Ripple Shows Activity in The Cryptocurrency Market
Ripple tested a new high level of $1. It’s the third largest cryptocurrency, according to coinmarketcap, although you may not have heard about it.
Ripple, symbol XRP had been trading sideways for months but turned sharply upward a week or so ago as described in a recent Digital Journal article.
Ripple the Company
Originally Ripple was launched as “Opencoin”. The company was founded in San Francisco California, 2012.
The company developed the Ripple payment protocol and exchange network. The digital coin was accepted as one of the 50 Smartest Companies in February 2014.
Ripple is Complementary to Rather than a Competitor of Bitcoin
Ripple considers itself a complementary service that could actually help bitcoin users, while others may see RIpple as a competitor to bitcoin. There was even wrote an article introducing Ripple to bitcoin users.
The Ripple network allows the seamless transfer of any form of currency: dollars, euros, pounds, yen, bitcoins or other cryptocurrencies.
The Ripple protocol’s developer Stephen Thomas said Ripple will open many ways for bitcoin users to contact with the mainstream world of finance.
Asians are Diving into Ripple
Ripple was described as a Western Union using blockchain technology in Asian territory , according to Forbes article. This digital payment system allows to make payments using Ripple coin.