A single Ripple token, referred to as XRP, is worth a modest $1.13 today but could be had for just $0.006 in January, according to the latest figures from CoinMarketCap.
The massive rise equates to an eye-watering 1,783 per cent appreciation in value since the start of the year.
Nearly $43billion is invested in to Ripple across the world, and the digital currency has a number of high-profile users - including several multinational banking firms.
In the past 24 hours, investors have bought up $3.9billion worth of XRP tokens, with South Korea’s Bithumb exchange processing a quarter of all transactions.
Ripple began its stellar rise last week after an increase in prices among rivals, and rocketed from $0.27 on December 12 to $0.80 in just three days.
And rumours that Coinbase, one of the world’s largest cryptocurrency exchange, would begin trading XRP served as a major catalyst.
By comparison, bitcoin has seen a 1,514 per cent appreciation in value during 2017, trading at $963 in January and currently worth $15,550.
However, bitcoin has received a great deal of negative press in recent days, and seen its value plummet from more than $19,500 on December 17 as a result.
Ripple on its part has sprung from $0.5 to $1.02 recordning more than a 100% increase in its value. Lets watch out for the Ripple Coin. It is a good time to invest.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.express.co.uk/finance/city/895356/ripple-price-rise-through-dollar-milestone-december-2017-increase-beat-bitcoin
What about the technology? Is it actually useful?
Riples can handle thousands of transactions per second and can also handle huge fluctuations in the network traffic and it doesn't have that same fee structure (its is cheaper) that bitcoin has inorder to move all that data. It is also backed by banks and financial institutions, this means well placed to deal with possible market crash.
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