Ripple (XRP) – Despite this token being less popular than Bitcoin (BTC) to the average coin holder or newbie, the ripple (XRP) token is sure making waves around the cryptocurrency industry; with great partnerships (especially with top international banks), a great project, a reliable development team and offering great products cum crypto solutions (such as speedy transactions) which sum up the benchmark of a great crypto coin.
However, still not popular in our regular Nigerian crypto climate just as is every other altcoin; only the well informed and above average coin holders have a good knowledge of most alts and xrp.
What is XRP?
Ripple (XRP) is a payment protocol (digital currency and platform) which incorporates currency exchange and remittance networks. Launched in 2012 and created by US-based Ripple Labs Inc, the protocol was designed with an aim to allow fast and cheap crypto transactions.
Products: RippleNet – a network which allows banks and payment providers use the ripple platform to send money globally (across borders). xCurrent ( a payment processing system for banks), xRapid (allows financial institutions minimize liquidity using XRP as a platform from one fiat currency to another), xVia (allows businesses to send payments via RippleNet).
Ripple Inc and its coin holders uphold the following claims:
- 1000x times faster transaction time than Bitcoin.
- Best solution for cross-border payments.
- XRP enthusiasts term it the ‘new standard’ as they believe it may surpass Bitcoin (BTC) to become number one on coin market standings and valuation.
Here are a few arguments against XRP;
XRP is a security.
XRP is centralized. (About 60% of the total xrp coins ever available are held by the ripple network) as opposed to Bitcoin and other cryptocurrencies which are decentralized.
Predictions and Factors
Currently trading at $0.37 cents from its all-time high of $3 in January 2018, some analysts predict a huge bullish $10 price benchmark in 2019. These they opine is subject to the following pointers:
- Big structures for growth
- Best digital currency for cross border payments
- Big institutional and bank partnerships
- Recent listing of XRP as base trading pair on Binance
- A consistently growing community of enthusiasts, acceptance and holders.
- Expert views that following this year’s necessary correction of crypto prices, healthier growth and institutional adoption in the new year would fuel bullish growth.
NOTE: XRP overtook Ethereum (ETH) and Bitcoin Cash (BCH) amidst the bear market to currently seal second spot behind Bitcoin (BTC) on coinmarket rankings with a current cap of $15 billion as against Bitcoin’s $68 billion.
Also Noticeable, the last crypto wipe out of coin prices which saw Bitcoin hit a bottom price of ($3300) and alts lose double figures in prices; had Ripple (XRP) with the least percentage loss hence a strong statement of its fundamentals.
For most expert analysts despite questions raised on XRP’s centralized nature which they argue is opposed to crypto’s decentralized basics; they generally agree that the token posses huge potential in the long run, in terms of development, adoption and price mooning.
To this end, the token is predicted as a top choice token/coin for holders in 2019.
Do you hold XRP? What are your thoughts on this coin?
Opinions expressed are solely of the author, not a general expression of the BTC.ng team. This is in no way investment advise, always do your own research.
Up Next: Top coin performers of 2018, potential coin gainers of 2019.
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