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Ripple Hits New High $2.3 Today

Today Ripple’s XRP token was able to attain its highest value of $2.3 due to speculative buyers and investors move to cheaper altcoins. This new peak is equivalent to a gain of 46% in value in just 24 hours this trend has been experienced in other cryptocurrencies.


Ripple Practicality

Influential market analysts and cryptocurrency traders such as Mati Greenspan and Marius Rupsys give positive statements on the applicability of Ripple in the financial system. Currently, inter-bank money transfers take 2-5 business days, while using Ripple can be completed in some few seconds at a fraction of the cost.

In the long run, ripple intends to integrate itself into the mainstream banking network helping to make a fast, efficient and secure network.


Old vs new Investor Preferences

Ripple has drawn criticism from early cryptocurrencies adopters who view the digital currencies as a decentralized Early cryptocurrencies adopter were concerned on the decentralization and other different libertarian ideas in creating the altcoin. But, with the new investor preferences and incentives this has led to creation centralized and pre-mined technologies.

With the current levels of returns experienced by Cryptocurrencies early and new adopters all together buy when the financial Return is sensible.


A Cautionary Note

Be aware that: The spike in Ripple’s XRP is a dependent on how low they can maintain their transaction fees. With mainstream banks preferring stable and low fees without that, then Ripple is Useless to them.

Note that: investing in any form of cryptocurrencies or ICOs is unregulated, therefore do not trade what you can’t afford to lose.

About the author

Jason Manolopoulos co-founded Dromeus Capital Group in April 2008 and is the co-CIO of the firm. Jason leads the firm's investment activities is a member of the Firm's Executive and...

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