We look at Ripple’s recent growth and predictions for its future.
Ripple’s cryptocurrency price is up by 6.5%. This is a massive upswing for a relatively new cryptocurrency. Despite its size, Ripple has remained in the top 5 of the cryptocurrency charts. This is due to to the fact that Ripple has broken the mold in terms of what a cryptocurrency can be.
A quick intro to Ripple
Ripple is a different kind of cryptocurrency, and in many ways isn’t really like a cryptocurrency at all. Ripple claims that their blockchain is the most advanced one to date. This blockchain is called RippleNet. Instead of just connecting users from the around the world, this network connects banks, payment providers, digital asset exchanges and corporations. It aims to create a fast, seamless online payments system.
Using Ripple incurs far lower transaction fees and far quicker transaction times than doing international money transfers via a bank. RippleNet’s cryptocurrency XPR is predominantly used to pay for transactions on the RippleNet blockchain. It’s currently sitting around 0.70 XPR/USD. The reason it has a cryptocurrency is that it makes it easier to calculate and manage transaction fees in XPR on both sides than to have to constantly navigate Foreign Exchange rates. Most Ripple cryptocurrency predictions are favourable.
What’s behind its recent rise?
Ripple has recently partnered with one of China’s biggest international banks, LianLian International. They will be joining the Ripple Network opening up their markets to untold new markets. Ripple aims to eventually be the first word in digital, cross-border transactions in the United States, Europe and China. Getting LianLian onboard has definitely gotten them closer to their goal. As Ripple CEO Brad Garlinghouse tweeted they have “just opened the door to the largest e-commerce market in the world.”
LianLian International CEO Arthur Zhu stated: “With RippleNet, we will further enhance that experience and increase our market share by offering customers instant, blockchain powered payments across the 19 currencies that we currently support. We look forward to working with Ripple to power payment flows between China and RippleNet members in new markets.”
Ripple has started to see support from major financial players and this is making their rise as the number one network for international payments even more secure. This would make it a good idea to look into buying cryptocurrency, Ripple.
Ripple cryptocurrency predictions
Ripple may reach between $5 and $7 by the end of 2018. It could even climb to $10 if other coins start regaining value as they have been since the recent Ripple and cryptocurrency news concerning regulations in America.
It’s predicted that Ripple’s superior technology will convince banks to perhaps abandon their current go-to payment system SWIFT in favour of RippleNet. This will make Ripple more accessible to public investors and therefore will increase its adoption rate.
If Ripple does become the de facto payment processor for banks there are those that predict that in the next 3 years, it could even hit the $20 mark.If you buy Ripple cryptocurrency now you could be looking at a nice profit by the end of 2018, and an even larger one if you are prepared to wait.
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