Reasons Why Ripple (XRP) Won’t Stay Under $1 for Long
Ever since its launch, Ripple (XRP) has focused immensely on dominating the financial industry and cryptocurrency exchange. Results have been astonishing, with many referring to Ripple as the standard for cryptocurrency exchange.
Ripple has announced that it is currently working with 40 to 50 of the world’s central banks. If the claim of Ripple is true, then working with 25% of the world’s central banks is sure to guarantee, a future for Ripple.
Knowing that all commercial banks in a country are influenced by their respective central banks, one would have to acknowledge the brilliant move Ripple is making in partnering with Central banks. In reality, Ripple has also indirectly targeted the rest of the banks in those countries. Way to go Ripple!
Ripple is Working on Better Transaction Time
Over the years, transaction times with blockchain technology has been greatly improved. A typical transaction on Ripple takes about 3-4 seconds to be completed, super-fast, right? Ripple is working on a new network COBALT, that will substantially reduce transaction time to a lightning quick 1 second.
When COBALT is completed, it will create a more secure network for Ripple to run on. Ripple also announced that COBALT will further decentralize the ledger system of Ripple. Since getting a listing on Coinbase requires that the coin is decentralized, one would expect a Ripple listing on Coinbase after COBALT.
Ripple Renounces Interests in ICO
The XRP ledger is the best and among the most efficient distributed database ever made. The XRP ledger is an open-source and decentralized platform, which means people can build whatever they want on the platform, and that includes launching crypto tokens on the ledger.
A small group of coders is currently seeking to be among the first to do it, acknowledging that Ripple’s XRP ledger is the best place to do it. However, in a press release made by Ripple’s spokesman, it turns out that Ripple is not interested in supporting or Promoting any ICO on the XRP ledger. It was also made clear that Ripple’s main selling point is its speed.
Ripple Hits Canada
Ripple is finally in Canada courtesy of CoinField Exchange. The news of Ripple’s listing on CoinField, Canada’s most advanced trading platform hit the net today. Ripple is now officially listed on CoinField with both XRP/CAD and XRP/USD trading pairs.
At the fall of March, Ripple’s got its first pairing with the Great Britain Pound (GBP) from London Block Exchange (LBX).
Market Performance of Ripple
Ripple Inc. has performed better in partnerships, and growing the company than the XRP’s performance in the market. The Ripple coin continues to suffer daily decline which started in February.
As at the time of this writing, Ripple (XRP) is down by 4.3% and is trading around $0.47 (USD) apiece. Ripple, however, continues to maintain its 3rd position with an estimated market cap of $18.36 Billion (USD). The performance of the Ripple team, partnerships and achievements won’t let the XRP stay under $1 for long.