With a monstrous growth of over 36,000% in a year – Ripple (XRP) has broken all barriers. The rise of the currency has been nothing short of spectacular. While 2017 was the year the awareness around Bitcoins and cryptocurrencies at large grew at an all-time high, it was Ripple which truly stole the show. In case you have missed out the goings-on of the past few weeks, here’s a look at what you have missed out on:
Ripple started 2017 at a price of just $0.006 – However, from Jan’17 to November ’17, Ripple was on a slow and stable growth. It reached $0.1 in May and a high of $0.34 was attained in the same month. However, from 15th of May to the 4th of December, Ripple flatlined and did not go beyond $0.34 – earning a lot of criticism.
However in December, many Ripple investors suddenly woke up to a massive growth rally as it took the coin two weeks to reach from $0.2 to $0.7 – the biggest jump so far. Then came $1, $2 and $3 landmarks – all within a span of the next two weeks. This was the time when Ripple’s market cap surged and reached a humongous total of over $100 Billion.
In the process, Ripple became the first altcoin to cross the $100 Billion landmark – something Ethereum had been eyeing at for a while Ethereum overtook Bitcoin Cash and Ripple to climb up two places and is second only to Bitcoin. The gain has been such massive that Ripple’s market cap is currently almost 50% that of Bitcoin.
Thanks to this giant boost in the charts, Ripple co-founder Chris Larsen is now the 5th richest man on planet – climbing many positions up the ladder in a matter of weeks. Evaluated at close to $55 Billion, Chris Larsen is now eyeing at Mark Zuckerberg’s no. 4 spot. It would be interesting to see where the currency heads from here as it now faces some resistance.