Ripple (XRP) has powered back to retake its position as the world’s second largest cryptocurrency by total market capitalisation — a spot it briefly took from ethereum at the end of last week.
Ripple (XRP) has risen more than 100% so far this month as investors bet it will become the defacto way the world’s established banks and financial services firms move money across borders.
Today’s latest surge was sparked by Nigel Green, founder and CEO of deVere Group, predicting ripple (the informal name of the XRP digital token) will rise to $1 per token by the end of 2018.
Cryptocurrencies are the future of money and, clearly, XRP is proving to be one of the most useful cryptocurrencies for businesses, organizations, and individuals. The use of XRP is set to increase, and naturally, this will positively impact its price. I think it is likely that we’ll see it hit the $1.00 price level before year-end. It could even be double this in 12 months’ time as XRP adoption and usage soars.
The ripple price surged to more than $3 last year, up from just $0.006 at the beginning of 2017.
Ripple, which was created back in 2012 by Ripple Labs (making it one of the oldest cryptocurrencies), sets itself apart from many other major digital tokens by working directly with the established financial services sector.