On Wednesday, the price of Ripple has increased by 15 percent, allowing XRP to be the second cryptocurrency, which had a market capitalization of $ 100 billion.
Ripple’s market capitalization exceeded $ 100 billion after the launch of a hedge Fund XRP
The price of Ripple is more than meet the expectations of investors increased by almost 30,000 percent in 2017. The rate of growth of the cryptocurrency at times exceed the growth rate of any other cryptocurrency upper echelon. Investors hope that the 2018 trend will continue.
On Wednesday, the price of Ripple climbed to a new record high of $ 2.57 on the exchange Bittrex, while average price also reached a record high of 2.80 dollars due to the fact that the price of South Korean exchanges exceeded $ 3. The share of the cryptocurrency exchanges from South Korea accounted for nearly 50 percent of all trades for XRP. Currently, the global average price of Ripple is 2.74 USD, which corresponds to the capitalization in the amount of 106 billion and represents an increase of 15 percent for the day.
Hedge Fund XRP
Today’s growth seems to be linked to the news that Arrington Capital XRP – cryptocurrency hedge Fund with assets of $ 100 million, launched by TechCrunch founder Michael Arrington, officially began its work.
Although this is not the first crypto hedge Fund and not the largest, it is the first, whose assets are measured in XRP, but Arrington said that investors will buy the Fund’s shares and to receive dividends in XRP. All wages and compensation will also be paid in XRP.