Ripple has been garnering a lot of attention in the cryptocurrency world. Just like other cryptocurrencies, Ripple’s cryptocurrency, XRP also uses the blockchain technology. However, unlike other cryptocurrencies, it is regulated and facilitates fund transfer for banks. Ripple has seen a surge of 4000% in the first half of 2017. Today, the market cap of Ripple is more than $100 billion. Ripple claims that there was more than $11 billion worth of transactions in the second quarter of 2017.
Ripple is working with some of the biggest financial institutions around the world. Ripple aims to power the whole financial sector by making instant transactions possible at a fraction of the current costs. It provides a frictionless experience for global fund transfer using the blockchain technology. In future, it is expected to act as a liquidity solution for the cross-border transactions. Banks and Payment Providers can use XRP to settle multi-currency transactions to minimize the overheads. Right now, SWIFT facilitates most of the international payment transfers.
Whenever we make any cross-border transaction, we need to provide the SWIFT code of the branch of the bank. SWIFT has a monopoly over cross-border settlements. It has more than 11,000 financial institutions and 200 countries on its network. Ripple is associating with big financial institutions and working with many banks to incorporate its blockchain technology. It’s hard to say how soon or whether Ripple will be able to take SWIFT down or not. However, it can indeed break the monopoly of SWIFT over the international fund transfer.
Ripple can process 1500 transactions per second, which is huge as compared to Bitcoin. Bitcoins can handle up to 7 transactions per second. Ripple’s technology is powerful enough to replace international payment systems such as VISA while reducing the cost and allow instant transfers.
A large number of banks from around the world are actively working with Ripple to implement its technology over their payment infrastructure. It makes Ripple trustworthy, and investors find XRP to be a comparatively safer bet as compared to other cryptocurrencies.
Cryptocurrencies performance during 2017 will be a determining factor in their demand in 2018. 2017 saw the price of XRP surging rapidly during the first half. Other cryptocurrencies won’t find it easy to copy the market development of Ripple. Investors interested in the digital currencies as a haven for the uncertain times will find Ripple as a promising candidate.
Bitcoin and Ethereum are the most traded cryptocurrencies. A large percentage of cryptocurrency traders and investors are still not familiar with Ripple despite its promising technology. Once, a few institutional investors join the network and Ripple permeates the mainstream investor’s community like Bitcoin and Ethereum, an influx of trend followers can make the XRP prices shoot through the roof.
If you want to invest in Ripple, XRP as a long-term investment that you would like to hold for years to come, Ripple seems to be a promising investment. A paradigm shift is happening, and we are moving towards digitization of all currency. In the world where money exists in the digital ledger of banks, cryptocurrencies like Ripple have a special place as they are not anti-bank in nature like many other cryptocurrencies.
Instead, they are developed to let the banks utilize the evolving blockchain technology. If you want to invest in XRP for quick gains within a few months to a year, it seems promising. In 2018, it is expected to see a sharp upsurge in prices. It is projected to cross the one dollar mark at the very least. With a promising financial technology for future and growing network of banks, Ripple’s cryptocurrency looks like a promising long-term investment. With more investors becoming aware of XRP and a growing awareness towards its technology, XRP’s prices are expected to rise in 2018. In the first half of 2017, XRP’s price surged up to 4000%.
As the trading volume of this cryptocurrency is nowhere near the most popular cryptocurrencies, BTC and ETH, it is expected to witness at least one-fourth or half the spike as seen in 2017. Click here to create an account at Coin Jolt to buy, sell or invest in Ripple XRP. Ripple is a payment system, but it's a specific type of payment system, where Bitcoin was created because of the economic crash in 2008, Ripple was created specifically for banks. In order to get Bitcoin, you have to have a sophisticated computer to run these calculations that pass through the network to solve algorithms that will reward you with Bitcoin.
