The year 2017 has been pretty solid for Ripple. Not only has the company signed new partnerships, but RippleNet is becoming more robust as well. Additionally, the value of their XRP asset has reached new heights in quick succession. As of right now, one token is valued at $1.18. A very stark contrast to the $0.006 in February of 2017. Whether or not we will reach that illustrious $2 mark next year, remains to be determined.
No one can deny good things are happening to the XRP price right now. While most people expected growth, the reality surpassed most expectations. While it was evident this token had some value to it, things have accelerated quite nicely in the end. Not everyone in the cryptocurrency world sees the merit of this project, though. It is not a cryptocurrency by any means, nor should it be considered as such.
XRP Price Momentum is far From Over
At the same time, the trading of XRP against cryptocurrencies is somewhat controversial. It certainly impacts the price as a whole, and not in a positive manner most of the time. Speculation runs wild in the cryptocurrency world. This hinders the XRP price as well, even though it was never designed to be used by cryptocurrency enthusiasts. Then again, this is also partially where the value is derived from. It will be interesting to see how this correlation evolves in the coming months.
What the future holds for Ripple and XRP, remains unclear It was good to see the team commit to locking 55bn XRP in escrow a week ago. This puts a lot of unknown factors and speculation to rest. After all, if the 55bn were dumped on the market today, the XRP price would crash immediately. That cannot happen for at least another 54 months from today, which is somewhat of a relief. The market has certainly responded well to this development in the past few days.
Everyone has to agree good things are happening in this world of cryptocurrencies and digital assets. While not all changes are as we had expected, 2017 has been pretty solid overall, If this trend continues throughout next year, we will have a great time. Rest assured there will be dips and corrections along the way. However, every dip seems to have less of an impact compared to the previous one. A very interesting ecosystem which is still massively undervalued, all things considered.
Header image courtesy of Shutterstock
