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Ripple Soars, Overtakes Ethereum As 2nd Largest Crytpocurrency

27 September 2018

Ripple supporters see XRP as a bullish story due to the potential for scalability.

Ripple sees the KSA as one of the world's largest sources for remittances over the last ten years. But even then, the success was short-lived. Within a few minutes, ETH shot up from around $230 to $250.

XRP pushes past ETH for now. Though Ether has been recovering gradually in the last few days at solid 2.6% a day, Ripple skyrocketed by 15.3%.

Ripple describes its xRapid product as using XRP as "bridge" between currencies, which executives say allows payment providers and banks to process faster cross-border transactions.

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Trump is moving ahead with sanctions against Iran that are already curbing their exports ahead of formal reimposition in November. Iran, for example, has indicated it is happy with oil at $80 per barrel, so would presumably oppose a production increase.

To speculate on the whether XRP can actually succeed in kicking bitcoin off the throne, first we should consider the reasons behind the explosive increase in the XRP price.

Ripple just shared with the cryptosphere that its flagship cross-border payments solution, RippleNet managed to expand a lot and it's now covering over 40 countries across North America, Asia, Africa, Europe, and South America. PNC is one of the most important and biggest banks in the U.S., and for instance, back in 2017, it had a revenue of $16.32 billion.

Ripple Labs intends xRapid to compete with the Swift Network, which presently is the most common means by which banks transfer large sums of currency across borders. As disclosed in an official report, the bug would have node fails which reject a block containing a transaction that spends the same coin multiple times, thus allowing network double spending, and furthermore an attacker could use the flaw to create new Bitcoins.

It appears that cryptocurrency Ripple (XRP) is likely to launch their xRapid payment settlement solution next month. "The use of XRP is mandatory with this product".

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Kavanaugh denied the allegation, and the White House issued a statement saying it stands firmly behind his nomination. Ford on Sunday committed to testifying in an open hearing on Thursday about her allegation.

All of these factors are probably contributing heavily to XRP's bull run.

"The use of XRP is set to increase and naturally this will positively impact its price". Using xRapid, Ripple claims that it can speed the entire process of converting USA dollars into XRP, and then XRP going to the fiat currency of choice at the other end.

We would like to explore this mathematical experiment briefly. "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". Stellar, meanwhile, is priced near $0.25 and ranks sixth with a market cap of $4.8 billion. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. As a result, it is sure to gain more traction. Fast forward 17 hours and XRP had reached a high of nearly 77c per coin. On September 23, Bitcoin came close to breaking out of the $6,800 resistance level but struggled in the higher end of $6,700. As always, only the coming weeks and months can tell where the journey is headed for the very volatile cryptocurrency market.

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But the American Petroleum Institute points out that during that time , exports fell 1.3 million barrels per day . The Algiers meeting did not bring about an increase in output-and that is fueling the rally.

Ripple Soars, Overtakes Ethereum As 2nd Largest Crytpocurrency