Hellow guys,
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 $7 billion. Ripple claims that there were more than $11 billion worth of transactions in the second quarter of 2017. Currently, it is listed on 30 exchanges.
Predictions For 2018
– Looking at the latest developments and increasing interest towards the XRP, by the end of 2018, the Ripple price is expected to cross the $2 barrier at least.
– Trading Volume of XRP is nowhere close to the most popular cryptocurrencies, BTC and ETH. Trading volume is expected to grow in 2018, and a rise in speculative activity on the Ripple cryptocurrency can even raise its prices to $2-$5 mark as well.
– Though the overall price of XRP is expected to witness an upsurge, not all months of 2018 will be the same. A lot of cryptocurrency enthusiasts don’t like the idea of banks or any financial institution or a company regulating the cryptocurrency. In the long run and as long as banks exist, XRP is likely to prove as a solid investment, but its prices can see a downward trend in some of the months.
Thank you!
Operations 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
Thank you!