There is no denying that no day goes by without seeing a Ripple (XRP) news article or a price prediction for the coin that has lots of HODLers excited with the prospect of making huge returns by the end of the year. A year ago on this same date, Ripple was worth a meagre $0.031 in the markets. Considering that XRP is currently trading at $0.842, this is an amazing ride for the once little coin in the markets. The percentage gain in the past 12 months is an amazing 2,632%.
This type of gains are only unique in the Crypto-verse and many HODLers expect a similar performance by Ripple in the markets this year and heading into 2019.
One thing to note is that the market share of the coin has increased from levels of 5.3% of the Crypto market in December last year, 2017. Current market analysis now puts Ripple at occupying an 8% market share with XRP’s current market cap of $32.99 Billion in comparison with the total market cap of the crypto markets that stands at $414.22 Billion at the moment of writing this.
This gain in terms of slight dominance can be attributed to XRP showing more promise in the markets. The market action of the coin has seen it double in a month from levels of $0.44 to a recent high of $0.95. XRP is currently trading at $0.84 after a slight correction in the markets during the week. What is highly awaited, is the breaking of the current resistance levels XRP is experiencing at around $0.87. This will then lead XRP to the current promised land of $1 per XRP.
To add to the above market momentum, is the constant news of Ripple technology being used to solve real life problems. Ripple’s xVia promises to solve the payment system issues experienced by financial institutions and businesses when attempting to settle transactions fast in an equally fast paced 21st century.
“By providing a standard API solution, xVia lets companies that want to send payments — payment providers, digital wallets and other corporates — quickly scale their businesses, differentiate their services and address their customers’ unique needs. The individuals and businesses that rely on them can send payments faster and cheaper anywhere in the world.”
In a nutshell, the crypto-verse is constantly watching Ripple developments on and off the markets. Some believe the coin is on its way to dethroning Bitcoin (BTC) from the top slot in terms of market capitalization and dominance.