Cryptocurrency News

Ripple at its highest growth of the year and has raised $200 million!


Good news for the investors! The third biggest altcoin, Ripple, has touched its most significant growth of the year 2019. In a new funding round, Ripple raises $200 million, and that is the highest growth since the day it appears in the cryptocurrency market. The new series is leading by Tetragon and also the Ripple’s primary partner, SBI holdings, and Route 66 participating in this new series C funding. Because of this new series, now the firm value is $10 billion, and it is standing in a strong financial position.

  • Ripple can get help from this new funding to improve its global payment network and also the other fund transmitting activities using XRP, XRP ledger. XRP ledger is standing on the third position of the top 3 cryptocurrency trading platform. According to the capitalization of tokens, now it is the third-largest market behind Bitcoin and Ethereum. Ripple has sold $66.24 Million XRP tokens in the third quarter of this year. According to the Coinmarketcap, the current worth is $8.4 Billion. Ripple controls a significant chunk of the total of the XRP cryptocurrency market. 
  • The CEO OF Ripple, Brad Garling’s house, has stated that the firm is standing in a strong financial position. When the other firms in the blockchain space have slowed their growth or even shut down, Ripple is growing year over year. In the year 2019, their company has accelerated the momentum and industry leaders. The result is in front of everyone. The most significant growth of 2019 is claimed to mark a record growth through the help of new series C funding. Now they are trying to convince the financial institution to consider Ripple Net as the Back-end currency for international transactions. 
  • Because of the growth year over year, now Ripple has customers from across 45 countries and six continents. The payout capability of Ripple is in more than 70 countries. According to the coinmarketcap, Ripple has grown more than three hundred customers across all over the world. In the mid of October, Ripple drops its sales. The sale of Ripple Q3 of the year 2019 came down over 73% as compared to the sales of Q2 of 2019. The total sales of Ripple’s second quarter of 2019 were $251.51 million. But the end of the year and third quarter ripple claimed the year 2019, as the steadiest year. 

Also Check: Alibaba Group won two U.S. patents- The blockchain transactions will be more secure now!

Recently, Ripple has joined the second-largest money remittance firm and took a 10% stake in Moneygram to at least be a part and help them to switch to Ripple Net. At the end of November 2019, Moneygram has secured $20 million from their original commitment of $50 million equity investment. As per Garling’s house, the deal with Moneygram of using Ripple’s rapid liquidity product is much bigger than the Facebook Stablecoin libra project. As per the CEO Brad Garling’s house, because of their partnership with Moneygram, Ripple will grow their customer base around 30% to 40%, and the transaction volume will increase more than 600%.

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