Right after the 2018 bear market, which had plenty of deep drop offs, a lot of people have started to wonder which cryptocurrencies are going to survive this. This area is filled with immaturity, scams and even manipulation, but there are some blockchain businesses that are useful and serious. Ripple is one of these businesses. There isn’t a shortage of options out there, but when it comes to what coin is going to be useful and valuable, then you know that Ripple will see a lot of potential for growth and usage.
XRP and Ripple
XRP is a cryptocurrency that was developed by Ripple Labs and they are known for a protocol that allows global money transactions. The main goal is to replace current systems that are used by banks to receive and send varying amounts of money globally quicker, more efficiently, and cheaper. Ripple has made 3 products. They have xVia, xCurrent, and xRapid. The thing is that xRapid only runs using XRP, while xVia and xCurrent that speed up and smooth out transactions until all three are merged into a single program.
Based on research there is an estimated value of $2.2 trillion by 2020 for global payment industries. That is a lot of growth. The market is going to continue to grow and it is going to provide plenty of opportunities for profits without the help of the technology that Ripple has started to provide to the cryptocurrency industry.
Right now, Ripple is busy uniting businesses, banks, and people by creating a speedy and stable network that will benefit both employer and employee when it comes to handling smaller amounts of money, but also act as a central bank which hopes to work in larger amounts for transactions or even private investors who want to move millions easily. Ripple has been really focused with going into partnership with the big guns like huge banks such as PNC and Central Banks as well as American Express and even Visa.
There are agreements along with partnerships with banks in the United Arab Emirates as well as others in Saudi Arabia like the National Bank of Kuwait. Ripple is looking to serve very large areas that have a lot of migrant workers like the Middle East. This technology will be very effective when it comes to aiding personal and business transactions. Common workers and the wealthy can benefit with the plans Ripple has.
Touching the Clouds
XRP has passed Ethereum on several occasions and it could go much higher, especially if international businesses begin to use XRP. Ripple has outperformed and the value is relative to the all time high when compared to major cryptocurrencies. This can cause most to expect that the digital asset to be $1 in the future. When it comes to long-term, XRP is showing that there is an opportunity to multiply in price at the current rate. Even with a market cap that is under $15 billion, Ripple has plenty of growth potential and it is going to give Bitcoin a run for its money, which means that on the next bull run, XRP could be around $5.