Ripple is currently one of the top performing currencies in the crypto market, taking the place of the third-largest currency by its market cap of over 21 billion dollars and still counting.
Moreover, Ripple XRP is one of the oldest currencies in the market, as well as well-established, scoring many amazing achievements over the course of the last three years since it was launched back in 2015.
In the most recent bull run, Ripple foundation easily skyrocketed with their latest announcement on the matter of releasing xRapid, the only system made by the foundation that actually needs XRP, as a product that would introduce XRP to the network of banks and financial systems that are currently cooperating with Ripple foundation.
Even on September 26th, more than a week since the announcement, XRP is seen in an amazing rebound in form of gaining 16% against the fiat in the course of the last 24 hours, making it one of the top performing coins on the top 20 list in the period of the last two weeks.
However, it took some time for Ripple to get where it is now, obviously affecting the price of XRP in the market along the way. So what has Ripple achieved by far and how it actually affected its native currency, XRP?
Ripple’s”Humble” Beginnings: the Year of 2015
Ripple was launched back in 2015, when it also received a strategic investment by Santander bank of 4$ dollars, still cooperating with Ripple foundation on utilizing faster and more cost-effective banking solutions for remittance payments.
The beginning of Ripple foundation and XRP cannot be righteously described as “humble” because Ripple had a pretty smooth start, already spreading its influence across 15 countries and in over 25 banks that started with using either Ripple’s xVia or xCurrent, that way integrating Ripple’s technology into various financial and banking systems.
At the time it was launched, the foundation and XRP also had 10 out of 50 largest banks in the world cooperating with Ripple in form of joining their network and using their technology for enabling faster and cheaper payments across the globe.
The goal behind the foundation from the start was to provide easy and simple input for enabling cheaper and faster transactions for global payments around the globe, in which Ripple is succeeding for three years now.
That means that even at the beginning Ripple has enabled an amazing level of cross-border payments, also allowing for direct bank-to-bank transactions, at the same time spreading their influence in the Asian Pacific.
Ripple in 2016: Building Solid Financial Solutions
This was the year when Ripple had its reputation already established in and outside the cryptocurrency market, so the foundation was ready to continue with building solid financial solutions for cross-border payments that would cost less and also take less to be completed.
2016 was also the year when Ripple scored one of their most influential partnerships with SBI holdings, a massive banking system, which together with Ripple had made a merged venture called SBI Ripple Asia, that way spreading Ripple’s technology to Japan, China, South Korea, and Taiwan.
Soon afterward the merged consortium consisted of 42 banks as the members, that way widening the Ripple network of partners, and with it, XRP grew in the market as well. However, it won’t be until January of 2018 that XRP will make it to its record price of around 3$ per one unit.
With the second funding round, Ripple got 55 million dollars in revenue, also progressing in the matter of integrations now counting over 30 active integrations across the globe, now having 15 out of 50 largest banks working with Ripple foundation.
But, still, XRP didn’t thrive much in the market as the currency was valued at around 0.0060$ by the end of December of 2016.
Ripple in 2017: XRP the Top Gaining Currency
The name of Ripple foundation got even more popular and interesting to investors in 2017 when Ripple is said to have been one of the top gaining coins. This was the year when Bitcoin (BTC) gained over 1000% of rises, while Ripple has dominated the market with recording over 36,000% over the course of the year.
That means that XRP managed to rise from its low of 0.000017$ to the amazing 3.65$ in the first days of January of 2018, making it the top third currency in the market cap, where XRP is still at.
However, although Ripple has had many different financial institutions and banks joining the network, this was the same year that brought doubts regarding Ripple’s policy, accusing the foundation of being centralized and using XRP for funding their own ventures, which is simultaneously the time when Brad Garlinghouse became CEO of the foundation, formerly holding the position as the COO of Ripple.
Ripple in 2018: XRP Finally Ahead of Adoption across Banking Systems
It wasn’t until the recent events that Ripple finally announced taking XRP into an adoption run with launching xRapid to the financial institutions and banks that are actually interested in introduced XRP as a currency to their banking systems.
This is at the same time a great milestone for XRP, perhaps even the greatest, as XRP is seeing some major improvements in the market as financial institutions like SBI holdings, one of the foundation’s first partners, and Mercuryfx, are already testing the product that should be out in a month or so as per the announcement of Ripple’s representatives.
At the same time, Ripple is actually promoting XRP across banks and fin institutions openly for the first time, which is gradually removing any doubts left on the matter of Ripple’s legitimacy in the terms of decentralization.
As XRP is breaking through the value of 0.50$, currently being traded at 0.54$ with the latest rise of 16.30% against the fiat, it would be the most amusing case to see how the launching of xRapid as an active banking solution will affect XRP in the months to come, welcoming it to 2019.