Cryptocurrency speculators are predicting that Ripple could eventually overtake Bitcoin. Despite misinformation, confusion and controversy surrounding the currency, many experts have been outspoken about the potential rise in the value of Ripple in the future – with the currency set to hit dizzy new heights of at least $3.25 by the end of 2018, if trends continue on their current trajectory.
Two projects under one umbrella
Perhaps the biggest misunderstanding regarding Ripple (XRP) is that Ripple and XRP are two separate entities. Ripple, the company, offers a type of software known as Ripple Connect. This is used to transfer funds without having to convert it into various fiat currencies or service fees. One simple conversion is all it takes, making it a quick and easy choice.
XRP, on the other hand, is a cryptocurrency which exists exclusively outside of Ripple Connect. It has high liquidity and fast transactions – and its success is not directly linked to the success of Ripple. However, Ripple is likely to advocate the use of XRP as the cryptocurrency of choice within its platform, which means increasing numbers of people and organisations that use Ripple Connect look set to purchase it.
Banking technology meets cryptocurrency
Some critics remain sceptical over the marriage between banking technology and cryptocurrency, with purists claiming the idea goes against the spirit and philosophy behind the original Bitcoin movement – where people have a platform to take their money into their own hands and experience freedom from banks and federal reserves. As such, many users have expressed concern about banks moving into the crypto world, with an opportunity to take the number one spot.
However, others see the move as the evolution of the financial institutions, many of which are simply adapting to keep in line with current trends.
Data-driven analysis suggests that Ripple (XRP) tends to hold its value, with the occasional double-leap-and-dip – picture a heartbeat on a monitor to get the idea. After each dip, the currency remains slightly higher than it was prior to the leap.
Ripple continues to announce partnerships with major players in the banking and crypto worlds, and these announcements serve to push the value up and cause the aforementioned spikes in value. By taking into account this increasing reputation combined with technical analysis, it’s easy to see how the bull-run on the currency looks set to continue throughout the year.
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