After hovering around $2 and even surging past $3, ripple (XRP), the third most popular cryptocurrency after bitcoin (BTC) and ethereum (ETH), fell significantly to trade at 1.80979 on BitStamp. The market capitalization of cryptocurrency also fell dramatically to $71 billion from $78 billion a day before and $79 billion on Saturday. The difference between bitcoin and ripple is wide enough to allow investors to procure as many as 7,510 ripple coins at the price of one bitcoin. The similar figure a week ago was 6,167 when ripple closed at $2.46, while two weeks ago, the corresponding figure was 5,714 when ripple closed at $2.39.
Five Things To Know About Ripple (XRP), Its Price Rise
1. Ripple is the third most popular currency after bitcoin (BTC) and ethereum (ETH). Until December 28, ripple had never hit $2. For the first time, the digital currency touched $2.27 on December 29 before closing at $2.27. Following this, the ripple traded above $2 for most of the trading days.
2. Created in 2012, ripple is a real time gross settlement (RTGS) system, currency exchange and remittance network built upon a distributed open source internet protocol. The ripple protocol's native cryptocurrency is also known as ripple (XRP).
3. Ripple, despite being next to ethereum in terms of total market capitalisation, is available for a fraction of ethereum's price. At the price of an ethereum, one can procure as many as 724 ripple coins on the Luxembourg-based BitStamp.
4. The peak and trough of ripple in the past one day are $1.87 and $1.79, while it trades at $1.81 on the Luxembourg-based BitStamp.
5. The highest value that ripple touched was $3.29 on January 3 on BitStamp.
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