It has it’s own digital token that trades as XRP but markets itself as cross boarder payment solution for big banks.
Ripple is a payment network for banks and financial institutions that allows them to send and receive currency and settle transactions more quickly and more cheaply than their existing back-end systems.
Ripple’s network of nodes is akin to the bitcoin blockchain., did not launch until 2012, the concept, however, originated in 2004, which predates bitcoin.
Whilst Bitcoin was taking an 11% beating overnight, XRP was up – 30% in the last 24 hours, more than 450% in the last month and over 20,000% year-to-date (YTD).
Last nights rise is probably because – A Tokyo-based financial services company SBI Holdings and its subsidiary SBI Ripple Asia — formed with Ripple in 2016 — announced the establishment of a “consortium” with some Japanese credit card companies to utilize blockchain technology, according to an online translation of a release.
“One of the things we all have to remember is the value of a token over the long term is really going to be driven by its utility,” Ripple CEO Brad Garlinghouse
XRP appears to be on a path of it’s own at present.
You can’t short it, yet, and remember that when the dot com bubble burst they all got creamed.
There were one or two survivors that did very well after crashing with the rest like Amazon, Amazon and Amazon
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