Ripple (XRP) has been on fire. It has had 800% and higher gains in the last 60 days. With its rise in the last 30 days, it has past Ethereum to the # 2 slot on Coin Market Cap. Yes, Ripple has made explosive gains. Why? Is it because it will be listed on Coinbase as the latest crypto currency that can be purchased with Fiat currency? Is the rise in Ripple due to more banks using its network? FOMO? It is hard to tell.
Ripple has been nick named the "Banker's Coin". Ripple was introduced in 2012. Ripple claims to provide a secure, fast and inexpensive global financial transaction network with no charge backs regardless of the transaction size. Some of the major banks that are using Ripple are , UBS of Switzerland, Banco Santander of Spain, Unicredit of Italy , Canadian Imperial Bank of Commerce and American Express. These banks are able to transfer funds among each other quickly and cheaply utilizing the Ripple blockchain technology.
In the crypto world however, Ripple is not trusted or liked. The community views Ripple as the Bankers Coin and will not support it. The whole idea of crypto currencies and the blockchain is to get away from the banks and the banksters. Ripple is viewed as a potential crypto currency that is centralized and controlled by the banking cartel. Ripple was pre mined and controlled by a centralized governance that holds all of the vaulted stored coins (not in current circulation).
There is nothing to stop the banks from simply printing Fiat currency and buying Ripple to drive up the price. Likewise, there is nothing to stop the banks from selling their Ripple holdings when liquidity is needed in a hurry (example being a banking crisis). It would be in the best interest of Banks, to drive up Ripples market share and make true decentralized crypto currencies loose market share and drop in price/value. This would create the illusion of value for Ripple and attract the less sophisticated investor.
Yes, Ripple could be the Trojan Horse. It could be the snake in the grass or the mole in an organization. There is no question regarding Ripple's rise and climb to the # 2 spot with a $135 Billion Dollar market share. The only question is, is it justified and genuine? I will let you decide. I never have owned Ripple and never will. I support Bitcoin, Litecoin and the many true and real crypto currencies that are decentralized and not pre mined. If there are gains to be made, I will do it with the peoples coins and not the banksters coin.
image from: buyripple.com