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Ripple Retreats as Coinbase Denies New Coin Listing Rumors

07 January 2018

Jed McCaleb, who co-founded Ripple with Larsen but left the company in 2013 and later founded Stellar, reportedly owns the rights to 5.3 billion XRP - worth more than $20.3 billion. Bitcoin, however, is constantly being created until it reaches a pre-set limit of 21 million coins; this limit is not expected to be reached until around the year 2140. Just three weeks ago the token was trading for less than a dollar.

Ripple co-founder Chris Larsen may have entered the top 10 World's richest person list at position 8 according to reports. Bitcoin's creator is now unknown. Still, though Ripple needs a lot of stars to align to become a major currency player used by big banks, one analyst writes for Medium that he expects the company to keep doing well, since "this is crypto, and everyone in the industry is now slinging crack crypto cocaine to retail addicts". At Friday's prices, his holdings could be worth over $14 billion - so long as he could find a way to sell. Alright for some, isn't it?

But, as bitcoin rocketed from $1,000 to nearly $20,000 per coin, Ripple started 2017 at a more conservative $0.007 and in the first week of 2018 tore past $3.60. Not us, so don't take our advice.

The Ripple cryptocurrency is a product of a startup called Ripple Labs, which began life in San Francisco in 2012 and was originally called OpenCoin.

Riding the wave of increased anticipation in regards to a possible Coinbase listing, Ripple's recent price surges saw the cryptocurrency recording massive gains of more than 40,000% during 2017. Money is also moving into Ether, which earlier broke through $1K for the first time ever (currently at $989). And the next two days, the value price crossed past $1,000.