Ripple, and it’s XRP token, have been making waves since they were introduced. But XRP has always been kind of an anomaly in the crypto world. First, it’s a fiercely centralized cryptocurrency, which is seen as sacrilegious in the crypto world. But it’s also one of the only tokens that were created to work with and not against legacy systems and traditional banking institutions. Let’s look at a few reasons why Ripple is still a great buy in 2018.
What’s most exciting about XRP is that more people seem to want to support it and those who don’t are still interested in the Ripple network. Out of all cryptocurrencies, I would say that XRP has the strongest use case and many institutions have already started testing the waters with the token. Ripple has been able to keep investors’ interest by entering into partnerships and releasing nicely timed adoption stories as well.
For instance, their recent partnership with Korea’s Bithum exchange was huge for the currency. Bithum has now entered into a partnership with an important Korean payment service to create a payment service that would make crypto payments more accessible. Lots of XRP are being traded on Bithum and South Korea has played a huge factor in the 100% price surge earlier this year, and there are possibilities that it could happen again.
The main goal of XRP was to overtake the SWIFT system and facilitate cross-border transfers. SWIFT is incredibly outdated and it’s a wonder how financial institutions can still use it when considering all of its flaws.
At the time of speaking, it still takes between three to five days to make SWIFT transfers between 2 countries. And the present fee structure shouldn’t be overlooked either, especially when talking about large payments. With XRP an XRapid technology, those transfer fees are slashed by up to 60%.
The Blockchain on which XRP operates is also much more advanced than other cryptos like Bitcoin. XRP works on a third party blockchain while Bitcoin runs on a first generation blockchain. This is why it’s so much more performant as a currency.
For instance, XRP transfers only take 4 seconds compared to 10 to 30 minutes for Bitcoin. XRP can also perform up to 1500 transactions per second compared to Bitcoin’s somewhat pedestrian 7 transfers. This gap between the 2 technologies will eventually make a difference and XRP might end up being a more robust cryptocurrency as a result in the long term.
“Holding” culture will eventually play in XRP’s favor as well. While lack of circulation is actually hurting Bitcoin, it won’t have the same effect with XRP. Because of XRP’s strong use case and adoption, the chances of it blowing up are much higher. Any news could propel XRP to new heights while other cryptocurrencies might be losing steam.
If you are curious about altcoins, you should check out sites like Crypto Head. They have tons of helpful guides for new investors such as how you can buy Ripple and which exchanges allow you to trade the currency.
As you can see, the future of XRP is very promising and it should be one of the best cryptos for 2018. It’s great to use case and adoption should also make it a better store of value compared to competing altcoins in the long run.