Xrp could be the next age of Cryptocurrency

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  • XRP Ripple could be the next age of the banking system overtaking bitcoin

When it comes to the term “cryptocurrency.” most of us will probably immediately think of Bitcoin. But the truth of the matter is that there are hundreds upon hundreds of coins out there at our disposal. One of these is XRP, a digital coin utilized within a network called Ripple. This particular network has been known to be used by banks and financial institutions like money gram and western union unlike other cryptocurrency which are limited to a wallet.

An Introduction To Ripple

Ripple is a network designed to make overseas transactions much faster and much more secure and efficient. This real time gross settlement system (RTGS) is also a crypto exchange and remittance network in and of itself and supports the use of tokens as a representation of fiat currencies, other cryptocurrencies or even other commodities like mobile credit and air miles. This is conducted on a shared, public ledger database that not only ensures the security of transactions but speed and efficiency too. For this reason, leading banks from across the globe, including Santander and UBS, are starting to pick up this technology and introduce it into projects and developments within their services.

For this reason, Ripple doesn’t necessarily fit into the “cryptocurrency” umbrella quite as neatly as the likes of Bitcoin. The ledger utilizes the same technology and does have its own coins and tokens as part of the network, but whether the value will ever rise above Bitcoin could be down to a matter of popularity beyond just these institutions and into smaller businesses too.

The $7 Goal

With the above in mind, it’s easy to see how Ripple has earned its stripes as a leading cryptocurrency, but could it truly ever grow bigger than Bitcoin? Well, experts suggest that this could very much be possible with just a small rise in the overall prices of Ripple.

In fact, XRP would only need to rise to around $7 per coin in order to steal Bitcoin’s leading crown. Given that a single bitcoin is worth upwards of $7,000 at time of writing, you’d be forgiven for wondering just how this is possible. Well, the answer is in market capitalization. Ripple is currently worth just $0.410746 which is certainly a world away from Bitcoin, but its total market cap is an impressive $16,142,261,452. Bitcoin’s is certainly higher at $121,393,013,639, but a simple rise in Ripple’s price could mean that it’s 39,299,874,590 coins would quickly drive up the market cap and put it high above Bitcoin. Is this likely? Volatility makes it difficult to tell, but the potential is always there in cryptocurrency.

The Bank Adopting Ripple

While banks are adopting ripple technology,much of the network they are utilizing doesn’t actually need XRP in order to function. For this reason, while Ripple, as a cryptocurrency, is often advertised alongside the banks apparently utilizing the coins, this isn’t always true. For this reason, it could be down to smaller, innovative companies picking up these technologies in order to bring about the vital market cap rise that ripple would so desperately need in order to exceed expectations.

Whether Ripple stands a chance at towering over Bitcoin could be a matter of watching the markets in the near future. As knowledge and interest grow in cryptocurrencies, the safe and arguably more stable nature of Ripple could lead more and more businesses to try and utilize its technology in the future and invest in its coins.

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Comments

I had my investments in XRP around 2 years ago. It never moved much and it is doing the same now also. Hope it moves soon

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4 years ago

This is because nobody actually looked into it. With the world economy turning in a digital world. With countries like US, UK and china having a digital currency. Xrp is going for a top flight

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4 years ago

Yeah and with partnerships with money gram it grew its reputation. But do you think stellar lumens with also boost?

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4 years ago

Stellar is currently used a shadow of digital dollar. It is exactly $1, I don't think it would have a boost expect the structure is changed

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4 years ago

Aha. Thanks for your insight. Bit as you said in your article, crypto is always very unpredictable.

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4 years ago

Thanks for sharing this article... I was really contemplating on xrp and if I should invest in it or not but with this I have been set on the right direction..

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4 years ago

I am glad you found this interesting. In my next article I will explain why the Federal Reserve needs XRP so badly and how important it is to US

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4 years ago

While is far and hard to dethrone Bitcoin, XRP does have an interesting future. Thanks for the insight.

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4 years ago

Nice article and it now time to turn my attention to Xrp and start to do investment from there. Thanks for sharing

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4 years ago