XRP Digital asset showed remarkable growth
The Ripple team announced on March 29 that it is acquiring a 40% stake in Tranglo, a company that develops infrastructure solutions for international payments. The market for Ripple’s native token, XRP, showed an upward trend a few days later: after a level of $0.566 XRP at the beginning of April 4, it was able to rise 55% in two days, to $0.877. At the end of April 4, XRP was the clear leader in daily growth, adding 39.8%.
XRP’s closest competitor (ranked sixth by market capitalization) was only Stacks, a digital asset with a market capitalization of only $2.45 billion and 48th place by that measure.
The total cash value of all XRPs is now more than $40 billion, which is how much investors have invested in the asset, expecting Ripple to climb back on a steady growth trajectory. Much depends on how the U.S. Securities and Exchange Commission’s (SEC) claims against Ripple are resolved.
So far, XRP has failed, unlike bitcoin and Ethereum, to at least return to its all-time high and if possible overcome it. The record price for XRP was observed on January 4, 2018, when a unit of such a digital asset was worth $3.84.
Ripple intends to further develop its infrastructure products, including the likes of xRapid, xCurrent and xVia. The first product is a solution for making fiat payments, xCurrent is a platform that focuses on creating an alternative to SWIFT for banks, and xVia is the counterpart of xCurrent. Ripple, having developed such products, also constructs their functionality into a single Ripple Net system.
