XRP, a cryptocurrency that has distinguished itself amidst the dump and pump among significant cryptocurrencies has been able to create its own niche by being the “crypto of the people”. The digital token has had some glamorous backing throughout its life, which has made it a unique token in the cryptosphere.
Taking The Bull Eye Investment
XRP over the past one year has maintained an increase of 73% in value while most cryptocurrencies have taken a quite a beating in the markets. The first crypto bitcoin has made a thick fall of over 70% since a year ago. The cryptocurrency with the vigor of surviving the trend of the massive dump in the market has maintained its status with some strategic features which made it a haven for investment, at a time like this.
One of the factors that affect the trend of a cryptocurrency is the awareness and publicity it receives over a period. The type of publicity determines the status of the cryptocurrency; if the status of the publicity is negative the impact on the value of the cryptocurrency will be negative and vice versa.
Lending voice to this factor was the opinion offered by one of Wall Street’s tech veterans, RBC Capital’s Mark Mahaney. When his opinion was sought on the appropriate time to invest in a firm, he stated:
“When companies become verbs, nouns when they become part of the popular vernacular…”
XRP, The People’s Cryptocurrency
XRP is a cryptocurrency that is tagged “the world’s only enterprise blockchain solution for global payments” and is rank 3rd with the market capitalization of almost $13 billion at the time of writing this piece. It was co-founded by Jed McCaleb and Chris Larsen in 2012.
The cryptocurrency has taken the positive media trend which makes a top value haven for investing. It has become people’s token by associating with celebrities and engaging the poor.
Ripple has dominated the media recently for all the positive reasons, through a partnership with an A-list pop star Madonna for a fundraising campaign for the orphans in Malawi. The fundraising campaign that spans from July 30th to August 16th will see fund raised matched to XRP.
Another celebrity who has taken an interest in XRP is Ashton Kutcher. He donated $4 million worth of Ripple’s XRP coin to The Ellen Degeneres Wildlife Fund. A former president of the United States, Bill Clinton will also be giving a keynote address at Ripple’s Swell conference in San Francisco this October.
The media buzz it has got through association with celebrity and the people makes the cryptocurrency a safe bet for investment in the eyes of the mass.