Ripple does not do that, all of the XRP that will be is already in the world right now. You've done bank transfers, you've sent money somewhere, and one of the most annoying things is, which surely has happened to someone you know, is that it took 2-3 business days. What happens when you send money on Friday? Well you probably won't get the money until Tuesday, because Friday closes early, then there's Saturday and Sunday, and then you also have Monday, which is finally one of the business days, and then you have Tuesday which is the second business day. We've all had it happen and it can be frustrating.
It can actually be quicker to send money between banks by putting money in your pocket, getting into a boat or plane and going into that other country or that other city and just handing it to the other person. What Ripple aims to do is cut down that duration from 2-3 days to about 6 seconds, and they have been doing so very well.
If you Google or do a search for Ripple, and Ripple Labs, you'll find out more about them, as we always say, do your own research. A lot of people don't care about Ripple XRP, because Ripple XRP is pre-mined, meaning you can't do hash mining on your computer to get free Ripple, all of the Ripple that's there, is already out there, so people are calling it a scam coin. The point of Ripple is to have payments between banks the same way they're already doing it, but just for a quicker way. It's this process but broken down into tokens called XRP so that you can send money quicker.
Ripple is here to stay, with over 100 billion Ripple that is out there, at any given day there are around 33 billion Ripple that is being traded back and forth, even less than that because the people that own Ripple or have invested in Ripple aren't trading it. Imagine having 1000 Bitcoin and you see the price where it is now, and everyone is holding on tight because everyone knows something is coming.
When we first told potential investors about Ripple, the price was $0.006, so it was less than a penny. Meaning, if you put in a $1000, you would probably have around over 150,000 Ripple XRP, think about that. If you put around $5000, you would have 750,000 Ripple, which now is worth around $2.34 million dollars. When we opened our position in Ripple, prices were below $0.01, well, when prices reached $0.01, it just kept going up, and for those of you that don't understand basic math, if the price is at $0.01 and it hits $0.02, what happened? You've doubled your money. If it goes from $0.02 to $0.04, you've doubled your money again. If it goes from $0.04 to $0.08, you've doubled your money again.
Ripple is now at $3.24, so if you've invested early, you made huge profits. Even at $3.24 right now, there's nothing that says it won't hit $20.00 eventually, within the near future. Because what they're doing is since there's 100 billion Ripple out there, with 33 billion potentially floating around each day, what they're doing to preserve the price is they put 60 billion Ripple XRP into Escrow and they're releasing a tiny fraction of them every month over the course of 5 years for other investments.
So if they release 3 billion and they only use 1.5 billion, then the 1.5 billion will then be put back into Escrow at the end of 5 years so they won't be able to touch them for another 5 years, which is great, because what does that mean? The price is going to go absolutely insane. When you have 100 billion of something and people are on the edge of their seats, because all it takes is for the people that own Ripple to sell off 70 billion coins and the price collapses, Imagine if you had all of the gold in the world, if you took 70% of it and put it away and we're not going to touch it for 5 years. What do you think logically would happen to the price of gold. Exactly.
The price is going to go up. In comparison to the price Bitcoin and Ethereum, with what these currencies can do and who they are being used by, what discussions are being had, future projects in development, we believe that Ripple is worth $20 a coin and there's a lot of factors for this. There is a very large number of banks around the world, and if you search on Google, "banks using Ripple," there are around 40 banks in Japan alone that use the currency.
Think about that, why would these banks use something if they didn't need it? Banks are heavily invested in Ripple and there is no way they are going to let Ripple fall. Currently, there are over 100 banks that use Ripple, which provides clarity to investors. People aren't dropping Ripple, they are buying and holding them.
The 3 large players in the space are Bitcoin, Ethereum, and Ripple. These are the 3 digital currencies that are going to make it long term. Bitcoin has the name which is never going to die, even if it has slow transaction times, it's already widely adopted. We think Ethereum is at the top of all cryptocurrencies, but since Ripple is being used by banks and the main point of a bank is to profit, these banks will not let Ripple die, especially once they have them integrated with their systems. There is still a lot of money to be made.
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