Ripple is one of those digital currencies that are rapidly gaining values. The value of this currency began to soar after the company announced the locking up of $55 million as escrow funds. The adoption of the currency by more and more financial institutions and Banks across the world is also another complimentary factor. Ripple had already touched $0.85 mark last night. Now, the world’s leading Bloomberg terminal has added it to its terminal.
Here, it is important to mention that Bloomberg Terminal is actually software made by Bloomberg to enable the individuals and businesses to access its professional service and analyze the financial market data. It has not only added Ripple but has also added Ethereum and Litecoin to its terminal. This news has proved steering news for all the three currencies. The price of Ripple has jumped an all time high of $0.90. A close observation of the digital currency shows that it has increased about 300% in value in the last three days.
The record breaking value of Bitcoin to $17900 this week has attracted more investors and businesses to the virtual currencies. As a result, all the three currencies behind Bitcoin are soaring rapidly. Earlier, this week Ripple was at the fifth place in value. But, this 300% increase in its value has once again made it the third more valuable currency of the world.
It would be right to mention here that all these currencies are based on a little different blockchain technologies. Ethereum is built on versatile software and the Litecoin is a close relative of Bitcoin in this regard. Whereas, Ripple is a lot different from all other currencies. It works not only as a currency but also as a payment platform. This is why more and more banks and financial regulators are adopting it. It has decreased the real time of transactions across the world.