According to the site Coinmarketcap.com currently Ripple (XRP) is in third place in terms of capitalization among the world of cryptocurrencies, consistently holding at the level of approximately $32 billion At the beginning of this week, Ripple was the only digital currency out the top five, preserving a positive trend since the start of trading. However, on Thursday, an active sale lowered the coin value to $ 0.92.
The cryptocurrency has some potential for further development, as indicated by at least its impressive growth in December and the first half of January. Ripple technology has one major advantage in the form of almost instant international payments. Ripple transactions are processed within only 10-15 seconds, whereas in the SWIFT system for processing transactions may take up to three days. That is why the news of the financial sector can stimulate further growth of the Ripple.
That Will Boost Ripple?
Last week it became known that the Ripple team has signed two new partnership agreements: with the telecommunications service provider IDT and an international payment service MercuryFX. In the framework of cooperation will be tested functionality xRapid Ripple based on the token Ripple, to improve the speed and reduce the fee.
To date, this cryptocurrency has already proved itself well. For example, in early January, the international payment system Moneygram announced plans to add an XRP token.
What Should I Watch For?
- First, growth is constrained by the ongoing trial with R3.
- Secondly, there is a fierce competition of projects on the blockchain, which does not stop for a second.
- Thirdly, the legal framework for the turnover of cryptocurrencies has not yet been created. In this regard, we can recall the episode of the recent history of Ripple, when in may the network to combat financial crimes fined Ripple $700,000 for violating the law on banking secrecy (in the part that relates to anti-money laundering).
What are the Prospects of Ripple?
Based on the limited number of XRP tokens (only 100 billion) and the volume of transactions carried out through SWIFT, we get a market of $153 trillion. If the entire amount is stored in XRP, not including the funds used to create the wallet, and those that are not in circulation, then the cost of each of the hundred billion XRP tokens will be $1530.
The average value of each day of the year will be $4.19. Assuming that a year consists of 250 working days, then the average value would be $6.12. But this will happen only when Ripple conquers the world. In the meantime, we only have to wait for the news about the new cryptocurrency agreements with large financial companies, each of which will increase its value.
Under these conditions, it is possible that in the next few weeks the cryptocurrency will return to the price above three dollars. The price is stuck at $ 0.85, and after an active sale, it may make another giant leap.