The gains recorded by Ripple (XRP) in 2017 was more than what ethereum and bitcoin recorded, with the duo gaining roughly 9,000% and 1,400% year-to-date, respectively.
The gains recorded by Ripple has laid the foundation for the currency to establish itself as a digital currency that is used and revered by institutions. The crypto was developed in 2012 and was designed to carry out interbank payments and settlements. The team has worked on their vision that will see the volatility experienced by cryptocurrencies eased through the process of structured sales and use of its currency.
The company at the moment has over 100 banks signed on its platform RippleNet. The crypto has also been recently accepted for testing by a consortium of Japanese banks. Other well-known global banks such as Bank of America, RBC and UBS are also on their books.
The team first developed 99billion XRP, raising around $38 billion from the sales. In May last year, Garlinghouse revealed that the company had concluded plans to place 55billion of its XRP in an escrow account, releasing 1 billion of them into the market subsequently.
Garlinghouse further announced that the recent gains made by the crypto are a further indication of the confidence in its development.
Ripple (XRP) has recently been the subject of some supposed leaks, with debate currently raging regarding what will be the biggest mover this year.
The news has now surfaced that Coinbase, one of the most popular exchanges, which is present in over 32 countries across the world is making plans to include Ripple trading in its platform this month. The topic has been discussed for a while, with several hints and leaks about the move coming to the surface even though the team hasn’t made an official announcement. The strongest of the hints came from the CEO of Coinbase Brian Armstrong who revealed that some new coins would be added to the already existing cryptos on their platform this year.
Even though he didn’t mention any names, Ripple is the biggest cryptocurrency that isn’t on the list as it became the second largest crypto in terms of market value after overtaking ethereum a few days ago.
At the moment, there is a stronger volume of talk regarding Ripple than there was for rival Bitcoin Cash when it was about to be added to the Coinbase list. The starting price of the crypto which is around $2.50 is more affordable for beginners and average traders. Thus there is an expectation that it would be bigger than what it is now.
However, the price of Ripple (XRP) would be close to $5 when it arrives on Coinbase.