Ripple’s XRP Is Slowly Emerging As The Next Big Thing In Cryptocurrency Markets

The XRP token of cryptocurrency giant Ripple dominated the digital currency market in the first half of 2017. Ripple is the third most valuable cryptocurrency according to market capitalization.

Beginning with $0.26 at the onset of 2017, it has finished off with a significant increase of 3977% in second quarter of the year. With XRP barging in 25 new digital currency exchanges, Ripple has recorded an estimate of $11 million transaction value in its second quarter. Riding high on having the third largest market capitalization rate in the list of top ten cryptocurrencies, XRP has only Bitcoin and Ethereum as its competition. Ripple’s XRP market head Miguel Vias told CNBC that they are focusing exclusively on fostering international payments.

Also Read: Ripple’s Blolckchain brings down time of transfer of funs from 2 days to 2 seconds, adopted by banks in Japan and Thailand

The cryptocurrency renaissance is spreading like a wildfire across the globe is edging countries to sit up and take notice of this new form of digital currency. Conducting extensive cryptocurrency experiments, giving them due acknowledgement as a future gamechanger in finance field and adhering to their top spot are keeping crypto companies on their toes off late.

China is running tests for launching a national cryptocurrency which will serve its cashless urban areas whereas Mauritius is all set to become a Bockchain Technology hub thus giving the African coast its personal “Ethereum island”.

Experts believe that this is the right time for investors to park their surplus fund in the cryptocurrency sector. Some are viewing the cryptocurrency bubble as a momentary phenomenon while others believe it to have long lasting impact on the global economy. With China and Japan already putting in a lot of hard work for studying the trends and functionalities of the cryptocurrency market, it can be clearly understood that desire to control funds, achieving utmost cybersecurity and paying attention to every sphere of technological advancement will be the decisive factors for most cryptocurrency investors.

Ripple’s increased focus on boosting up international payments will surely help XRP in maintaining its present market stronghold in cryptocurrency sphere even in days to come.

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