All the cryptocurrencies especially the top 500 coins are going through a massive shed of value these days. This price correction was expected due to the volatile increase in their prices. While investors in these cryptocurrencies have lost their sleep. Ripple quietly continues to move forward and now is being traded at $1.51.
Just 2 months ago, Ripple was being traded at $0.246433. This is a massive gain for investors. On the other hand, Bitcoin after touching $19,000 is back to being traded at $15,000 at the moment.
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Ripple is one of the top altcoins out there in terms of market capitalization. It is not a competitor to Bitcoin but rather considers itself a compliment. Ripple allows fast borderless transactions. It is peer to peer. Unlike other cryptocurrencies, Ripple can’t be mined. There are 100 billion Ripples out there and as a result of each transaction a small number of Ripples are destroyed which adds a deflationary measure to the system.
Unlike other cryptocurrencies, Ripple has shown stability and its price hasn’t fluctuated much over the year. A lot of banks are acquiring Ripple protocol and it seems like more banks will be acquiring Ripple protocol in the year 2018.