Why Asians are Crazy for Ripple?

Cryptocurrency is a form of digital currency which is developed for secure transactions and more over for anonymous transactions. It is associated with internet connection using cryptography. It helps in converting clear information into some code language which cannot be cracked or hacked. Cryptography was developed during Second World War so that any type of crucial information cannot be hacked or traced. So with the advancement in technology now this technique is being used for securing our money online which is called Cryptocurrency.

First ever Cryptocurrency was developed in the year 2009 and is known as BITCOIN and its still going very strong and best known Cryptocurrency till date. Now there are lot many other Cryptocurrencies in the market.

Another one which is most talked about and most prevalent in the market is Ripple. It is very much gaining its attention in Asian Market. Asians are going crazy for Ripple. Alexey Ivanov, CEO and co-founder of Polynom Crypto Capital Said that Asians Are going crazy for ripple. Price gain of Cryptocurrency is very much influenced by Asian crypto gamblers. Ripple’s value and exchange volume has increased to considerable level in last 24 hours. As the figures show nearly 25% volume increase at South Korean exchange Bitthumb and more than 10% volume increase on Bitfinex in Hong Kong.

Trevor Koverko, CEO of Polymath said that People are comfortable with Ripple and the technology behind ripple. People invested as less as $15 in bitcoin in the year 2012 which gave them output of $15,000 which make them believe that Ripple to will provide them same outputs. This is the main reason why ripple is gaining hype in the market and there is not any logical reason behind its hype in Asian Market.

Ripple started to grow in March, 2017 with XRP to USD $.3 and further increased to $2.81in Jan, 2018. In the same month Ripple again dropped to XRD to USD $1.33 and is stable till today. The current ripple price is USD $1.35. But people are expecting considerable hype in the rates of Ripple price as they say it’s just the beginning and will take some time to grow. They feel as awareness about Ripple will grow in the masses so do will Ripple grow. Ripple soon will announce its two more partners which are IDT Corp which is New Jersey based telecommunications provider and Mercury Fx Ltd which offers discounted foreign exchange rates both will help ripple with their new Pilot project Xrapid and it is expected that this will take ripple to new heights of success.

The market Cap of Ripple has also fluctuated to considerable level. As it started with total market cap of $89.49 Billion on 1st Jan, 2018 which further increased to $131.65 Billion but since then it dropped very significantly and today Total market cap of Ripple is $52.25 billion only. So these fluctuations show the uncertain behavior of the crypto currency but then it is just a part of business. Investors are still having high hopes in Ripple and we to believe that with time it will definitely touch the new heights of success.