XRP is the native digital assets for the Ripple payment protocol, used by other Ripple products to facilitate cross-border and inter-bank exchange rates. The cryptocurrency was first released by "OpenCoin" back in 2012, followed by the company being referred back to Ripple Labs in 2015.
A common misconception is that the words Ripple and XRP are synonymous — they are not, despite how CoinMarketCap and many cryptocurrency exchanges mention cryptocurrency. Instead, Ripple is a digital payment protocol that can be used to transfer cryptocurrencies, including XRP.
After generating one of the highest ROI of all time for ICO investors, the industry cites XRP as one of the biggest success stories. However, will XRP return to its former glory, or will it crash and burn like so many others? We will examine the possibilities below!
Regular Price Predictions for XRP
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By the end of Q3 2019, it is clear that XRP did not perform well this year. Predicting a significant price recovery in Q2, XRP slowed throughout the year, falling from an initial entry price of $ 0.36, down to the current value of $ 0.262.
Looking at price action in Q3, we can see that XRP appears to be forming a downward wedge, after starting a significant dip in June.
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If XRP continues on its current path, it could reach a new low for 2019 - possibly landing below $ 0.25 for the first time since late 2017. If that happens, it is likely to trigger a wave of the FUD to at least temporarily send a price collapse.
Basic Analysis
Like any cryptocurrency, its fundamental fundamentals are absolutely critical to its long-term success. Unfortunately, Ripple’s XRP cryptocurrency is as secure as it comes to this department, and it has a strong reputation built on success and innovation.
However, as a centralized cryptocurrency that operates an authorized blockchain, there are concerns about the long-term desire of the project.
Use Case
The case of using XRP is highly promising - allowing individuals, companies, and global financial institutions to send money between countries almost immediately and at low cost.
To help cross-border payments as simple, secure, and fast as possible, Ripple offers three key products to institutional and bank clients:
xRapid: A liquidity solution that uses RippleNet to provide on-demand liquidity to banks and other payment providers. XRapid can reduce the cost of cross-border transactions by up to 70%, which may be why more than 20 partners are already working on the technology, including Euro Exim Bank, Bitstamp, and.
xVia: Used as a portfolio management system for sending money to developing economies without complicated bureaucracy issues. XVia is an important tool that financial institutions can access to use RippleNet. xCurrent: A solution used for instant transaction settlement and end-to-end tracking of payments.
XCurrent consists of a simple API for exchanging messages between banks. It also includes a validator module for cryptographically confirming the success or failure of a payment.
These solutions make it easy for payment providers to securely transfer value - this is the main purpose of XRP cryptocurrency. Understandably, this has led to significant price gains for XRP, as acquiring on-board banks with cryptocurrency has always been seen as one of the key steps towards global adoption.
Main Opponent
Transactions performed on XRP typically take at least five to seven seconds. It is much faster than most cryptocurrencies, making it suitable for interpersonal transfers as well as remittance payments.
Because of this speed, XRP can be said to be competing with other high-speed cryptocurrencies, including NANO, Stellar (XLM) and IOTA. Currently, XRP is somewhat faster than both NANO and IOTA but slightly sidelined XLM. Compared to the ~ 10 minute confirmation time provided by Bitcoin (BTC), XRP is faster.
