These are quiet days with few movements that try the patience of the anxious traders, that can be led to take wrong decisions due to short-term information shortage. It is advisable to stick to our previous ideas, that predict price rises in the mid-term. Due to the current levels, those who are willing to close their positions if prices decrease should keep them until key levels are broken.
Ripple’s (XRP) price grew by over 28,000% in 2017, leaving it the second largest cryptocurrency market cap at the start of 2018. Despite a total supply of 100 billion XRP, the coin topped US$2 by the start of 2018, giving the coin an enormous market cap.
Ripple still has some growing room left, but meteoric rises like those seen at the end of 2017 will naturally be few and far between, and it’s safe to assume that the price changes will settle into more sustainable ranges. This is especially likely for a coin like Ripple which can benefit from price stability.
With its large supply, and currently limited use, investors will want to be wary of readjustments following price rises. This is especially true for a coin like Ripple that benefits from stable pricing, and is designed more for corporate use than individual use.
Before buying Ripple, find out how it works (finder.com/ripple) and decide whether you’re in it for the long haul or a quick buck. This can help inform your decision-making going forwards.
If you’re in it for the short term, you’ll naturally want to take care to buy low. It’s also worth paying attention to upcoming hype. Ripple’s becoming a household name so getting ahead of the news can pay off.
If you’re in it for the long run you’ll need to pay close attention to the features and current applications of Ripple, and ask yourself some big questions about the future of the global economy. You should also be paying close attention to Ripple’s sister coin, the Stellar Lumen.
55 billion XRP in escrow
Despite a total supply of 100 billion coins, the Ripple company has put 55 billion XRP in escrow. These are held in place by a smart contract which releases 1 billion XRP per month over 55 months. Any unused amount will be put to the back of the queue, for release in month 56, 57 and so on.
Unlike everyday inflation, the release of these might be good news for prices. This is because they’re released to Ripple partners and other affiliates to help get them involved, let them test drive Ripple and start using it with low costs.
So rather than going to the exchanges, newly released XRP is being used to grow the its use. It’s worth keeping this in mind.
Ripple is designed to facilitate international money transfers by acting as a settlement layer. Essentially, it lets people make international money transfers much faster and with minimal fees.
It’s been picked up by a range of banks and international organizations, and is mostly designed to facilitate transfers in a business setting. Individuals will likely be using Ripple indirectly through their banks, and indirectly benefiting with faster transfers and lower fees.
If XRP becomes the industry standard for international money transfers, it will still grow enormously and could conceivably top US$100 per coin.
Ripple is more than just a transferable store of value. It also aims to offer smart contract functionality which will increase its applications considerably. Institutions will be able to use XRP for a range of different purposes.
You only need to look as far as the 55 billion XRP in escrow for an example of potential applications. Those funds are being held with Ripple’s own smart contract application.
Why Ripple investors should also pay attention to Stellar
Ripple performs an essential service, and it does it very well. So at this stage one of the only things that could derail the currency as a whole might be a continued shift towards direct peer-to-peer systems that cut Ripple and banks out of the equation.
This is where Stellar Lumens come in.
Stellar Lumens are Ripple’s sister coin. Lumens are also designed to facilitate international money transfers, and its price increase has closely mirrored Ripple’s. The main difference is that Stellar is designed for individuals to make international money transfers, or currency exchanges, directly with each other peer-to-peer.
Essentially, it lets people exchange currencies and send money overseas by trading directly and automatically with each other, and cutting banks out of the equation.
And for Ripple’s price to see major growth it needs to have banks using Ripple to conduct international transfers on behalf of individuals. While it’s still a long way off, the future of technology is increasingly based on decentralized peer-to-peer systems like Stellar, rather than centralized systems like Ripple.
This town is big enough for both Stellar and Ripple, but there’s only so much money to go around. Ripple still has plenty of growing room, but anyone in it for the long run will want to pay close attention to the news, and how the world’s changing.
Ripple XRP News Today: Ripple co-founder theoretically richer than Google co-founder
According to CNBC report, Ripple co-founder theoretically richer than Google co-founder. Ripple has significantly increased in value in the last few months. It has touched $ 3.84. At the valuation of $ 3.84, the co-founder of ripple that is Chris Larsen is actually worth the $$ 59.9 billion. This is more as compared to the co-founder of Google. This is the reason why the astronomical rise in the price of this crypto-currency has resulted in billionaires being created out of nowhere.
Ripple is designed to enable banks as well as individuals to transfer money anywhere around the world
The ripple protocol is designed to enable banks as well as individuals to transfer money anywhere around the world at the click of the button. Overall, more than 100 financial institutions are currently using the ripple protocol in order to transfer money.
Many of the banks are also trying to use the ripple protocol in order to transfer money for their clients. As the number of these clients goes on increasing, the value of ripple would also go on increasing. In the future, with the rise in the value of ripple, you can be sure that the founders are of ripple would be much more valuable as well.
Ripple is lightning fast and also it can deliver money to the recipient anywhere around the world
The truth is that the founders of ripple have actually created a product for which, the need was around for quite some period of time. If you compare it with the techniques which are used by banks as well as financial institutions to transfer money around the world, they are still pretty old and it takes between 2 to 3 days in order to transfer the money. On the other hand, when you’re speaking about the usage of the ripple, you would realize that it is lightning fast and also it can deliver money to the recipient anywhere around the world almost instantly. This is one of the main reasons why ripple is so valuable as well. The usage of ripple is increasing significantly as well.
Since touching a high of $ 3.84, ripple; however, has fallen off from those levels. It remains to be seen whether ripple is able to gain those levels again or not. One thing which is for sure is that the numbers of companies which are using the ripple protocol in order to move the money around are surely increasing. That is why it is an expectation among the investors that ripple would also be able to get new high and owing to this very reason, the ripple would be able to make its founders as well as investors richer in the future as well.
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