One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.
XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.
Big Banks Back Ripple
Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.
The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole. This wide base of support by large institutional investors such as banks gives both Ripple, and extension XRP, a solid and stable base to grow in the future that many cryptocurrencies simply do not have.
Stellar is a trump card
Stellar is another blockchain platform that is consumer focused and was created by a co-founder of Ripple. It is a platform that allows banks to connect with users (such as individuals and businesses) without needing a middleman to process cross-border payments.
The systems can integrate into each other, and many industry leaders are convinced that the two platforms complement each other tremendously. Ripple handling the enterprise side and Stellar handling the consumer end of things. Both methods being cheaper and faster than using the traditional banking system.
This can lead to a future where almost all transactions are processed via the two blockchain platforms and this is will, in turn, increase both the supply and the demand for their respective currencies.
Traders liking XRP more and more
As evidenced by XRP briefly overtaking Ethereum as the second largest in market cap, the market has warmed to XRP and will continue backing it as long as it has solid business fundamentals under its belt. Since Ripple has been going from strength to strength, traders have been following it and have been demanding more and more XRP to fund that growth.
It is a commonly held view that many of the cryptocurrencies that we see today will eventually die out as they do not have a sustainable business model. Since Ripple can easily be interoperable with many other blockchains, particularly Stellar, there is very little chance of this happening to Ripple. The crypt spring is in full swing and with it comes a bull market. XRP will benefit immensely off of bullish trading, but ti will benefit even more with the greater adoption of blockchain tech in companies around the world.
This is what makes Ripple so good in 2019. It is poised to take advantage of both the trading end with XRP and the enterprise love shown recently. It is a truly stable, sustainable cryptocurrency.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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