Ripple is not so powerful brand like bitcoin, so there is no reason for it to be so expensive. I think there will be market correction during 1-2 week and the price will stay near $1 (but it's still to high for ripple)
I disagree, I think that the current price is more than justified. XRP has the best real-world use-case of any coin, and can transform international banking - the project has had years of development and years of working directly with banks. I do think there will be a correction, but long-term there is potential for much more of a price increase. $10 by end of 2018 is not unreasonable.