISSANCE
Ripple and XRP are just part of the latest example of cryptocurrencies booming during an overall digital currency renaissance. Right now, various countries are experimenting with cryptocurrencies, acknowledging their role in the future of finance and looking to secure their place in that future. For example, the South African Reserve Bank, the country’s central bank, is trying on Bitcoin regulation for size; China is testing a national cryptocurrency — a sensible option in a country that has gone almost totally cashless in urban areas; and “Ethereum Island” may be coming to the African coast as Mauritius moves to take its place as a cryptocurrency and blockchain
There is now a third company challenging the top two players in the cryptocurrency world and it is called Ripple.
The Third-Largest Cryptocurrency, Ripple’s XRP, Up Almost
Ripple and XRP are just part of the latest example of cryptocurrencies booming during an overall digital currency renaissance. Right now, various countries are experimenting with cryptocurrencies, acknowledging their role in the future of finance and looking to secure their place in that future. For example, the South African Reserve Bank, the country’s central bank, is trying on Bitcoin regulation for size; China is testing a national cryptocurrency — a sensible option in a country that has gone almost totally cashless in urban areas; and “Ethereum Island” may be coming to the African coast as Mauritius moves to take its place as a cryptocurrency and blockchain technology hub.
What is Ripple?
Ripple is the name for both a digital currency (XRP) and an open payment network within which that currency is transferred. It is a distributed, open-source payments system that’s still in beta. The goal of the ripple system, according to its website, is to enable people to break free of the “walled gardens” of financial networks – ie, credit cards, banks, PayPal and other institutions that restrict access with fees, charges for currency exchanges and processing delays.
The open coin behind ripple coin helps keep the coin freely flowing.
Ripple is like Tbc and bitcoin peer to peer transcations thru paypal and a non third party transcations.