2018 has been a successful year for the digital currency in terms of adoption and a number of positive developments. As such, Ripple has potential to become one of the best performing digital currencies. These view has been echoed by the platform’s CEO, Brad Garlinghouse who believes that more institutional investors are on their way.
Ripple (XRP) has lost 90% of its value from its all-time high. The coin’s price currently holds a critical support at $0.24001, and it may spend some time in a base pattern before finally moving up. Additionally, the bearish trend may be reversed after the price break out of the current downtrend line. As such, after a down period in the last few months, the coin’s value is starting to go up again. Hence, this may be traders’ last chance to buy on the cheap.
Ripple is a different kind of digital currency. The platform is more of a protocol rather than a cryptocurrency. The Token of Ripple is known as XRP. Owing to its different nature as compared to some of the other cryptocurrencies, it has generated a lot of interest from the investors.
Moreover, Brad Garlinghouse believes Ripple has potential to become a top performer in 2018 due to the increased institutional participation. In turn, increased adoption will see more buying and interest in Holding XRP. Additionally, the firm’s Chief technology Officer, David Schwartz stated that, since both Bitcoin (BTC) and Ethereum (ETH) are considered as decentralized, then XRP ledger is also, by design, more decentralized compared to Bitcoin and Ethereum. Also, Weiss Ratings tweeted that XRP is the fastest digital asset to transfer funds between exchanges. This is the main reason why Binance makes use of it as the base currency.
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