Ripple hit record in market cap $120 billion at price $3.11

Ripple hit a record high in market capitalization of more than US$120 billion (BTC8 million) at a price of US$3.11. XRP reinforces second place in the world based on cryptocurrency market share which set a new record on Wednesday Jan 03, 2018 6:25 PM UTC after a rally strengthening continues.

Ripple (XRP) has a market capitalization of US$120 billion and is getting stronger in second place under bitcoin which has a market cap of US$253 and a price of US$15,079. CoinMarketCap.com shows XRP has increased by over 45,700 percent over the past 12 months.

Tinuku Ripple hit record in market cap $120 billion at price $3.11

Bitcoin is a decentralized cryptocurrency, while Ripple is a company that has created a coin known as a centralized XRP and is intended for companies. Ripple markets the currency as a cross-border payment solution for major financial institutions using blockchain technology.

It still takes a few days for international payments and high volumes which make it difficult for banks to move large volumes of money. XRP can be used by companies to get the instant liquid required in high value transactions without having to pay a fee.

XRP acts as a bridge between fiat currencies during the transaction and has conducted trials on a number of financial institutions, including American Express and Santander. SBI Holdings in Japan and SBI Ripple Asia formed a partnership in 2016 in a consortium with Japanese credit card companies to utilize blockchain.

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