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3 things you should know about Ripple XRP Cryptocurrency in 2018

Posted by : Siddharth Jalan on | Jun 29,2018

Currently trading at around $0.55, the Ripple coin (or XRP) is among the cheapest cryptocurrencies available for investors. As compared to Bitcoin, according to the current Ripple Price Prediction, it provides a higher ROI of 300% for investors should the digital coin reach its all-time high price of $3.30. For investors it XRP is showing momentum among the top performers, like Litecoin value rising and POE coin gaining prominence.

With a current market capitalisation of $27 billion, the Ripple digital currency ranks 3rd in the list of leading cryptocurrencies and is set to become the preferred payment processing system to replace the SWIFT payment system introduced in the year 1973.

If you are planning to invest in this fast-growing cryptocurrency, you should be aware of the following three major Ripple-related happenings in 2018.

Adoption by the Banking and financial industry
Among the largest global payment transfer companies, MoneyGram is adopting the XRP ledger in their payment flows. Additionally, Ripple has announced partnerships with Santander, SBI Holdings, and the China-based payment system, LianLian. The financial industry outlook for Ripple looks positive with over 100 financial players including banks and payment providers benefitting from Ripple’s blockchain-based solutions.

Thanks to its latest technology, Ripple can replace the traditional SWIFT system and become the preferred payment processor for banks. According to the U.S. Treasury, the SWIFT system facilitates a daily transfer of $5 trillion. The Ripple price is likely to touch the $20 mark if it manages to replace SWIFT as the de facto payment system.

Faster transactions
Designed to handle 1500 transactions per second, Ripple has a significant speed advantage over its nearest competitors like TRON (at 1000 transactions per second) and Bitcoin Cash (at just 60 transactions per second). While Ripple trails behind VISA (at 25000 transactions per second), it is designed to handle bank transfers and financial transactions at very high speeds.

Growth beyond the banking industry
While the Ripple cryptocurrency can be a real disruptor for the banking and financial industry, its potential as an effective tool is not restricted to these industry domains. E-commerce giants like Amazon can adopt Ripple thanks to its faster and cheaper transactions. According to cryptocurrency industry expert, coffee-serving brand, Starbucks could also be accepting Ripple coins as a mode of payment by the end of 2018.

The development of easy-to-use tools that enable simple XRP-based transactions through better user interfaces and lesser user confusion about long cryptocurrency wallets can go a long way in boosting the adoption and development of Ripple as a viable payment system.

With leading banks and other industry players increasing their adoption of this digital coin in 2018, Ripple can easily elevate its value to its all-time high price and even go beyond.

Along with the potential disruption of the banking and financial industry, the Ripple cryptocurrency offers a huge investment potential for cryptocurrency investors, particularly if financial institutions and payment providers approve Ripple as a viable payment system. With scalability becoming a key buzzword among cryptocurrencies in 2018, digital currencies that can achieve scalability will be the ones most primed for success.