Ripple is now the third biggest cryptocurrency, thanks to its surging prices. At 17:51 UTC, Ripple was trading at $0.78, up 4% in the last 24 hours. Yesterday its price shot up to as much as $0.89 before paring back its gains. Ripple’s market capitalization is $4.7 billion, as of this writing.
Bitcoin Cash is currently trading at $1,759 per pop, a decline of 5% in the last 24 hours. Its price hit a high of $2,080.41 at 06:59 UTC yesterday. It has a market capitalization of $1.4 billion in the markets.
In the quickly changing world of cryptocurrencies, Ripple has already made a name for itself. What is interesting about Ripple, though, and what leads some financial institutions and analysts to predict a strong future for this network, is the fact that Ripple is designed to increase global liquidity of money by allowing transfers around the world to take place at record speeds and for very little in terms of fees. Perhaps the innovative technology behind these achievements is what has prompted Ripple to gain 4300% in value in year to date as of December 12, 2017. So how does one go about buying Ripple, then? Like other cryptocurrencies, Ripple is available on several different exchanges. According to the Ripple website, here is how to go about purchasing XRP, Ripple's cryptocurrency token, through some of those exchanges.
The Role of Asian Investors
It has been a spectacular year for Ripple. The cryptocurrency, which is also a payment network for multinational banks, had a market capitalization of $237 billion at the start of this year. Its most recent price increase has come on the back of news that it is being used in trial tests for international transfers between financial services consortiums in Japan and South Korea.
Ripple joins a slew of other cryptocurrencies, such as litecoin and ethereum, which have racked up solid gains in the last couple of days and pushed the overall market capitalization for cryptocurrencies beyond $500 billion. This is the second major jump in its price.
Ripple joins a slew of other cryptocurrencies, such as litecoin and ethereum, which have racked up solid gains in the last couple of days and pushed the overall market capitalization for cryptocurrencies beyond $500 billion. This is the second major jump in its price.
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