Ripple (XRP) has been on quite a growth rally since the last couple of months. The currency has been performing really well and the price keeps on increasing. Over the past one month, Ripple has now crossed three major landmarks – $1, $2 and $3 – and as of this writing, is at $3.5. XRP has recorded the highest growth in 2017, of over 36,000%.
It doesn’t look like this monstrous growth rally will be stalled any time soon. Ripple’s growth has proven one thing – if the technology that powers a currency is good, the currency is bound to succeed in the markets. A number of high profile investors and banking systems have shown faith in Ripple’s technology for transferring payments. This has been one of the primary reasons behind the rise of the currency.
Having now crossed $3.5, XRP is still growing. The currency made it to the news when it crossed the market caps of Bitcoin Cash and Ethereum to occupy the no. 2 position. It became the second largest currency by market cap, standing next to Bitcoins. The currency also became the first altcoin to cross the $100 Billion market cap.
For a brief period, it looked like Ethereum was going to regain it’s top spot as Ripple had fallen by about $13 Billion. However, over the past few hours it has gained a major momentum and now has a market cap of $138 Billion. To put things into perspective, Bitcoin’s market cap as of now is $254 Billion. Basically, XRP is now almost 50% of the total BTC in circulation.
Bitcoin’s market cap has been falling. The ‘BTC dominance’ days are looking numbered as more and more money gets pumped into altcoins. Bitcoin recently hit it’s lowest ever market share at 36% – a number that has since fallen to 33% as of this writing. The scenario is changing, and Ripple is leading the revolution.