Ripple skyrockets to become the second largest cryptocurrency

After going on a roll with new all-time highs almost each and every day of the past week, Ripple (XRP) has now surged with more than 50% for one day, and has now a market capitalization of $83 billion, surpassing both Ethereum and Bitcoin Cash in total market value.

According to CoinMarketCap, Ripple reached levels of $2.20, which is more than 50% increase in the last 24 hours.

Ripple is by far the most appreciating-in-value digital currency these days, whereas Bitcoin and most of the top cryptos by market value have been plunging for almost two weeks now.

Ripple started December with a value of $0.25, which means that the total percentage increase up until now is more than 700% in less than 30 days.

Right now, it seems the most alluring feature of Ripple is the fact that, as opposed to other “popular” cryptocurrencies, Ripple is actually centralized. Whereas banks and governments are struggling to identify the potential threats and opportunities of decentralized cryptos, the centralized nature of Ripple may be one of the major drivers of its popularity among investors this month.

In addition, the strong Asian “appetite” and the recent cryptographic lockup of tokens that was completed by Ripple have definitely contributed to the sharp increase in price. According to CoinMarketCap, Ripple has now surpassed Ethereum by around $11 billion in market value. This increase has been accomplished for less than a month.



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