Cryptocurrency passes major dollar milestone

One of its biggest markets is Asia, and commentators say Asian traders are "going mad" for the digital currency. This will mainly take place through institutions, and not via retail transactions like PayPal. . It is the fourth-largest cryptocurrency in the world by market capital, which now stands at around 43 billion. The team behind it seek to convert funds in any currency or cryptocurrency to another form of currency in mere seconds.

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"A lot of people are beginning to realize how big of an opportunity there is between business and the d that's making Ripple the early winner here.". At the time of writing, its value had dipped back below a dollar.98. It marked a major rise in price for the digital currency, which was priced at as little.24 at the beginning of December. The company, founded in 2012 with offices in London, San Francisco, Sydney, India, Singapore and Luxembourg, is now traded on over 50 cryptocurrency exchanges, and looks at least set to grow in this regard. Several financial institutions have expressed interest in trialling Ripple's technology.

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The soaring value of other cryptocurrencies, such as bitcoin, ethereum, litecoin and bitcoin cash, has served to drive up the price of Ripple tokens, combined with speculation that the top cryptocurrency exchange Coinbase would initiate trading of the tokens. Its team of fintech, finance and technology experts appear to be focused on forging partnerships with big financial players, such as a recent deal with American Express, as a way to ensure the platform's growth.

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But crossing the dollar line was significant. As with any cryptocurrency, investing does not guarantee returns and top financial figures have warned that it represents a form of gambling, as their values cannot be predicted. As investors worry about a cryptocurrency correction with bitcoin falling a third in value after reaching record highs, digital currency advocates are touting another "coin Ripple, or XRP. See all of the best photos of the week in these slideshows. That move is yet to take place.

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That represents an increase of 470 percent. Since the start of the year, it is more than a 1,700 percent rise when it was worth just.006. The price of Ripple's XRP token broke through the one dollar barrier to hit.37 on Dec. "People feel comfortable with its name and the technology behind Ripple said Trevor Koverko, chief executive of Polymath, told. Recommended Slideshows, a computer screen displays a site featuring cryptocurrency token sales and ICO (Initial Coin Offering) lists in Berlin on November 26, 2017.