In a supernormal rally that almost lost ethereum its silver spot, ripple (XRP) gained about 100 percent in a week.
The maximum difference in XRP’s market cap between the week’s lowest and highest level turned out to be almost $19.8 billion. That’s nearly a 184 percent jump. True, the valuation dropped after establishing the weekly peak, but the extent of the drop was low. During the uptrend, the market cap of ripple once even went above the market cap of ethereum. For a short period, XRP was the new silver to bitcoin’s gold. However, an imminent sell-off near peak reversed the XRP trend and brought it back to the third position.
Ripple Labs’ long-anticipated cryptocurrency service, dubbed xRapid, is heading for a commercial launch as soon as next month. The commercial payment service allows financial institutions to use XRP tokens for conducting cross-border transactions. So far, xRapid has not bagged many major partnerships from mainstream financial institutions, in contrast to RippleNet, Ripple Labs’ XRP-negated blockchain project for enterprises, that has a top-ten US bank lined up for integration.
The identity of the pseudonymous Satoshi Nakamoto is still a mystery. The most compelling arguments I’ve read suggest it’s probably more than one person. Regardless of whether it’s a she, he, or them, I truly believe that what they’ve created in both bitcoin and blockchain, will be recorded as one of the most disruptive and impactful ideas in history. The coolest part? We’ve only begun to see the tip of the iceberg. 😎💡🔐