Ripple is the underdog now and many believed that the whole project was nothing but a sham. The majority of the people I have spoken with said one thing: “There is no comparison between Ethereum and Ripple.” The general consensus has been that Ethereum is real – it is a solution for enterprises and we can see this becoming another form of a new internet. But Ripple, on the other hand, is only using all the money it raised to create fake marketing and PR. However, the reality has changed for a short period of time when Ripple, the underdog, whopped Ethereum and secured the place of the second biggest coin by market cap. But, it was short-lived, as Ethereum has secured that spot once again. Having said that, it is Ripple which is still pulling the weight for the entire crypto-market – at least for now.
The growth of Ripple has been astonishing over the last week. The cryptocurrency made a low of $0.25 on September 12 and it touched a proud $0.77 on September 23. That is a whopping 205% gain, moving from the September 12 low to its highest point yesterday.
At the time of writing this article, the price of Ripple was trading at $0.55, that is to say that Ripple is up nearly 126% from its recent low of $0.25 or in other words, it has gone up 126% within eight days . This strong move in Ripple has pulled Ethereum out of the water and the price is trading firmly above the critical mark of $200. At the time of writing this, Ethereum was trading at $232, which is up nearly 46% from its recent low of $167 formed on September 12th.
Ripple has one key mission – to integrate its technology with large payment providers and banks. A top-ten U.S. bank, PNC, announced last week that it would utilize RippleNet for its customers’ international payments. The company’s blockchain solution, xCurrent would be used to speed up the transaction.