Ripple has been among the top ten cryptocurrencies for quite some time now. 2017 has been a good year for the currency and for those who invested in it. The latest update from the markets is that XRP is now the third largest cryptocurrency being traded, ranking just behind Bitcoin and Ethereum. The currency has overtaken Bitcoin Cash, which was holding the third position for some time now.
Over the past few days there have been many ‘market corrections’ which have led to a fall in the price of most coins, including Bitcoin. However, Ripple has managed to remain strong and show a positive growth in these times. While Bitcoin, Bitcoin Cash and Litecoin all fell by over 10%, XRP remained strong and grew by over 7%.
As a matter of fact, Ripple is the only cryptocurrency in the list of top 20 currencies to record a profit over the past 24 hours.
Reason Behind Ripple’s Growth:
This positive growth is being credited to the fact that SBI Holdings, one of the most popular names in Japan when it comes to financial services in Japan, has now struck a partnership with multiple credit card companies which will eventually lead towards testing and adaption of blockchain solutions provided by Ripple’s technology.
With over a 100 financial institutions already using Ripple powered solutions for peer to peer transactions, the addition of SBI Holdings new partnership would be a valuable asset. This is the reason XRP has managed to remain stable even during a time when most coins are going through a downward trend.
With more such partnerships likely to come up in 2018, Ripple looks forward towards a strong start to the year. 2018 is merely days away and it looks like it is a good time to be holding some XRP. What are your views on this? comment below and let us know!