Hello !!
It seems that ripple is now gaining more news than ever. If you are into cryptocurrency, then you can see the difference it has made.
Most of the news on the Internet was against ripple coin like its a centralized coin and banks can manipulate it. But, Now it is gaining value, because of the news that they will put some coin in escrow, So that no one can manipulate the price and to make it a fair game for the traders. Since then ripple has jumped over 70%. There are some more reasons that Ripple is gaining value. Recently, It has surpassed the market cap of Litecoin and has become 3rd largest in market capitalization.
Ripple has real use value.
If you have no idea about this coin then I can try to explain it briefly, Ripple has developed the payment network for banks. It is more like "Banks Thing" and that is why so many people are skeptical about it.
It will be used in payments transfer between banks, So far it takes 5-6 days for cross-border payments and there are so many intermediaries which take some commissions and it is very time-consuming.
So, now ripple comes into the picture. Using blockchain technology they have developed a payment network which will take only a few seconds to transfer the payments. Banks are not going anywhere and so the coin.
But, people will say they can use bitcoin, right?
No... Bitcoin network is so congested that it will take too much time, moreover, it takes a huge fee to transfer bitcoins. If Bitcoin would have solved this problem then they would have used it in the first place. So far so good...
What's More?
Ripple already sits among the top five cryptocurrency and more than 100 financial institutes are using their technology. I think Ripple is here to stay.
