Why is ripple price skyrocketing this year?


Since its launch in 2013, the rise of ripple price has been muted compared with other cryptocurrencies. But this year, ripple price trend can be described as "skyrocketing". I think the people who invested ripple this year must be laughing. Someone even say that ripple is a "low-profile revenue harvester" this year. So, why is xrp price soaring so much this year? I summarized the following four reasons:

1.Ripple's mature technology. Ripple has passed the test of many Banks in the world through xCurrent and its own settlement technology, and many Banks have entered the practical stage.

2.The $55 billion XRP has finally been officially put into a third-party encrypted escrow account, which is divided into 55 contracts. It's going to pay $1 billion each month. Instead of selling directly into the market, the $1 billion will be bought at wholesale prices for cooperative Banks or corporate institutions.

3.Ripple is becoming more decentralized. Ripple's technology is open-source and created by the blockchain protocols. The validators make sure that the system operates flawlessly and at its full capacity.

4.More and more investment fund companies, and trading companies of the multinational assets used XRP to save cost, there are many hedge funds to enter the market. Close to zero transaction costs between gateways make XRP a necessary cryptocurrency for many fund managers.

Ripple is currently trading at $0.87. If the bulls break through the $0.90 resistance, the Ripple price may hit a high of $1.10 and $1.22.

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