March in Review: Ripple (XRP) Taking Over The Baton From Bitcoin (BTC)?
Ripple (XRP)'s value over the last one year has soared, with many crypto specialists tipping that XRP will catch up with Bitcoin (BTC), some years from now. But, do you think, it can rule the crypto-world just like Bitcoin, and how high its price go?
Ripple (XRP)’s value over the last one year has soared, with many crypto specialists tipping that XRP will catch up with Bitcoin (BTC), some years from now. But, do you think, it can rule the crypto-world just like Bitcoin, and how high its price go?
The Fall of Bitcoin
Unveiled in 2009, Bitcoin will invariably be the godfather of the crypto-world. Because this currency practically endorsed the concept of decentralization. From being just one then to thousands of digital currencies today, Bitcoin is the reason for the global possibilities of the digital currency. Ironically, in the recent times, Bitcoin is encountering a tremendous downtrend.
This year, Bitcoin crumbled to another low with its value gone below the $7000 in the month of February. Since, January, the value of Bitcoin is only witnessing a dripping. And, this has inflamed the conversations that “XRP currency is the next Bitcoin.”
What Is Ripple XRP All About?
Launched by the Ripple Company in 2012, Ripple is an RTGS stands for real-time gross settlement system, remittance, and electronic currency exchange network. This currency assures a safe and secure global low-cost transaction medium with no barriers and no chargebacks.
The Current State of Ripple
As per the last update- in the last week of March, Ripple is the third largest currency in terms of market capitalization. However, when it comes to market value, it is still below $1, ($0.572828) as of March the 28th. And, there is a section of the crowd who believe Ripple has taken over the baton from Bitcoin.
In the pursuit of proposing the future of the crypto ecosystem the analysts, the investors, and the traders are declaring Ripple as the future of cryptocurrency when the Bitcoin is experiencing a slight downswing.
Well, Ripple is one such electronic currency, which in the last one or two years has developed massive partnerships and is triumphing over the trust of investors.
The Price Predictions of XRP for 2018
As per recent reports published in many top digital currency journals, the industry veterans predict XRP currency in the coming time will witness a steady price surge.
If you take a tour of the prices of Ripple within 2017, you realize that its market value has augmented by over 28000%. Recently, many leading banks and financial institutions are considering the implementation of Ripple to speed up their payment processing model. Thus, making Ripple contribution so valuable in today’s digital world.
The latest report by a group of crypto aficionados by Finder.com predicted Ripple will be second in the list of cryptocurrencies at the end of 2018, overtaking Ethrueum. It also expected that Ripple will worth $5 by December 31, 2018. The cryptocurrency is one of the few that are constantly finding novel ways to develop real-world use cases.
Banks, several payment providers, and a host of digital asset exchanges are using xCurrent, xRapid, and xVia. All these products help them to process and provide liquidity for various payments facilitated by Ripplenet. These initiatives create new and competitive ways of sending payments across borders.
One constant rumor that can’t seem to go away, and which could yet be the biggest, concerns an Amazon-Ripple partnership. The rumor gathered speed in November 2017, when Ripple hosted a conference presentation and displayed a slide that appeared to show Amazon, Uber, and Seagate as prime examples of companies that could use Ripple’s xVia platform.
Though no one from either camp has ever publicly confirmed the discussion, a wave of events indicates that it is a definite possibility.
The Ripple Managing Director spoke about how a multinational like Western Union could be a great customer or partner of Ripple going forward. And it’s easy to see why this would be a coup in terms of partnerships. Western Union is an established payments provider around the world. If and when it happens, it would be akin to Ripple firing the first warning shot at competitors regarding its intentions for global financial payments.
Earlier this month, Ripple announced that they had secured the services of former Bloomberg TV presenter Corby Johnson. He was coming on board as a chief marketing strategist to help sell Ripple to multinationals and investors. That was a major statement by Ripple in its bid to step up the adoption of Ripple platform and the native XRP currency.
Presently, it is too early to say Ripple (XRP) currency will outdistance Bitcoin (BTC), but things are looking good on the whole for its bright prospects.
Did you agree, Ripple will script a success story in the aura of electronic currency?