Value Of Ripple Rises!
August 3, 2017
Digital currency startup Ripple has finished the second quarter of 2017 with its value rising 3,977% since the year’s beginning.
WHAT IS RIPPLE?
Unlike Bitcoins, Ripple is not a currency. It’s an open-source, global exchange. Ripple, the company, does not control the network, collect fees, or limit access. Ripple is a distributed, real-time payment protocol for anything of value. It’s a shared public database, with a built-in distributed currency exchange, that operates as the world’s first universal translator for money. The Ripple protocol is designed to route every transaction to the cheapest price available in the market.
WHAT IS XRP?
There is a transaction fee to use the exchange and it must be paid in XRP, the native token of the network. XRP is a digital asset with verifiable mathematical properties.
RIPPLE’S MARKET VALUE SOARS
Digital currency start-up Ripple has finished the second quarter with its XRP token’s value almost 4,000 percent higher year-to-date. The San Francisco firm fixed a record $30 million worth of transactions in the second quarter of 2017. The figure had reportedly tripled from the first quarter when it recorded $6.7 million in sales. XRP finished the second quarter priced at $0.263, an impressive quarter-to-quarter spike of 1,159 percent and a year-to-date growth of 3,977 percent. The cryptocurrency is listed on 30 exchanges and is currently in third place by market capitalization after bitcoin and ether.