In 2017, Ripple (XRP) recorded greater gains than Ethereum and Bitcoin. These gains have laid the foundation for Ripple to become fully established as a virtual currency to be used by major institutions.
Ripple was developed in 2012, with a design intended to carry out interbank settlements and payments. The team has worked hard towards this grand vision, hoping to see the volatility of the market for cryptocurrencies eased through structured sales processes and the use of Ripple.
Currently, the company has more than 100 banks recruited on its RippleNet platform. A consortium of Japanese banks has also taken it up for testing, along with other notable global banks like RBC, Bank of America and UBS.
The team originally developed 99 billion XRP, which raised around $38 billion from global sales. In May 2017, Garlinghouse revealed the conclusion of plans to move 55 billion XRP into an escrow account, then release one billion into the general market. And the recent gains of the cryptocurrency are indicative of growing confidence in its development.
The latest big story is that Coinbase – one of the most widely used exchanges, present in over 32 countries around the world – is now including Ripple as a trading option. This was after lots of discussion on the topic, with a number of hints and leaks coming to the surface before an official announcement was made.
Currently, there is a greater volume of discussion surrounding Ripple than there was for its rival Bitcoin Cash when it was first added to the Coinbase roster. The value of the crypto came in at around $2.50 when the talk of Coinbase first started, making it very affordable for beginners and the average trader. In January, it even hit levels of $3 to $3.50. However, the price of Ripple (XRP) when it does arrive on Coinbase is expected to be around $5, thanks to the inflating sense of confidence around its design and makeup.
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