From Adoption to FOMO: Reasons Behind Ripple’s Leap

[CebuBitcoin]

Over the past week, altcoin Ripple’s (XRP) price has gone through the roof. It has seen an unprecedented 140 percent growth over the past seven days, up almost 63 percent in the past 24 hours alone, trading at around $0.61 at press time.

XRP has gone as far as to beat Ethereum (ETH) to be ranked number two by total market capitalization on CoinMarketCap (returned to the third spot by the press time). What could possibly drive the price so high? While there’s no definite answer to that question, here’s some background and theories.

Ripple is a California-based payment network and protocol company that was established in 2012. Essentially, it focuses on facilitating transfers between major financial corporations.

Ripple is not quite your average cryptocurrency — in fact, some might argue it’s not a cryptocurrency at all. It champions a less conventional ideology for the industry: Ripple doesn’t want to overthrow the government along with the banking system. Conversely, it chose to work with mainstream financial players from the very start. As Brad Garlinghouse, CEO of Ripple, told Cointelegraph in March:

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