• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Ripple

Is Ripple Price Being Fueled by Confused Investors?

Allen Scott
by Allen Scott
8 years ago
·
Posted in Altcoin Price, Altcoin News, Bitcoin, Bitcoin Price, News, News teaser, Ripple
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Riding the wave of recent positive news for Ripple, the XRP token is roaring with a 200% price surge over the weekend as the cryptocurrency market is reaching higher highs. But is Ripple for real or is it being fueled by confusion among new investors? 


Is Ripple For Real?

Jokes were abound this weekend as the cryptocurrency industry embraced April Fool’s Day in usual fashion. Meanwhile, Ripple experienced a serious surge with its market cap soaring from $360,000 USD to over $2.3 billion.

13

The price of Ripple XRP token experienced a whopping seven-fold increase in the past few days, and easily outperformed recent stalwarts such as Dash, Monero and the SegWit hopeful Litecoin in the past week. Even Bitcoin, which managed to break the $1,100 barrier on news of becoming a legal form of payment in Japan, could not match yesterday’s 200% rise. 

The rise comes amid news of Bank of Tokyo-Mitsubishi UFJ recently joining Ripple’s Interbank Group for Global Payments Based on Distributed Financial Technology.

mitsubishiufj

“We are pleased to join Ripple’s Global Payments Steering Group,” said Hirofumi Aihara, General Manager, MUFG Digital Innovation Division. “…Collaborating with other members of GPSG, MUFG will contribute to the creation of standards for Ripple’s network.”

Ripple is positioning itself as a cheaper payment network, particularly for large banks and enterprises, with a much higher throughput compared to Bitcoin. CEO Brad Garlinghouse explained that Ripple could rival traditional systems such as Visa with nearly 70K transactions in just 3.7 seconds and at a lower cost than Bitcoin.

3. Avg XRP fee: $0.00031. Avg BTC fee: $0.48. #fasterandcheaper

— Brad Garlinghouse (@bgarlinghouse) March 31, 2017

However, the token might be setting up for a reality check as some believe the price surge has been fueled by a “misunderstanding.” Critics on Bitcointalk.org reacted to the meteoric rise, pointing out that Ripple, the company, is not the same as the XRP token and its Ripple Consensus ledger.

According to Ripple, its Global Payments Steering Group (GSPG) is where “leading banks are working with Ripple to reduce the time and cost of settlement, while also enabling new types of high-volume, low-value global transactions.”

By coming together to form the GSPG, these banks are laying the foundation for a new payments network, underpinned by Ripple’s solutions and supported by rules and governance for global settlement.

In other words, new demand for the XRP token could merely be speculative at this point as banks would be able to bypass transactions on the Ripple Consensus Ledger with their own Ripple-inspired platforms.

The commentator also noted:

Check the volumes, [Poloniex] currently stands for $150M+ volume, RCL only 20. What now is happening is a pump, driven by people misunderstanding the news.

The Rise and Rise of Cryptocurrencies

Overall, April is getting off to a hot start for cryptocurrencies as the total market capitalization is now a record $27 billion. It has been on an uptrend, particularly accelerating as of late following the rejection of the COIN Bitcoin ETF in mid-March.

1

Though Bitcoin price has remained relatively stable oscillating between $900 and $1,200 amid scaling uncertainty, its overall dominance of the market has seen a huge drop from 84% to 68%.

Nevertheless, while the rejection of the first ever ETF might be seen as a setback for Bitcoin to some, the media attention received in the run-up to the decision appears to have attracted new investors to the crypto space as a whole.

What is the real cause for Ripple’s price rise? Is Bitcoin waning dominance a temporary phenomenon? Let us know in the comments below!


Images courtesy of coinmarketcap.com, Shutterstock, twitter, MUFG 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Allen Scott

Allen Scott

Follow

Allen is the editor-in-chief at Bitcoinist.com. He has a background in journalism and economics and had his Bitcoin "Aha!" moment in 2013. He has interviewed some of the most prominent experts, entrepreneurs and thought-leaders within the cryptocurrency space. Send your leads, tips or interview requests to: allen@wordpress-877131-3038746.cloudwaysapps.com

Full Profile

Related Posts

PrimeXBT: Top 5 altcoins to watch in 2025 

PrimeXBT: Top 5 altcoins to watch in 2025 

3 hours ago
Philippines

Philippines Authorities Move To Put Key Public Records On Blockchain After Mass Protests

13 hours ago
XRP

XRP And DeFi: The Roadmap That Tells It All

1 day ago
Liczba milionerów kryptowalutowych wzrosła

Liczba milionerów kryptowalutowych wzrosła o 40%. Rynek przekracza 3,3 biliona dolarów

1 day ago
Ripple

Ripple Vs. SEC Battle Update: Lawsuit Officially Over As $125M Receipt Of Payment To Regulator Surfaces

2 days ago
Altcoin OI Crash Signals Market Stress Beyond Bitcoin – $8B Wiped Out

Altcoin OI Crash Signals Market Stress Beyond Bitcoin – $8B Wiped Out

2 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    9 hours ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    2 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    3 days ago
  • Snorter надхвърли $4 милиона след...

    4 days ago
  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.