Ripple briefly exceeded ETH's market cap in December last year and early in January this year, when investor insanity and the "Kimchi Premium" sent its price as high as $3.84 and made XRP the first digital currency after BTC to accomplish a $100 billion market cap. There are a good number of reasons why XRP is struggling with its value. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Bitcoin and ethereum were up 4 percent and 8 percent respectively. Ripple Labs aims to enable people and organizations to "move money like information does today". All of the lawsuits that were filed against Ripple Lab claim that XRP is a security. Ripple's asset is up nearly 45% in the past 24 hours, according to CoinMarketCap. Though Ether has been recovering gradually in the last few days at solid 2.6% a day, Ripple skyrocketed by 15.3%.
If Ripple does succeed in replacing SWIFT, many banks may transit in XRP which means that banks will have to buy XRP leading to a rise in XRP demand. Users with the help of this platform can donate to Wikipedia and the Internet Archive, so content creators through of use Coil can be able to receive tips and pay users in XRP, Ripple is changing the world very fast.
Ripple has developed xRapid as a protocol for cross border fiat transfers. We know that it has links with 120 banks, but these companies have been using the similar but separate xCurrent platform. How exactly does it work? Because XRP has kept its basics strong and that's why more than hundred banks are using Ripple (XRP). Among which is Santander and American Express. Western Union and Moneygram are also known to be exploring its use.
In order to give to its subscribers/followers an opportunity to use blockchain-supported cross-border and oversea payment systems, LG Uplus [mobile branch of LG] joined with global partners the like of Ripple's payment solutions (XLM), Stellar (XLM) and Swift.
CoinMarketCap sees things a little differently, placing XRP third on its list with a $18bn valuation (it doesn't appear to take into account Ripple's holdings). "This is another case of Ripple showing its dominance in real world relationships with financial companies, and yet another spike in XRP's price because of it". But those partnerships have so far been mostly focused on another product called xCurrent. As such, it is expected the XRP price will continue to trickle down to the $0.1 level or potentially lower before the year 2018 comes to a close.
A UTC close above the confluence of the 50-day moving average and the top end of the falling channel, now located at $0.3282, would confirm a bearish-to-bullish trend change and could yield further gains.