Trevor Koverko, CEO of Polymath (a Toronto-based company that has built a securities tokens platform, enabling financial companies to launch their own asset-based securities easily and inexpensively) told Forbes: “People feel comfortable with its name and the technology behind Ripple. A lot of people are beginning to realise how big of an opportunity there is between business and the blockchain, and that’s making Ripple the early winner here.”

Iqbal Gandham, margin director at eToro added that ripple gained a very good position at the moment, with huge market interest. He said: “This boost in XRP’s price could be attributed to XRP becoming available on more exchanges making it widely available, as well as its potential for widespread adoption by financial institutions.On a fundamental level, the market has taken notice of the RippleNet cryptocurrency network’s speed and scalability – which has strengthened the demand for XRP.”

His words are supported by facts, because XRP increased by more than 1,000 per cent since the start of December 2017, when it was trading at about $0.24.