The price of Ripple’s XRP has gained 205% in the past week. The impressive growth was particularly outstanding between 12th September to the 23rd of September. In the period, a stable bullish trend raised XRP rice from $0.25 to $0.77. Although this changes the prospects and review from investors and market analysts, it stills represents a loss of 85% of the value from an all-time high more than $3.75 in January 2018. The gain raises XRP market capitalization to more than $21 million at a token supply of 39,809,069,106 XRP.
Ripple Has User-Friendly Features
Ripple Blockchain consists of a suite of tools for banking and enterprise solutions referred to as RippleNet. The platform is part of the wider Ripple ecosystem and consists of; xCurrent for processing global bank to ban payments for clients as a complement of SWIFT money transfer system; xVia for sending unidirectional payments as a RippleNet plugin; xRapid feature for providing on-demand liquidity in on-platform activities.
xRapid is the latest feature and is yet to go live. It is being unveiled in the course of this year. The feature requires a user to have XRP to use provide liquidity services. On the other hand, xVia and xCurrent are self-sustaining and do not require XRP to host services.
These features continue to attract interest from speculating investors of Ripple, and partners. For instance, PNC, a financial service group, has collaborated with RippleNet to use xCurrent services for cross-border payments.
Reports from RBC shows that the user-friendly RippleNet features are real and effective as the speed of transactions processing is 3-5 seconds. Additionally, the ecosystem enables users to save 46% of transaction costs that are otherwise not proffered in competitor Blockchains.
Ripple Blockchain Is Sustainable
Developers have incorporated monetary facets in Ripple to foster long-term growth of the network. One of these sections is XPRING. It is a venture capital section that incubates, acquires, provides and invests in projects and companies that are run by promising entrepreneurs. In monetary values, $50 million has been set aside by Ripple management team to fund this ambitious agenda that is not only aiming to benefit Ripple but the entire Blockchain industry.
Ripple’s Bullish Trends Are Influencing Bitcoin And Ethereum Investors To Rethink
According to coin market data, Bitcoin’s market dominance has risen sharply from 32.45% in January 2018 to about 53% as at September 2018. However, in the past week of XRP bullish results, investors are beginning to consider Ripple as a digital asset to invest as the return of investment is presumably higher.
Reports also point out that XRP is popular and has a loyal market in the Far East especially Japan. This was evident when the Japanese SBI Holdings merged with Ripple to form the SBI Ripple Platform to transfer fiat money and Cryptos.
The two indicators give investors a source of trust and confidence to prefer Ripple over Bitcoin or Ethereum that are ahead in market capitalization. The yearly Ripple Conference-Swell- to be conveyed in San Francisco CA between 1st and 2nd October, is likely to energize investors and attract new ones also. Bill Clinton will give a keynote address to delegates.