The Ripple price, which many investors claimed could not increase further after reaching $3, has demonstrated yet another 33.8 percent over the past 24 hours, as the market valuation of Ripple surpassed $142 billion.
Ryan Shea, a highly respected bitcoin developer and the co-founder of Blockstack, revealed that the “implied” market cap of Ripple, or the market valuation of the Ripple network based on the maximum supply of XRP, has surpassed bitcoin.
While analysts such as cryptocurrency fund Autonomous Partners founder and managing director Arianna Simpson believe that the price of Ripple will not increase further at this value, many still predict the market valuation of Ripple to be sustained due to the increasing awareness of the blockchain network from Wall Street and investors in the traditional finance sector.
It can also be said that the current market valuation of Ripple is conditional in the abovementioned accomplishment. If banks struggle or fail to implement the Ripple network at a commercial scale and use it to process real transaction volumes, the market valuation of Ripple could sharply drop and said leading banks in Japan and South Korea are completed seamlessly by the end of quarter 1 in 2018, the price of Ripple also could increase. Because of this condition, analysts are cautious in providing predictions for the price of XRP.
by leading banks in Japan and South Korea are completed seamlessly by the end of quarter 1 in 2018, the price of Ripple also could increase. Because of this condition, analysts are cautious in providing predictions for the price of XRP.by leading banks in Japan and South Korea are completed seamlessly by the end of quarter 1 in 2018, the price of Ripple also could increase. Because of this condition, analysts are cautious in providing predictions for the price of XRP.