Ripple (XRP) was the most profitable digital currency last year by a long shot. No other cryptocurrency came close to it. It got to the $3 mark last January just after two weeks of passing the $1 level. This did not happen in isolation, the entire digital currency market experienced an increase in January.
It was also in that period when bitcoin exploded, which also didn’t happen in a vacuum. The entire crypto market erupted at that time which led to some adjustments. Ripple also felt the adjustment and its value declined.
At the time of writing, the value of the digital currency is 60 cents, which is not even close to the level it reached earlier this year. While this could look a severe situation, Ripple does not consider it as a setback, as it has remained one of the best digital currencies in the world.
How Is This Digital Currency Managing To Stay Ahead?
There are lots of reasons. The coin is reliable, liquid, and it has a huge market demand. All these help to stabilize the coin. Also, it has more listings than other top digital currencies, including Ethereum and Bitcoin.
Partnerships It Has Been Able to Secure
Ripple created its digital currency and technology to be a means to perform international transactions. Ripple doesn’t only want firms like Alibaba and Amazon to start accepting XRP. It is aimed at creating a digital currency that remittance services, banks, and other financial institutes can use to carry out transactions across borders.
The results of Ripple’s technology are so remarkable that they have persuaded over 70 of the biggest banks in the world to join the RippleNet and use it to perform international transactions. Some of the currency biggest partners of Ripple include Banco Santander, Oman’s BankDhofar, Western Union, Japan’s SBI holding, and so many other giants across the globe