The Ripple Cryptocurrency Skyrocketed 150 Percent, Higher Than Bitcoin

Ripple (Currency)

JAKARTA - Lately, bitcoin has become more attractive among other cryptocurrencies after many parties bought up the virtual currency. Its value is even higher than others.

However, as a percentage, there are still other currencies that are higher and beat Bitcoin. It turns out that bitcoin is still under ripple (XRP). During this year, XRP soared to hit the 160 percent mark on February 13. Meanwhile, bitcoin only increased by 66 percent.

When viewed from its performance, XRP is two times superior to bitcoin. Meanwhile, in terms of price, it is clear that XRP is cheaper than bitcoin. Ripple is traded for USD 0.55564. This is far from the value of bitcoin which approximately USD 48.217.99.

This means that the price of ripple is less than 1 US dollar per coin. While bitcoin sells for 50 thousand US dollars per coin. This difference is very far even though both are digital currencies.

Since the emergence of bitcoin, the virtual currency was designed to be a decentralized cryptocurrency that can be used for transactions. For information, decentralization means that no single person or authority can control it.

While Ripple itself was created by Ripple Labs, it is more open source and was created for transactions, transfers, and currency exchanges in a transparent, cheap, and faster way.

This virtual currency created by Ripple Labs is called XRP, but the public thinks that Ripple and XRP are the same. Not only that, bitcoin and ripple also differ in size. This difference makes XRP a cheaper value than bitcoin.

Bitcoin has a limited amount, which is 21 million. Now there are 18.6 million bitcoins on the market. The rest can only be obtained by mining.

Meanwhile, the XRP cryptocurrency cannot be obtained by mining. This currency has an amount of 100 billion. While around 45 billion are circulating on the market, the rest is stored at Ripple Labs.

Many people view the XRP currency as the same as other cryptocurrencies such as bitcoin which cannot be controlled by anyone. In fact, XRP is controlled by Ripple Labs. The company is the authority that controls the value of XRP. This is similar to the existence of a central bank that can control savings and exchange rates.