- XRP now valued at $10 billion
- XRP’s performance so far
Ripple, the San- Francisco blockchain start-up declared that it raised a $200 million investment round, surging its worth to $10 billion. According to the company, the fundraising was headed by New York investment company Tetragon, while companies like Route 66 ventures and SBI Holdings invested in the project.
XRP (XRP) Price Today – XRP / USD
| Name | Price | 24H % |
|---|---|---|
 | $0.00 | -0.80% |
Ripple made its entry into the crypto sphere in 2012, it gradually rose to fame in late 2017 as the worth of its native token XRP surged in value with other digital coins. The company uses XRP to simplify cross-border transactions for its network of financial institutions, while it also uses an interbank messaging system that’s used by banks to transfer money globally.
“We are in a strong financial position to execute against our vision,” said Ripple CEO Brad Garlinghouse in a statement. “As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.”
While XRP experienced a massive surge of $3 back in January 2018, currently, the world’s third-largest digital currency has so far declined massively and it is presenting trading at 19 cents. As seen on Friday, the coin was up above 3%. Ripple sources for the larger part of its income from selling its holdings in XRP.
XRP’s Performance So Far
Going by industry outlet “The Block,” Ripple has so far sold $260 million worth of XRP over the past year. The other large part of its revenue comes from deals with banks and financial institutions that employ XRP for money transfers. Ripple states that it currently has over 300 financial services customers worldwide.
Over the year, the firm has signed partnership deals with prominent players in the industry from the likes of American Express to Santander. With prominent companies like J.P Morgan and Facebook planning to enter the crypto sphere, digital currencies hit the limelight this year after a crucial sell-off among such assets in 2018. So far, Facebook has caught the attention of the media, investors, and regulators since its released plans for its aspiring cryptocurrency project Libra.
XRP Price Prediction – Ripple XRP Price Prediction
Sometime in October, Ripple declared it sold $66 million worth of XRP in the Q3 of 2019, down at 74% form exorbitant sales of $251 million in the previous quarter. XRP has been on an abrupt downward trend all year, losing about half of its value over the last 12 months. Ripple owns 60% of XRP tokens but most of these token is locked in long-term storage.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
