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Ripple. Current Situation and Prospects of the Cryptocurrency

Author: Catherine Lysenko
31 July 2019, 09:04
Votes: 1

The Ripple altcoin is one of the headliners of the cryptocurrency market. But at the beginning of 2018, its value dropped significantly. What is the current situation and what to expect from the Ripple cryptocurrency in 2019?

Ripple. Current Situation and Prospects of the Cryptocurrency

Ripple (XRP) in not an independent cryptocurrency in the ordinary sense. This e-currency is rather a tool aimed at facilitating the banking sector operation. In simple terms, it is a platform for executing various international financial transactions within minimal time and with very low commissions. XRP, in turn, is the main tool of this platform, which enables these financial operations to be carried out. The main distinguishing feature of this digital currency is that Ripple isn’t a Blockchain technology.

In 2018, there was a rapid decline in the Ripple price. According to experts, the main reason for this was the result of market correction. If in January 2018, when the XRP’s value reached its maximum, the cryptocurrency market’s capitalization was $800 billion, now this amount does not exceed $20 billion.

Most likely, the main reason for the Ripple’s substantial depreciation is the XRP platform itself. If such well-known decentralized cryptocurrencies, like Bitcoin, Ethereum and Litecoin, run on the blockchain, then XRP is developed by the Ripple Company itself. In fact, XRP serves as an internal token that uses cryptographic coding. We monitor the latest news on the Ripple cryptocurrency and inform our readers about the latest changes on the cryptocurrency market.

Ripple 2019 Forecasts

Ripple 2019 Forecasts

After analyzing the current banking system and currency transfers, leading experts evaluated the Ripple’s prospects and also tried to determine what to expect in the near future. According to experts, Ripple is intended to become the main competitor of VISA and MasterCard, and in the future it will generally replace the money transfer system. In the crypto community it is believed that this digital asset can shift Bitcoin from the world’s leading position, since the second one still has problems with successful financial transactions’ confirmation. In turn, Ripple will allow to carry out more than ten thousand transactions per second, thereby significantly saving time, which is currently unattainable for Bitcoin and Ethereum.

Another undeniable fact that demonstrates the Ripple’s perspective is the advantageous cooperation of the digital asset with world banks such as Bank of America, Royal Bank of Canada and many others. Even some leading cryptocurrencies cannot boast such an achievement.

Many experts note that this digital asset is very profitable to invest in 2019, which is justified by innovative technologies and the use of the system in the banking sector. Therefore, it is necessary to remain vigilant and follow the news related to Ripple.

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