Earlier this year, Ripple Labs launched two new whitepapers: one analyzing its current consensus algorithm and the other covering its plan to improve its connection and verification systems. These releases indicate its determination to continuously upgrade its technology. As a crypto currency designed for transactions, XRP piloted its new xRapid network in May, and launched the network in October. In addition to UBS, UniCredit and over other 100 members from earlier stages, UAE Exchange and Saudi National Commercial Bank have also joined RippleNet this year, looking to benefit from its instant, transparent global payments method.

In the last three months, XRP has shown a strong performance, gaining almost 50%.

MVIS CryptoCompare XRP Index versus 
MVIS CryptoCompare Digital Assets 10 Index versus 
 MVIS CryptoCompare Digital Assets 100 Index

Source: MV Index Solutions. Data as of 9 November 2018.

About the Author:

Philip (Xiaocheng) Lin serves as an Index/Data Specialist for MV Index Solutions. He focuses on researching underlying data for indices and the maintenance of these indices. With his expertise, he offers deep knowledge in crypto currencies and blockchain technology application. Xiaocheng Lin holds an M.Sc. in Economics from the University of Freiburg, Germany.

The article above is an opinion of the author and does not necessarily reflect the opinion of MV Index Solutions or its affiliates.