December month has been spellbound for Ripple as the Cryptocurrency investors are rushing to buy it. And it is now trading at 2.39 USD (at the time of writing). Moreover, replaces Ether and ranks up after Bitcoin in terms of Market capitalization.
Ripple is not decentralized like Bitcoin or Ethereum blockchain. Meaning it does not need a consensus of the community to perform upgrades, or any feature implementations though the customers have to support.
Also, the Cryptocurrency does not focus on the privacy like Bitcoin or Ether if not like Monero or Zcash. So, it is easy to comply with the law and to cooperate with different kinds of governments.
Despite the centralized nature of Ripple, some factors are strongly influencing the bullish movement of the Ripple.
The Cryptocurrency has a nickname as the banking coin. Because primarily it focuses on transaction settlements between banks and payment processing.
As of now, over seventy-five financial institutions are deploying Ripple commercially. And the company enjoys 100+ customers like UBS, American Express, and Standard Charted. The interest of American Express in Ripple has helped the Cryptocurrency to get free publicity in the United States of America.
Attention on Altcoins
Bitcoin has been hitting all-time highs and riding the internet news attention. The investors are looking for other alternatives like Bitcoin to gain huge profits. And the marketing efforts made by Ripple have just paid off. Moreover, the Cryptocurrency is available for trading on 50 exchanges worldwide.
The gossip that has been selling around that Coinbase would bring on the support for XRP. Recently, the Coinbase support for the Bitcoin Cash has seen a massive spike in the price. And the influence it has cannot be underestimated.
Ripple is a Cryptocurrency that plays an entirely different ballgame in the crypto-markets. And who might expect one day it would go beyond Bitcoin market capitalization. If all major banks around the world start focusing on XRP, there is no bound for price speculations.