Cryptocurrencies are struggling for nearly a week: after some of the coins surged to record highs, a big crash came last Friday. Since then, we are seeing a recovery, but just a few hours ago, another slide was seen across the board.
However, one digital currency stands out: Ripple. The price of XRP/USD has reached a record high of $1.45 according to the data on Conmarketcap. At the time of writing, Ripple/USD is back to $1.35, yet this is still 8.55% higher on the day while bitcoin and other cryptocurrencies are falling.
Ripple is now the third cryptocurrency in terms of market cap, breathing in the neck of Ethereum. Bitcoin is the clear leader, despite falling over 25% from the peak.
Why is Ripple going strong? Here are three reasons that propelled Ripple to 3rd place:
All in all, Ripple finds reasons to rise while other applications of the blockchain do not, or even find renewed trouble. Will Ripple keep roaring and rallying?
Here is roller-coaster Ripple in the past week, using a snapshot chart from ConMarketCap.