Ripple, XRP, hit $1,30 on Thursday, December 28th, when it was around $0.25 per coin in December, earlier this month. The new all time high only signals the happy Ripple investors, who, unlike Bitcoin investors, seem to be on a roll this month.
According to Business Insider, Ripple has increased its value with 71% this week only. The major reason for that is the new consortium announced by Japanese credit card companies and Ripple’s Asian subsidiary.
As with most digital currencies, the major interest comes from China and overall, from Asia. For example, even though China ban Bitcoin on its domestic exchanges this summer, most of the Bitcoin mining occurs in China. And now, with Ripple’s increasing price and strong Asian support, the continent has definitely claimed its place on the digital currencies map.
“Asians are going mad for Ripple,” Alexey Ivanov, CEO and cofounder of Polynom Crypto Capital, a Moscow-based cryptocurrency and blockchain investment fund manager, told Forbes.”
Amazingly, Ripple is now bigger than Bitcoin Cash, which is also surging to unseen levels this month. The current market capitalization of Ripple is $56 billion, while Bitcoin Cash is $43 billion, according to CoinMarketCap.
Source: CoinMarketCap