Ripple is two things: cryptocurrency ( known as XRP ) and an open payment system for banks. XRP remains a strong liquidity solution for real-time, low – cost transfers through cryptocurrencies and fiat markets, as well as a solid investment option.
Will Ripple rise in value?
While some experts predict lower profits, from five dollars to less than 1, based on their strong growth on both their platform and across the financial and investment sectors, Ripple remains a good investment in the short term.
Other experts predict that XRP will reach 20 dollars by 2020, depending on the success and widespread adoption of Ripple as an international trading tool. In addition to its objectives to reduce the cost of international financial transactions, ripple works with financial giants such as the American Express and Bank of America, all of which contribute to the uncertain future value of the currency. Forecasts for a five – year decline may also be due to the general instability of the current crypto market, particularly for bitcoins.
Ripple used by Financial Institutions
Ripple as a cryptocurrency is used by more than 150 bank customers to help fund transfers through the Ripple financial and banking network around the world through DLT ( distributed ledger technology ).
XRP was never designed to catch Bitcoin but was designed to become a catalyst between traditional banking and global cryptocurrency between countries on a peer – to – peer network. Other key financial indicators of the wavy growth movement are investments by major banking institutions such as MUFG Bank of Japan, which joined forces with Banco Bradesco in Brazil to create international payments among customers using wave technology.
One of Silicon Valley’s most valuable private companies, Ripple has an ambitious plan to contribute to the 2 trillion dollar – dollar across borders. The confusion around the Ripple is guaranteed – the start-up payment company owns 60 percent of the existing XRP. In the case of payments between the united states and Mexico, Ripple says that financial institutions using Xrapid have seen a 40 – 70 % savings compared to what they usually pay for forex brokers.
Messari Ryan Selkis, CEO of Messari Ryan Selkis, who is an early cryptocurrency investor and vocal Ripple critic, said the company as a free-standing software company is “really good “, and their information is about as transparent as it is in crypto. In addition, many financial institutions use the Ripple protocol to transfer money from one part of the world to another. Ripple – XRP is a free software – based project designed to develop a credit system based on the end – to – end paradigm.
In addition to being one of the most reputable digital tokens out there – even competing for a second place in the market share, behind Bitcoin, with options such as Dash, Litecoin and Ethereum – it is also one of the most efficient payment networks in the world.
Opencoin has begun the development phase of a new payment Protocol, called the Ripple Transaction Protocol ( RTXP ), using Fugger’s ideas, mainly the immediate transfer of money between two parties.
Garlinghouse said that he believes that the growing value of Ripple tokens is justified, taking into account the growth of the company and the size of the foreign exchange markets that Ripple intends to address.
XRP attracted the anger of Bitcoin fans, because Ripple has greater central authority in the Garlinghouse company, even if the software is open source.
However, even virtual currencies analysts who believe in the software of Ripple have said that there is a big difference between the successful development of the company and the fact that the token is gaining enough traction to justify the current prices.
Is XRP Decentralized?
XRP is owned and operated by OpenCoin or the Ripple Labs, while Bitcoin is a decentralized system in which there are no central authorities. Experts agree on this idea, given the popularity of the network, a well – designed platform, which invests interest and penetration in the media and mainstream society and XRP is expected to grow in the short, medium and long term.
Based on current forecasts, most people in the company agree that the value of the XRP can rise to the 200 US dollar range in ten years. To sum up, not only is Ripple – XRP one of the industry’s most relevant payment and exchange networks, but it is also a prominent cryptocurrency in a world full of them. There is still some room for wrinkle – XRP, but the meteoric rise as seen at the end of 2017 will of course be few and far between, and it is safe to assume that price changes will take place in more sustainable ranges.
In order for the Ripple – XRP price to grow significantly, banks must use XRP to carry out international transfers on behalf of individuals. In total, more than 100 financial institutions are now using the “ripple” protocol to transfer money.