Ripple Becomes Second Largest Cryptocurrency


The XRP token known as Ripple shot up over 50% to become the world’s second largest cryptocurrency by market capitalization. After shooting up to as high as $2.20, the coin managed to jump over 50% in as little as 24 hours. This type of high price fluctuation is extremely characteristic of cryptocurrency and remains the reason why so many get in the market, and so many are scared of it as well. The XRP token has done extremely well since the beginning of December, shooting up over 700% in value.

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The digital currency managed to shoot up by such a significant amount that it has managed to draw in a large amount of investors looking to invest in currency as well as make substantial gains. In the coins early life, it managed to shoot up as much as 90% in 24 hours, climbing as high as $1.24 before correcting its price. Earlier during the last week of December, the coin managed to approach almost $1.50, being pushed higher by the Asian market for the coin. After several Asian countries decided they were interested in seeing how blockchain technology could be used for payment systems, the coin managed to shoot up even further.

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Analysts have stated that the shifting sentiment of investors towards the currency will continue to benefit the coin. As more and more investors come into the space with knowledge about cryptocurrency, the price of the coin will hopefully continue this rally. Ripple is however quite centralized, which opposes the main idea of cryptocurrency. This is one of the reasons that many investors have decided to stay away from the coin in the past. There is no denying the high gains associated with Ripple, but the hopes are high that the coin can stabilize throughout the end of this year and the beginning of the next.


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