Altcoin Ripple 13% Surge Gets Investors Forecasting Breakout
Excitement is on the horizon as the altcoin Ripple climbs 13% in 24 hours, yet the company appears surprised.
Ripple has recaptured its $12 bln market cap as it outperforms all coins in the top ten on Tuesday.
Data from Coinmarketcap revealed that the platform’s XRP asset climbed 13% in the 24 hours to press time, reclaiming ground that it lost last month.
The performance overshadows the comparatively stagnant growth of other cryptocurrencies this week, with only Litecoin’s weekend growth mirroring its trajectory.
Analyzing the trend, trading commentators were expectant.
Despite receiving mixed reviews from cryptocurrency circles due to its comparative lack of decentralization, Ripple is nonetheless gaining ground in traditional finance markets.
An article in American Banker last week even forecast that the network “will do more than knockout SWIFT” if the trajectory is maintained.
"They've had something of an identity crisis about who their customer is and what problem they are trying to solve," consultant John Light told the publication about Ripple’s history.
A curious comment came from the startup’s own head of XRP markets, Miguel Vias, who described the asset’s continued success despite the ups and downs of the network itself as “confusing as hell.”