Ripple increases $62 billion in market value
17 April 2018 London
Image: Shutterstock
Ripple experienced a spike last week, adding $62 billion to its market value.
The cryptocurrency broke some key resistance, $0.6500 and $0.6600, and nudged towards the $0.700 level against the US dollar.
According to Nigel Green, founder and CEO of deVere Group, Ripple is expected to “convert the remaining crypto cynics.”
Green, whose firm launched the deVere Crypto exchange app, said: “After the cryptocurrency market somewhat overheated at the end of 2017—thanks largely to investors piling in, pushing Bitcoin to an all-time high of more than $19,000— there was a major, natural price correction in the first quarter of this year of most of the major cryptocurrencies.”
Green added: “But the cryptocurrency market is, once again, now looking already significantly more bullish than it did in Q1 2018. This latest upward crypto market trajectory can be attributed to the fact that institutional and retail investors are increasingly appreciating the fundamentals, such as the need and demand for digital currencies in a digitalised, tech-driven age.”
Green concludes: “Ripple is likely to help change the perception of crypto, expand its own value, and co-lead the ongoing shift in the way the world uses, manages, accesses, stores and exchanges money.”
The cryptocurrency broke some key resistance, $0.6500 and $0.6600, and nudged towards the $0.700 level against the US dollar.
According to Nigel Green, founder and CEO of deVere Group, Ripple is expected to “convert the remaining crypto cynics.”
Green, whose firm launched the deVere Crypto exchange app, said: “After the cryptocurrency market somewhat overheated at the end of 2017—thanks largely to investors piling in, pushing Bitcoin to an all-time high of more than $19,000— there was a major, natural price correction in the first quarter of this year of most of the major cryptocurrencies.”
Green added: “But the cryptocurrency market is, once again, now looking already significantly more bullish than it did in Q1 2018. This latest upward crypto market trajectory can be attributed to the fact that institutional and retail investors are increasingly appreciating the fundamentals, such as the need and demand for digital currencies in a digitalised, tech-driven age.”
Green concludes: “Ripple is likely to help change the perception of crypto, expand its own value, and co-lead the ongoing shift in the way the world uses, manages, accesses, stores and exchanges money.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
