In this article, we are going to talk about the history of the technology price of another cryptocurrency with blockchain called Ripple. Although this technology incorporates a type of digital currency (XRP), it is generally different from currencies such as Ethereum and Bitcoin. In the following, you can see the whole changes of this currency.
Although the Ripple coin was made in 2004, Bitcoin is still the oldest cryptocurrency, because the year of launch of a digital currency determines which currency is older than others (as you know Bitcoin started in 2009). The creator of Ripple technology is a well-known person in the world of technology. This person has a familiar name in technology, Ryan Fugger, a Canadian web developer. In 2005, the idea of a financial service for online payment was given. This financial service was called Ripple pay, but by 2011 the idea was just being tested and had not yet been implemented. Finally, in 2011, the idea was implemented as the XRP digital currency. He was Jed Mc Caleb who designed XRP as a decentralized currency.
In 2012, Ryan Fugger gave the leadership of the decentralized currency project to Jed Mc Caleb and his colleague. They founded a new company called Open Queen. By 2013, despite the positive developments that had taken place in its favor, the value of this currency had not yet exceeded zero. Finally, this year the currency was valued and offered to exchange offices for the first time at a price of $ 0.005.
Ripple grew a huge amount in US dollars between 2014 and 2018. As you can see in the chart, the peak price of this currency has been in these years, especially in 2018.
In 2014, the highest price of this currency was just a little more than the initial $ 0.005. But the investment of a German bank called Fidro really had a great impact on the popularity of this currency. This investment made Ripple the second most valuable currency in the world this year. Of course, it is worth noting that at that time, since Ethereum had not yet begun its work seriously. In 2015, the currency raised $ 400 million from Santander, known as the world's banking giant. This was good news for this currency, but like in 2014, it could only be effective in making this currency more known, and there was no difference in its price.
In 2016, the currency was licensed as the official currency in New York. However, like the past two years, there was no significant change in its price. But in 2017, the currency finally began to rise sharply. At the beginning of this year, the currency was worth over 25 cents, but after succeeding in an operation in East Asia, at the end of the year, the currency was able to cross the border of one dollar.
Year of 2018 was the best year for Ripple digital currency, XRP, and in January 2018, the currency was traded at $ 3.8. But in a short time, the currency reached $ 0.05, which shocked and disappointed its fans.
In 2019, the currency fluctuated between 21 and 50 cents in its price range. According to economists, the reason for the low price of this currency in this year was giving free XRP tokens to banks and exchange offices. Of course, free token distribution was done in these centers every year, but in 2019, it reached its maximum. Also, the low use of this currency in global exchanges is another reason for the low price of this currency in this year.
The price of Ripple reached a maximum of $ 0.7 in 2020, but with the removal of Ripple from the list of currencies of some banks, this currency price fell and even reached $ 0.17. However, for a short time, the price was $ 0.17 on this currency and this currency immediately became $ 0.2, which is still not a very pleasant price. Economists have the same views on the low price of XRP in 2019. It should be noted that Ripple can almost never be expected to experience a price as high as Bitcoin.
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