What is Ripple?
Ripple is a payment protocol created as a globally shared settlement system for financial institutes. Ripple was initially published in 2012. The system uses the XRP cryptocurrency.
The company claims that this XRP cryptocurrency is an entirely detached entity. The main aim of Ripple is to replace the conventional SWIFT payments system which is being used since 1973.
Why Ripple?
As ripple aims to replace the swift payments system, it’s much more secure, quicker and efficient for the existing financial institutes.
Ripple competitors
The competitors for ripple can be categorized into two. Blockchain-based institutional settlement system and non-blockchain institutional settlement system. Let us list out the most important competitors based on this:
- SWIFT
- Stellar
- Streami
- Nano
- Bloom Solutions
Ripple assets and liabilities
Let us view the assets and liabilities of ripple based on the decentralization features of blockchain technology.
Assets:
- Use cases
Ripple has been proved useful for many platforms, mainly for cheaper and faster cross border payments.
- Partnerships
Ripple already has powerful partner institutions using their xRapid technology. Most famous ones are:
- Euro Exim Bank
- Bank of America
- FTCS
- American Express
- GMT
- Connect pay
- BFC Bahrain
- WorldCom Finance
- J.P. Morgan
- Blockchain competence
Ripple states that ripple’s network will be able to do 1500 transactions per second. Ripple is on the path to being the standard in the fintech industry.
Liabilities:
- Regulation
Ripple claims that the cryptocurrency XPR is not a security while this has yet to be verified by the US Securities and Exchange Commission.
- Centralization
Ripple is not decentralization-based even though it relies on blockchain technologies. In the blockchain industry, ripple is one of the most centralized projects.
Top 4 ripple price predictions
1. Investinghaven
After an extensive fundamental analysis of Ripple’s recent actions and transactions and its partners, the conclusion was a highly positive possible price movement. During the time of writing, Investinghaven revealed that XRP had hardly any sellers left below $0.42 and the price of XRP could reach $20.0. Even so, ever since that, XRP has dropped to today’s $0.30.
2. Coinswitch
Coinswitch claims that there are few upgrades to be implemented in 2019 that could make Ripple climb the charts towards the end of this year. They mentioned that ripple has the ability to hit $1.0 by the fall of 2019. As for 2020, based on a sequence of third-party analysis, Coinswitch predicts that XRP’s average value would be around $1.50. Major companies like American express and Lian Lian Group might be officially linked to Ripple in order to accomplish Chinese card payments.
3. Investing
Investing.com, after a thorough analysis online gave us the price prediction of XRP as somewhere around $0.6 by December 2019. Moreover, the analysis states that during the spring of 2020, XRP may achieve $9 with the help of its partners and payment protocol. It also includes that towards the fall of 2020 the price may again go down and settle between $6.50 and $7.50.
4. U.today
U.today discusses whether or not ripple can reach the price of $10.0 per coin by the end of 2019. They published an article in which they quoted some sources that predicted different prices at the fall of this year and during 2020:
- Fxstreet and express.co.uk – assuming that ripple is one among the best investments of the year, its price might reach somewhere in the range of $3.0 to $5.0 by the end of 2019.
- Ripple coin news – $8 to $10 based on the support from upcoming partnerships.
- UsLifted – around $22.79.
- The Economic forecast agency – $0.32 in 2019.
According to them, they offer a potential ROI of 17x that of the investment.
Editor’s Note: Before investing in any cryptocurrency, always conduct your own research beforehand. Cryptocurrency values tend to fluctuate constantly and don’t invest more than you are ready to lose.
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