Hello, this is an update video for the ninth of January 2018. A lot has happened over the last month and over the last, I'll say two or three weeks, just in general, one topic that we're going to be covering today is ripple. So we are going to be covering, I'm going to get a new color when we cover in ripple. This is a very popular old coin. Now if you follow the cryptocurrency scene, to some extent, you probably have heard of this, especially by now and the ticker symbol is x r. p. So let's just give me some facts about the statistics I should say in terms of its price point over the last month. So I can't argue price on point for start of 2017 for the start of 2017, the price was 0.006 $5.

So to put that in perspective, this little part here, this little place here is the single digit column for dollar. So one here would be one cent 100th of $1. So less than $1 one ripple coin one XRP coin, whose report is the company actually and XRP is the actual you can go ripple XRP is called ripple as well. But ripple do do are the products which are linked today. So definitely recommend going and checking them out. There is less than one cent a month ago on the 10th on the 10th of December 2018 17 The price was low 0.2 $2.

As you can see, it increased by roughly 30 times, actually over 30 times since the start of the year. But he's over that over the last month when he really got serious when he really got interested. So on the 14th of December, so there's I'm not only four days later, the price was 0.8 $5, almost four times as much. So if you had over here, invested, let's say $10,000, ignoring any transaction fees, here, it would be almost worth or there's something roughly worth $40,000 on computer four days you could have made a profit of $30,000 on a $10,000 trade two week later. On the 22nd of December 2017, the price was $1 2010. So went up roughly 50%.

Again, still a pretty decent increase a week later, on the 30th of December 2017, the price went to $2 70. So that is huge income. So this is a big difference just compared to this, which was only 20 days before any free weeks. In three weeks the price went to over and tightened as much. That's just insane, just insane right there. And on the fourth of January, it hit its highest point on the fourth of January 2018.

All within a month, he hit a price of $3 77 as Creating the video, he was roughly $2 38 It wasn't just report that had gone down in value proach every coin except for effect, what people call aetherium hadn't gone dynamic it had actually gone up but pretty much everything had gone down in the cryptocurrency scene. So just got a couple of charts here for you to look at. So, this is a one month chart of ripple. So here is when the price was at this 0.2 $2. So 0.2 $2. So, these have like these peaks I have mentioned within these statistics.

And if you look at the one year curve, it's even more insane as you can see, like if you just look at it roundabout here, it's literally nothing and then all of a sudden Boom, he goes up is going down slightly. But again, this little part of going down the path of being a bit bearish is more due to the fact that a lot of the cryptocurrencies are well, decreasing in value just at the moment. So this is all well and good. But why did this happen? There's actually a myriad of reasons. I'll cover just a select few of them.

And they are very important. So the first one I want to collect is coin base rumors. So you might be thinking, where are coin base rumors or what were they? starters coin base covered this before, but it's the largest exchange out there and put into perspective. When Coinbase added. Bitcoin cash when they started accepting this wasn't the first exchange to accept it.

They only have to have four currencies at the moment for cryptocurrencies which said Bitcoin, Bitcoin, cash, ether and Litecoin. So in coin base, except Bitcoin cash within 24 hours, the price went up by 64%. So there were rumors that coin base over the next coming month over, you know, in 2018 that they was going to add new cryptocurrencies and the the heavy rumor that one of them was going to be XRP, aka ripple. So that really made people buy it. And that made them hoard it expecting that it's going to go up, but then ran but this sort of some of these drugs that have been happening here, were thought of due to the fact that Coinbase came out and said, we've made no promises at the moment. We haven't said anything concrete people are scared.

They sold hands some of the price drop, but again, not the entire price drop was due to just ripple related stuff. So what else? Well, top Korean banks are top Korean banks announced pilot program that there was going to be experimenting and using report that was a big deal. Just in general more exchanges started using it for more exchanges adopted it adopted it for that just made people get more excited that it's more widespread now just within the cryptocurrency scene. And another thing was that the bitcoin price tumbled. There were several reasons why it tumbled and I've sort of covered that in an update video as well like the last update video, and so Bitcoin tumbled the price went down and people started looking to old coins ripple being one of them another popular one was t r x which is Tron no relation to the movie.

I love that film. And Nova popular one was actually And M which is stellar or really exactly lumens as what the Queen the currency the token is called and a bunch of others as well. So the Bitcoin tumbler just made people go to old coins rape was already do well for the 3.2 report and that price went up a knot and actually no thing I want to mention is the fact that it during all of this it became the second largest largest cryptocurrency based on market cap it actually overtook effect, okay, fear him. If gone down since you know, he has been doing very well in the past few days. And most of the coins have been doing well not so well. And he was just one behind the Big Daddy itself Bitcoin.

So that was just a little that was crazy that Through this little coin that wasn't even $4 yet, was obviously they had more coins hands on the higher market cap, but it did overtake aetherium for a few days. Also, what drove the price was a lot of media attention. And it was linked to all of these other factors that the price was going up exponentially. It had increased market value, more companies were adopting it. Therefore, people were praying, you know, more money into it going away from conventional coins, such as Bitcoin and ether at the time, and it's just gone and more media attention. Once he gets more major attention, more people see it.

More people think it's a better system where it is or isn't. That's not what we're saying. And people started putting money into it. And the other last thing I want to cover again, like I said, this is just a select list. There's a lot more reasons why went up, feel free to Google them, feel free to reach out but the last On TechCrunch so the TechCrunch founder Michael orientem Miko oring term launched 100 million dollar crypto fund in x Rp 100 million dollars worth in x RP is a huge gamble he has said himself have this really helped solidify the sort of foundation for investor this more time retail investors or larger investors Wiles in thinking that XRP ripple is a good buy. So this has just been a quick update for the ninth of January 2018 on ripple.

If you have any questions, feel free to reach out. And as usual, thank you for watching and I look forward to seeing you in my next video.