The Ripple XRP Coin Leads Digital Currencies out of the Bitcoin crisis in China

The Ripple has achieved a good growth and leads the digital currencies with positive news

 After the successive strikes by the People’s Republic of China on the currency of Bitcoin and her counterparts, the digital currencies market has retreated and billions of dollars have gone out before stabilization of the market value. Giant currencies remain in their places in a quiet scene that has continued during the last period.

The Ripple which ranked fourth has become now in the third place, actually, it is in a constant conflict with the recently born coin in August 2017 which is the Bitcoin Cash, that shares third and fourth place consistently with Ripple and is close to its market value.

Both of them have a market value of more than $7 billion dollars and are close to $8 billion dollars, knowing that both arrived during the last period and before the crisis of Bitcoin in China to $10 billion dollars.

•   Ripple focuses on banks and financial institutions:

It is well known that the developer of this currency, which stands behind it, provides services and technologies to banks to accelerate the sending and receiving of funds safely and at the least cost that allows financial institutions to achieve greater returns compared to the methods used so far in the global financial system.

More banks have adopted the Ripple technologies and the company focused during the last period to target the US market and then Europe and here it is now expanding to Asia targeting India, where they opened an office which will be responsible of communication with banks in this country and establishing of partnerships and agreements that allow these institutions to use their high-quality technologies.

This means that this currency has a noble and logical goal, not like a number of digital currencies that were founded for no apparent reason only to be added to the package of digital currencies, which have increased from at least 850 currencies to 1128 digital currencies in recent weeks.

•   Ripple expands to Singapore:

Singapore has one of the best open economies to new and non-traditional investment opportunities and is open also to digital currencies.

The financial system in Singapore wants to improve the process of sending and receiving funds and reduce operational costs in order to increase revenues and provide more job opportunities in the financial sector.

Based on this principle, the Ripple developer believes that ignoring this market is not wise and that they should exist officially there.

On Tuesday, the company announced the opening of an office there after obtaining a license from the authorities, which will run its operations in the country.

The next step is to get in touch with banks and meet with them to inform them about Ripple technologies that will help the country’s financial institutions to improve their performance.

Therefore, the coming months will carry positive news for this currency in this Asian country, which is characterized by the rapid growth of its financial system.

•    Investors are optimistic and more dollars are pumped into the Ripple

The good news that Ripple has kept in the midst of the Bitcoin crisis in China has opened the appetite of the investors and buyers to buy it at this cheap price of 0.17 cents over the past few days and now they are back to 0.20 cents but have not yet reached 0.25 cents which was its value in the first day of this month.

The decline in its price last period was an opportunity to get and store more of it in the digital wallet and target the long run.

Some investors expect this currency to reach $1 Dollar next year or by the end of this year. The majority of its fans see 2018 as the golden year of this currency and it will exceed all positive expectations.

This positive wave of Ripple has prompted investors to buy some other digital currencies, including Bitcoin, referring to the beginning of re-confidence in this market, which was shocked by China and shook the confidence of investors in digital currencies, even if some people said that what is happening now is the beginning of the end of this interesting story.