Connect with us

Ripple

Ripple [XRP] is out performing its competition in top 3

Aman Swami

Published

on

Ripple [XRP] is out performing its competition in top 3
Source: Pixabay

Since its genesis, Ripple’s various methods to sell XRP has incentivized market maker activity and in return increased XRP liquidity and strengthened the overall health of XRP markets. To eradicate concerns surrounding XRP supply, Ripple has placed 55 billion XRP into a cryptographically-secured escrow account. With the security of lion’s share of Ripple, people can easily calculate and verify the maximum supply of XRP that can enter the market. The total XRP held by Ripple is 7,169,567,650, the total XRP distributed is 39,122,794,968 and the total XRP placed in escrow is 53,700,000,024.

This is the overview of the strategy that Ripple has inculcated to reach the high flying growth it has today, it offers faster transfer than its competition in the top 3, Bitcoin [BTC] and Ethereum [ETH] according to its official website.

Currently, on a comparison of the data of the last 7 days, Bitcoin has seen a total of 13.29% volume increase, Ethereum has seen 20.60% increase and Ripple has outrun both at 34.77% increase. The data clearly shows how Ripple currently strives to attain higher volume and successfully by quite a margin outruns its competitors who stand at the top 2 position in terms of percentage volume increase.

Seven days ago, Ripple’s total volume was $622,028,000 and now it has increased to $819,671,000. Despite the fact that, Bitcoin still holds a market dominance of 40.2%, the growth rate of Ripple is definitely a boost to its investors and potential investors.

A twitterati tweeted once the numbers came in,

“How to be rich:

step 1: Buy XRP

step 2: HODL

step 3: Be rich”

The major issue that arises is the lack of constant growth that Ripple faces, in the past one hour, the volume is seen to be declining at 0.61%.

Other altcoins are challenging the volume percentage increase of Ripple by outrunning Ripple’s volume percentage increase by up to 15-20%. Currencies like IOTA, Cardano, NEM, StellarLumens are experiencing a volume percentage increase between 45-65% over the period of last 7 days. Ripple securely holds its third position despite the massive volume percentage increase in Altcoins.


Subscribe to AMBCrypto’s Newsletter


loading…




Follow us on Telegram | Twitter | Facebook



Aman Swami is an Economics major from Christ University. He is very passionate about cryptocurrency and understanding of financial markets.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending