Ripple Is Now Aiming At $4 After Reaching Half Bitcoin’s Market Cap

The second largest cryptocurrency in the world after Bitcoin, Ripple, has continued its growth and recently crossed the $3 per coin mark. Currently, it sits on an average of $3.54 and is aiming at crossing the $4 mark real soon.

The price has increased almost 49,000% over the past year, which marks a great year for Ripple and even better beginning of 2018.
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The cryptocurrency passed the $2 mark last week and has seen a 130% increase since December 27th.

Another thing that is interesting is that as investors are putting their money in Ripple, its market cap is rising. Currently, Ripple’s market cap is somewhere around $131 billion which is more than a half of Bitcoin’s market cap that is $251 billion at press time.

If you are wondering what is Ripple though, the best way to describe it is as a blockchain-based payment system that is designed for enterprise level payment transaction. The cryptocurrency mania has blossomed on the South Korean market too, which is where almost a half of Ripple’s trading volumes occurred. This also contributed to the rise of the altcoin.

Launched in 2012, this altcoin had a market cap of $91 billion on Tuesday – something that changed in a matter of days. The change has been mostly due to the adoption of Ripple by companies such as UBS, Santander and American Express that are all involved in developing instant blockchain-based payment systems.

No one knows what the future will bring for Ripple. However, it is safe to say that Ripple is aiming at the $200 billion number in terms of its market cap  – while many other prospective altcoins such as Cardano (ADA), Stellar (XLM) as well as Status (SNT) are continuing to rise and prove that Bitcoin is not the only cryptocurrency that has been stealing the show this year