Ripple evolving rapidly, XRP poised for evolutionarily exponential growth $$$
Ripple is by far my favorite crypto currency, since it has proven itself to be stable and capable of down/up swings in the coin/asset market. I believe that the current price of 0.17 per XRP is a bargain; this could easily double and more than likely will adjust exponentially.
If Bitcoin is the foundation of crypto currency, then Ripple is the re-bar. It enables others to be able to send their funds cross border, with ease. It’s similar in many ways to Western Union, in that it is a money mover used by the Finance Industry.
Ripple shares its protocol, much like Red Hat shares its Linux. This is due to the founders allegiance to building an “Internet of Value”, IoV. The backbone of their network is the Interledger Protocol, aka ILP, it allows payments across various networks and currently appears as the best way to scale upcoming growing markets.
The RippleNet is available to all, but is best when accessed with these Ripple specific tools:
xCurrent: their existing enterprise software that banks/financial institutions use to instantly send & receive cross-border payments with end-to-end tracking and bidirectional messaging.
xRapid: relatively new & being built for payment providers. When xCurrent was exposed to the marked, a need for a low cost liquidity solution was needed for emerging markets. xRapid specifically uses XRP to manage this issue.
xVia: assist in sending international payments through a third party on RippleNet; a simple but efficient API.
Additionally, Ripple hawks:
Code with Money – add payments w/o being tied to a single currency or payment provider.
Multi-Hop Routing – send payments to other ledgers, no matter how many hops away.
Simple Protocol – inspired by TCP/IP, Interledger is simple to implement & use.
Also, if you've read some of my positions before, I am all for leaving traditional mining behind; in a way, Ripple supports this. When Bitcoin is mined, huge data centers processing complex mathematical problems aka “proof of work”. This process is inefficient and devours massive quantities of electricity, in one example the cost of mining just one BTC produced enough power to charge over 3 US homes for a day; this is unsustainable & unacceptable.
XRP has already been created, no mining needed. Very efficient indeed!
I have proclaimed from the get go that XRP is undervalued; and not just a little bit, but by quite a sum. Consider this, the following small financial service companies are considered healthy and successful. Take note of their stock prices.
FSB = 35.25 | YDKN = 34.48 | SGBK = 46.73 | SBCF = 24.10 | STBZ = 27.37
TCB = 15.75 | SSB = 84.10 | NYCB = 12.88 | BBT = 48.36
Considering that Ripple provides similar services, it would seem logical that XRP would be similar in price. XRP is capable of sustaining $35 per XRP, so I see no problem in it doubling soon and continuing to climb in value. It is an asset, and that requires that it grow at a safe and steady pace.
It may be some time before it ever realizes $35 per XRP; but $1 - $5 could be right around the corner. The long term value is that it must go up, in order to be a viable asset; a long term hold on XRP is wise.
Likewise, a short term position is swift as well; at 0.17 per XRP; it would not surprise me at all if it doubles or triples soon. XRP is a great choice, whatever your strategy.
Supporting Links:
https://www.bloomberg.com/news/videos/b/c36ff7ca-fdfe-45df-a5d8-7b61a1a1dfa1
https://ripple.com/insights/ripples-product-suite-growing/
https://fasterpaymentstaskforce.org/
https://ripple.com/insights/nine-things-need-know-xrp/
In no way, shape, or form am I a financial advisor. All this information is my take from my perspective and no scientific analysis at all has been done. I DO own XRP, and DO suggest you get some too; but that’s just my two cents.
Congratulations @carltong! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPi believe ripple will be huge purely on the fact that they are back by the big bankers!
I concur, big fiat money isn't going to just go away; the sooner they can make money on XRP, the sooner it'll be accepted as a viable way to handle expenses.
My analysis nailed the recent Bitcoin bottom and has made some very profitable price calls. Bitcoin new all time highs dead ahead. Please check out my analysis:
https://steemit.com/@haejin
Thanks for talking the time to do a write up on XRP there isn't much out there it seems like a lot of people don't like it I haven't spent much time researching it although I do hold a small position.
Cheers
Gowd
Glad you enjoyed it. I agree with you that a lot of people don't like it, and even freak out when it fluctuates; I think that's because it is so much different than the top asset/coins.
buen post amigo
Hi! Do we need a wallet for Ripple? I have very little in bittrex but if I have to get more?
Thanks.
hi, great write up but are you aware that there are still about 55 bil XRP that's still locked? when they flood these XRP in the market, do you think it will still be valued at the same rate as now? No doubt XRP has been going at an incredible growth..
how do ripple use XRP? is this for bank to replace fiat? or is this to be used to pay for the fiat transfer?
thanks
schiz
@carltong - I am hodling some... keep waiting for a pop. Today.. it's getting punked again, dang!
Thanks for the article. I have a small position open already and now deciding if / when to buy more. I am not sure your analogy with stock market prices is accurate though, as XRP is the exchange currency and not Ripple itself. Banks may or may not use XRP when using Ripple but would have some advantages (low fees) doing so.
Good points in this blog. Good to see I'm not the only one who thinks like this. The biggest group of uneducated investors in mankind get's a shot to determine the price of a crypto. It's an interesting world we live in. I really advice people to take a look at: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. Check for example: https://www.coincheckup.com/coins/Ripple#analysis For a complete Ripple Investment research.