Ripple XRP has certainly had an interesting few months. Despite some problems on the pricing front, it has rapidly become the darling of many cryptocurrency commentators. There is a feeling in the market that it is getting things right where Bitcoin made mistakes. Primarily, this is due to an expectation that the significant industry partnerships that the team behind Ripple XRP has signed will insulate it from the government interference and corporate distrust that has started to dog Bitcoin in recent months. In this article, we’ll take a look at what these investments actually amount to and what the rest of 2018 could hold for Ripple XRP.
What will Ripple XRP be used for?
In general, Ripple XRP is not intended to be a unit of exchange for consumers. Instead, banks are expected to use it as a store of value and, in particular, a means of moving money from one part of the world to another in cases where traditional systems make these types of transactions prohibitively slow and expensive. A number of major banks in Spain and Latin America have already climbed onboard the Ripple XRP train for exactly this reason. These partnerships could be the key to Ripple XRP’s value over the long-term.
Can it go all the way?
On the other hand, Ripple XRP’s sluggish recent performance has put many people off investing in it. While the upcoming partnerships could hold great promise for the future, many investors want to see results now. They’re likely to be disappointed as Ripple XRP has followed the recent form of the cryptocurrency market in general. It may be several months before Ripple XRP is able to see the benefits of the partnerships that it has worked so hard to create, and its investors may need to take a similarly long-term approach.
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