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The Price of Ripple (XRP)
Many people are looking at the Ripple price now, and are wondering what on earth will happen next. Released in 2012, Ripple’s cryptocurrency XRP has been experiencing highs and lows since the beginning – with more highs in 2018 much to the delight of investors.
The Ripple price in USD has risen 28,000 percent so far – almost unheard of in any investment, let alone cryptocurrency.
Supporting fiat currency, cryptocurrency, and commodities, Ripple rose 144 percent in a week alone, with the Ripple price chart showing it reached its peak on January 3, 2018, at $3.15. This far surpasses the Ripple to USD price just two months before, which Ripple price graphs showed to be just 0.26 cents. In December, it still only dipped just below $2.
The Price History of Ripple (XRP)
First making history in December, the XRP to USD rate finally surpassed $1 for the first time, which quintupled the market cap by more than 50 billion. That following Friday, the Ripple to USD value rose by 33 percent to $1.90 and then plateaued at $1.85.
Ripple, since its inception, has always had a low Ripple to USD value on most Ripple price exchanges. In fact, if you looked back at Ripple price history, it has taken almost six years to reach its high, something that experts believe is due to its expansions into new markets. It was voted one of the ten best-performing coins in a 12-month period and added two banks and three currency processors to its customers to provide low-cost transactions in 2018.
In January and February of 2018, when most cryptocurrencies were experiencing a substantial loss in value, the Ripple price live seemed to remain unchanged. In fact, its collective market cap which in February sat at $71.4 billion, had for the most part, remain unchanged.
Ripple Charts: XRP to USD
While no one knows for sure why this is – and the Ripple price chart of all time doesn’t reflect it either – some people believe its partnership with American Express, hires from Facebook, and numerous hedge funds in February may have something to do with it. The ever-growing Ripple to USD rate may also be put down to how encouraging Japan is to Ripple and XRP, a country that has actively embraced all kinds of cryptocurrency.
If you’re looking to invest in cryptocurrency, Ripple’s XRP might just be the best direction in which to head. By February 2018 it had increased by more than 100 times its initial opening rate and has real-world applications to be of some use to you. In fact, such is its prospects that banks use Ripple’s protocol for moving money quickly. Therefore, there’s no denying that XRP is valuable.
The Future Price of Ripple (XRP)
While the value of XRP was back to around the $1 mark at the beginning of March, there is no knowing where it can head to next. However, the unique escrow system in use might give us an indication of what Ripple price graphs are showing. There is a total supply of 100 billion coins, but 55 billion of these are held in escrow by Ripple. Every month, a smart contract releases an additional one billion XRP, which is set in place over the next 55 months. Any unused XRP is then returned to the queue to be released in the following months.