Can you imagine 36000% growth in your salary or business profit? It is beyond the possible limit until the name is Ripple cryptocurrency. With 36000% growth in 2017, this digital currency has become the second most valuable cryptocurrency in the world. Hence, Ripple overtakes Ethereum in terms of market capitalization. A group of South Korean and Japanese banks announced to use the Ripple’s Xcurrent Technology to modernize cross-border payments with Shinhan Bank and Woori Bank – two of South Korea’s largest banks. This news had initiated its immense growth in the last half of the past year.
This digital currency started its journey slightly over $2 when Bitcoin was at $15,000, and Ethereum was at $890. Ripple rose about 36,000 percent in 2017 and becomes the second most valuable name in the crypto world. In the current scenario, Ripple’s market capitalization is over USD 102 billion, while Ethereum is following with a market capitalization of $86 billion. In the way to create several crypto-currency millionaires, the value of cryptocurrencies swelled to more than $600 billion in 2017. In India, Ripple has reached a high of INR 201 in the past couple of days. Also works as a digital payment system, it is available for trading in India through Koinex.
Under Chris Larsen and Jed McCaleb, a San Francisco-based Company Ripple had launched this currency in 2012. Brad Garlinghouse is its current CEO. In an interview with the Financial Times, Garlinghouse said, “2017 has been the year of the digital asset, and XRP has clearly outperformed every other digital asset. The reason for that the market has realized that XRP is a highly efficient payments mechanism that is solving real-world problems for real-world customers with real money.” However, Ripple can only be bought at an exchange, and the transactions can be made within seconds.