Ripple's native cryptocurrency, XRP, is on a bull run.
According to CoinDesk data, the price of XRP is up over 1,000 percent in just the last month alone, eclipsing $3.50 per coin Thursday after spending much of 2017 under $0.30. With a market capitalization above $120 billion, the token has usurped ethereum as the No. 2 cryptocurrency after bitcoin, and social media is rife with speculation about when it might take first place.
But where some might see the kind of meteoric growth that's often associated with a breakout product, industry insiders have been quick to tap the breaks.
Rather than herald the run-up as a success story, some are using the spotlight to revive long-standing controversies that have dogged the Ripple blockchain network, the startup that created it and its fair-weather approach to marketing the cryptocurrency.
Indeed, founded with the mission to bring bitcoin's decentralized, cryptographic architecture to financial services, Ripple has had a complex relationship with XRP – at times touting it as a way for banks to transact seamlessly across borders, while at other points describing it as a benign value-add to enterprise versions of the company's software.
Such hot-and-cold thinking has long been on display in the company's public remarks on the subject.
Reference
https://www.coindesk.com/100-billion-controversy-xrps-surge-raises-hard-questions-ripple/