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.
See links below:
Binance announces New XRP trading Pairs and Quote Currency
Ripple to take over swift banking network
American express using xCurrent
Bitcoin is the religion, but Ripple (XRP) would pack higher return (Forbes)