Why Ripple is Rising (Will Ripple Rise?)
Why is Ripple rising? What is Ripple? Can it make the price of Bitcoin higher t
Why is Ripple rising? What is Ripple? Can it make the price of Bitcoin higher than ever before?
First of all, we know that Ripple is a blockchain-based digital currency (RippleNet). Its founder and CEO Brad Garlinghouse once stated in 2014 that he wanted to make payments at lower costs. However, he did not believe that this payment method would succeed. But this is not good news because his company has been researching a way to distribute funds to other tokens in the XRP network. “I think this project has two main goals: first, to reduce transaction fees and increase user adoption; second, to ensure that XRP becomes a means of storing value.” He also mentioned, “In the long run, there will be an increasing demand for cryptocurrencies. So if there is no support from Ripple, it would not be possible to use Bitcoin, Litecoin, or XRP as collateral.” Additionally, he said, “If someone wants to lend your money to others, you will go to a bank for a loan and withdraw their assets in fiat, not get all the funds they want.”
Will Ripple Rise?
According to cointelegraph, the price of Ripple has recently doubled, rising from around $10 on Wednesday to over $15 today. According to Coinmarketcap, Ripple’s market value reached about $200 million in the past 24 hours.
According to Bloomberg, Ripple’s founder currently holds over $1 million worth of XRP. If investors invest their funds in this token, they may gain investment returns of at least $100 million to $150 million. But if this situation happens in other cryptocurrencies, this fund is likely to be used as a hedge against inflation.
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