Nov 24, · Ripple's XRP surged as much as 70% on Tuesday as the third-biggest cryptocurrency extended a rally that has been kickstarted by mass interest in Bitcoin.. Ripple Author: Shalini Nagarajan. Sep 29, · Bitcoin’s ups and downs have always influenced the altcoin market, including Ripple, the fourth-largest cryptocurrency by market capitalisation. At the moment of writing, XRP is traded at $0, with a market capitalisation of more than $11bn. Bitcoin Cash, Bitcoin and cryptocurrency markets, price data, charts and news.
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XRPs are used on the Ripple network to simplify money transfers between currencies. Traditionally, USD is used as the usual currency for converting between different currencies, which involves exchange fees and requires significant time — up to three days to process the transfer between accounts in different countries. Converting the transfer value into XRP rather than US dollars will help to eliminate exchange fees and reduce payment processing to seconds. Today several major international banks including Santander , the Commonwealth Bank of Australia and 61Japanese banks are implementing and trialling applications utilising the Ripple Network payment system.
Ripple vs Bitcoin investment, what to choose now? Well, Ripple has definitely gained a lot of momentum recently with a growing list of organisations adopting and using it on a permanent basis.
Some analysts share a view that Ripple could soon outperform Bitcoin, Ethereum and the rest of the crypto market. XRP is always included on the lists of cryptocurrencies to watch in late and early The Covid pandemic has revealed the necessity for a fast, secure, digital cross-border payment network, which is capable to work interchangeably with other assets — exactly what Ripple offers. Actually, all the top three — Ripple, Bitcoin and Ethereum — are looking bullish in the long-term perspective.
However, XRP stands out of the crowd. Lately, Ripple has fallen back to almost a flat baseline, while Bitcoin has made a decent recovery. Still wondering, whether to choose Ripple or Bitcoin? Try both. The current market environment suggests that decentralised finance is a much-desired alternative to the traditional financial system and big banks know that.
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Commodities trading guide Forex trading guide Crypto trading guide Indices trading guide Trading strategies guide Trading psychology guide Glossary Courses. Why Capital. Our Global Offices Is Capital. Get the app. Log In Trade Now. My account. Ripple vs Bitcoin: what will a new bull market bring to these two major coins in October ? Alexandra Pankratyeva , 29 September Features. For traders News and features Features Ripple vs Bitcoin: what will a new bull market bring to these two major coins in October ?
Share Article. Try Now Try Now. Bitcoin's rally this year has been partly driven by its touted status as an inflation hedge, which in turn could be spreading to other cryptocurrencies. Investors pouring into Bitcoin, Ethereum, Ripple and other cryptos are looking to capitalize on a central bank rush to digitalize currencies , specifically the European Commission.
ECB president Christine Lagarde has previously said the bank is seriously considering a digital euro. The name "Ripple" plays a dual role as both a payments exchange and a currency. Ripple designed XRP with the chief aim to perform speedy, inexpensive, and more scalable alternative transactions that make it " extremely useful " for payments.
The platform's network upgrade will usher in new decentralized finance products that create high-demand alternatives to traditional finance, which explains the rapid increases in valuation, Anderson said. There is still a lot of capacity among retail and institutional investors, this price action is arguably the first step of a bull market that is ready for new levels of capital not seen in digital assets," Rosenblum said.
Shalini Nagarajan. As institutional investors allocate massive amounts to Bitcoin as a hedge against inflation, other market participants are looking to alternative cryptocurrencies — or altcoins.