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Ripple made a massive impact last week in the cryptocurrency market. It looks like the cryptocurrency has come back for a second wave.
After experiencing a massive gain of over 50% last week, Ripple saw itself briefly take the second spot on the cryptocurrency podium. Over the weekend, Ripple knocked Ethereum into the third position in terms of cryptocurrency trading volume and took the second place. Ethereum has taken back the position, and the two have been contending since.
The competition has been in favor of Ripple. Yesterday, the cryptocurrency experienced yet another price surge. The spike saw Ripple’s XRP gain almost 25% in the course of a day.
As Forbes suggested, the second spike might be attributed to cryptocurrency trade exchange Coinbase’s latest announcement. The exchange stated:
“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time.”
Although it has not been confirmed, rumors are milling that Ripple might be listed on the platform.
Founder and CEO of the deVere Group Nigel Green commented on Ripple’s rise upwards:
“ Cryptocurrencies are the future of money and, clearly, XRP is proving to be one of the most useful cryptocurrencies for businesses, organizations, and individuals. The use of XRP is set to increase, and naturally, this will positively impact its price. I think it is likely that we’ll see it hit the $1.00 price level before year-end. It could even be double this in 12 months’ time as XRP adoption and usage soars. XRP has been cleverly positioning itself to become a leading international facilitator of global remittances and inflows. This is a huge and growing market, especially in the emerging economies of Latin America, Asia and Africa.”
Currently, Ripple’s XRP is trading for $0.524747 USD.