XRP continues to out-deliver expectations, the bullish run has resulted in an 18.1% increase in just 1 week. The growth rate overtook other cryptocurrencies present in the market and XRP is on the verge of surpassing ETH in terms of total market capitalization. XRP also surged by 12% in just 24hrs.
While the entire crypto-market has been moving sideways, giving barely any returns, Ripple’s XRP outpaced them. One of the reasons for this astronomical growth is because of XRP’s integration into the xRapid platform. This result is just the tip of the iceberg as Ripple’s price is predicted to reach $10 in the near future.
XRP has been on a bull rally since the beginning of October. It has withstood severe slumps and a sideways market.
The reasons for XRP’s phenomenal growth was Ripple’s launch of new products and services coupled with Its CEO’s claim of XRP becoming the number 1 cryptocurrency in the market.
Ripple launched their new product xRapid with xCurrent and xVia. The xCurrent will be used to facilitate communication between the banks and xVia will provide an intuitive interface to xRapid and xVia. Meanwhile, ETH has had a rough month as Ethereum’s frontman Vitalik Buterin had addressed its failure to develop a proper functioning technology. This has given XRP an edge over other failing cryptocurrencies on the market.
XRP tokens will be used by banks to transfer cross-border payments without the need of maintaining foreign reserves. This can also change the way the world trades where USD dominates as the global trading currency. It certainly will benefit developing economies such as China, India and other African and South-East Asian markets. a
As discussed before, it has a real-world application and does not require mining which makes it more efficient and eco-friendly than Ethereum(ETH) or Bitcoin(BTC).