Feb 9, 2019 03:30 UTC
Feb 9, 2019 at 03:30 UTC
Will Ripple (XRP) Ever Be As Big As Bitcoin?
Ripple is being touted as the next big thing in the cryptocurrency realm and even though the price of XRP token is nowhere near that of Bitcoin, people, investors, and crypto enthusiast are all in agreement that the Ripple is the next big thing in the crypto space.
Ripple(XRP), unlike Bitcoin and Ethereum, has many technical advantages over its crypto rivals. The first and foremost is the transaction time, where Bitcoin and Ethereum take a couple of minutes to make a transaction, Ripple needs only seconds. Similarly, the transaction fee which is a growing concern among the Bitcoin community, the ripple transaction fee is next to negligible.
In this article, we will look at several factors which might peg the Ripple beyond Bitcoin and try to understand how the XRP is changing the traditional views towards the crypto ecosystem.
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Technical Advantages That Might Help Ripple To Surpass Bitcoin
Apart from the faster transaction speed and lower transaction fee, the major driving force behind the XRP is its reach in the traditional market.
Major banks around the world are already looking to implement the usage of Ripple in their traditional banking systems. Combine that with the general crypto use by the consumer and you can see the picture on how Ripple might become the “David” of the crypto ecosystem.
Ripple is quite cheap to use and is not affordable but even faster than most of the cryptocurrencies.
XRP’s ultra-low fees make it very suitable for transactions ranging from micro-level transactions to larger, more substantial money transfers.
XRP is also divisible up to 6 decimal point making it more versatile in use than many of its counterparts. With a limited supply, the divisibility factor could drive its usage to a very large domain of banking systems which might see its prices surpass many of the predecessors.
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Ripple and Its Major Partnerships
JP Morgan who is infamous in the Bitcoin community for its criticism for the pioneers had partnered with Ripple. This is a massive achievement by even normal standards, but to have a partner who is not a big believer means the currency has something special which has attracted even the strongest of critics towards its platform.
To make you understand the buzz around the Ripple, the altcoin grew by a massive 35,000% in 2017. This was the time when the XRP was not even available to be brought against a fiat. Recently Ripple was added to the European Crypto exchange BitPanda, and anyone in Europe can now buy Ripple against the Fiat.
The altcoin has generated enough buzz and backed it with the help of a dedicated community behind it. Even if the prices do not come near that of the pioneer, Bitcoin, even then it would surpass the first ever crypto in terms of adoption and use.
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Looking at the interest of institutional investors and adoption by major banks around the world, the chances of Ripple surpassing the legacy of Bitcoin is certainly higher than any other altcoin in the crypto space.
Whether Ripple is able to surpass the Bitcoin valuation, only time would tell, however, looking at the interest of banks and other big institutional players, the chances are higher than anyone else.
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