The Ripple currency is continuing to grow in volume and value.

One can not ignore the tremendous growth that Ripple has experienced over the last few weeks, particularly as it compares to the rest of the market. Ripple (XRP) has continued to grow in volume, now reaching second-highest trading volume at around $1.7 billion, behind only Bitcoin at around $5.2 billion.

As Bitcoin is being exchanged for Ripple, the value of Bitcoin is declining relative to the value of Ripple. The price movements favor Ripple as it gains on BTC value, even more so than USD value.

Ripple is touted as a fast, cheap, international banking transaction coin. Most cryptocurrency users would cringe at the thought of the banking establishment dominating the cryptocurrency world, but where there is money to be made, there will be banks and investors of all kinds. Part of the reason for Ripple's growth today can be attributed to this news:

Earlier today, announcements were made regarding Ripple working with a number of Japanese credit card companies:

The gains followed news that 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. -cnbc.com.

Ripple has a very high coin circulation, nearly 40 billion. It is now the third largest in market cap, behind only Bitcoin and Ethereum, recently surpassing Litecoin. It willl likely continue its rapid growth as it gains mainstream attention.

Speaking of mainstream attention, rumors continue to swirl that Ripple will also be the next coin to be launched on Coinbase. This seems likely as it continues to grow in adoption, volume, and market cap. Launching on Coinbase would create considerable further growth for the coin.

As I recently mentioned: as a trader, consider leaving your emotions aside regarding the dilemma of supporting an "establishment" coin. There is money to be made here.

*This is not professional trading advice - just my opinion!

sources:

cnbc.com

insidebitcoins.com