Ripple cryptocurrency hits a record high & now a market capitalization of over $110 billion

Published: Wilson Clark

On: Jan 2018

The world’s second biggest and well-known cryptocurrency, Ripple by value registered a highest record on Wednesday, because its strong rally continues. According to a leading portal the digital coin recorded more than 18 % to all-time great value above $2.90.

Ripple which also known as XRP, has recently garnered a market capitalization of nearly $112 billion and meanwhile remains strongly in the second spot to bitcoin. The popular cryptocurrency, bitcoin has a market value of around $255 billion. One of the infamous marketing website showed that ripple has collected more than 45,700 % over last twelve months.

It seems that the digital coin has gained more than 120 % over the last week.

Ripple cryptocurrency earns higher record with the market capitalization more than $110 billion

Unlike digital currency bitcoin, ripple is a firm which has generated coin called as XRP which is aimed at enterprises.

The markets of Ripple are called as a cross border payment solution for the biggest financial dependent on the blockchain technology.

Ripple is trying to make safer and quick transactions via its technology. XRP can be used by the various enterprises in order to get instant liquidity required in a large-value transaction without need to pay fees.

During a transaction XRP acts as a bridge between fiat currencies. Ripple told that transactions in XRP can be situated in 4 seconds, faster than any cryptocurrency right now. Blockchain is known as the technology which underpins cryptocurrencies including Ripple.

Ripple has been organizing trials with a large number of financial institutions, with the inclusion of American express and Santander.

In the December 2017, its price was too helped by the news that SBI holdings of Japan and SBI Ripple Asia which was created as a partnership between the two companies in the year 2016.