The Chief technology of Ripple, David Schwartz in the just concluded Ripple’s UBRI Connect 2019, he states that the company is steering towards bringing a better financial consistency to people both in the United State and Overseas. In his Keynote address at the event, Schwartz accentuates on the point that though there are confusions, millions of people in America lack ample access to traditional financial services.
Schwartz states that Ripple’s bigger objective is to help financial institutions and their clients transfer money as promptly and efficiently as email. Schwartz further added that XRP could perhaps play a major role in upgrading the speed and adeptness of payments by giving financial institutions a way to send money abroad using the digital asset as a channel currency.
This is where RippleNet comes in, RippleNet permits a sender to exchange their sending currency. For example, a sender can exchange U.S dollars for XRP, send the XRP on the XRP Ledger and buy Philippine pesos exactly when they need them.
XRP price prediction
XRP is one of the largest cryptocurrencies in the market. Today, we will shed some light on XRP price prediction for 2019. With such a large market cap, many investors are trying to figure out whether XRP can rise more during this calendar year.
XRP price prediction 2019: Technical Analysis$), there is ample room for improvement. Ripple is consistently adding new clients. It is not just adding new clients but marquee name clients, including banks, all over the world. Moreover, many financial institutions are also using the Ripple protocol in order to transfer money from one part of the globe to another. This is the reason why XRP is actually pretty undervalued currently. In the coming future, as it adds newer and newer clients to its structure, XRP will most probably be able to increase its market cap and value significantly.
XRP Price Prediction – Can XRP reach around $1 by the end of the year?
While there have been strong headwinds for the overall crypto market in the recent past, keeping all of these factors in mind, many of the cryptocurrency experts from different sources like fxstreet, express.co.uk, investingpr believe that XRP has the ability to triple its value or reach around $1 by the end of the year. Thus, if you’re looking to invest in a cryptocurrency which can get you significant returns, XRP may be the perfect option for you because of its current low price according to the experts from fxstreet, express.co.uk, and investingpr. They say it will be a good idea to buy it at the current levels. This way most of the investors will be able to make a pretty good amount of earning if they were to hold it for a long period of time. Also, the management building the Ripple protocol seems to know what they’re doing which is an added advantage.
Ripple/XRP Price Today
Ripple/XRP: an exciting, feature-rich network
To understand Ripple/XRP’s place in the crypto universe, we have to value its contributions to the industry. In addition to being one of the most renowned digital tokens out there – even competing for the second spot in market share, behind Bitcoin, with options such as Dash, Litecoin, and Ethereum – it is also one of the most efficient payment networks for financial transactions in the planet. The Ripple/XRP technology is, in fact, more widely known for its digital payment protocol than for being a cryptocurrency. Since being co-founded by Chris Larsen and Jed McCaleb in 2012, it has flourished, reaching worldwide recognition and market success via the digital coin, the XRP. Ripple/XRP functions in a decentralized platform that fosters money transfers in any form. It is open source and peer to peer, and can work with several exchanges and currencies, physical or crypto, such as US dollars, Yen, Litecoin, and Bitcoin. To work correctly, Ripple/XRP implements the Gateway medium, which serves as the link in the trust chain between two parties wanting to make a transaction. Gateway is the credit intermediary, the one in charge of receiving the funds to public addresses managed within the Ripple/XRP platform. In Ripple, anyone can sign up and open a gateway that authorizes that person to be the middleman for exchanging currencies. The XRP (Ripple) is the associated cryptocurrency of the platform. It performs the part of a bridge currency to other tokens without discriminating between fiat and crypto, facilitating exchanges between different coins. According to Ripple’s chief cryptographer, David Schwartz, the payment systems of today are where the email was in the early ’80s. Every provider built their system for their customers, and if people used different ones, they couldn’t easily interact with each other. The purpose of Ripple is enabling the connection of different payment systems together.
2012: Ripple/XRP is born
Ripple’s original and intellectual authors are Arthur Britto, David Schwartz, and Ryan Fugger. They formed the Ripple Company in 2012 and came up with the initial release. The latest version or release was on February 20th, 2018. The project is written in C++ code, under the operating systems GNU/Linux (RHEL, CentOS, Ubuntu), Windows, and OS X. We can consider Ripple to be a real-time gross settlement, currency exchange, and remittance network. Ripple’s first significant period ranged from 2012 to 2013, involving OpenCoin and Ripple Labs. OpenCoin started the development phase of a new payment protocol, named Ripple Transaction Protocol (RTXP), with Fugger’s ideas, primarily instant money transfer between two parties. By that time, the company had already created its digital currency, the XRP, in the same mold as Bitcoin. Later, between 2014 and 2017, Ripple began to focus on the banking market, with Ripple Labs taking part in related projects. They experimented with an App for iPhone that enabled users to send and receive transfer between them. Since 2013, the Ripple protocol has been adopted by numerous financial institutions to offer an alternative remittance option to people. German bank Fidor was the first to use the Ripple network to allow cross-border payments, in the first part of 2014. American institutions Cross River Bank and CBW Bank quickly followed, and later on, Ripple began working with Earthport. From that point on, success followed, and more prominent banking institutions, such as HSBC and Bank of America, utilize the Ripple protocol to perform operations in astonishingly quick times.
Ripple’s bread and butter: the consensus protocol
Bitcoin, along with other renowned cryptocurrencies in the market, performs its operations with the proof-of-work system. Others, such as Nxt, use proof-of-stake; but Ripple implements the consensus protocol. The consensus protocol validates account balances and transactions in the network, improving overall integrity by avoiding double spending. The system will automatically delete malicious advances from morally shady people looking to send one deal to multiple gateways. In short, the protocol consists of distributed nodes deciding by consensus the transaction’s pecking order through a majority vote. One would think that they take a lot of time to complete. Well, five seconds isn’t a whole lot, is it? Ripple is a decentralized platform because it doesn’t involve any governance or central authorities in any part of the process. While the transactions are all made public in the consensus ledger, there is still anonymity because they can’t be linked with the involved people’s ID or account. All users or gateways have a database of every registered IOU.
Get to know Ripple’s benefits
The consensus ledger that the Ripple system implements is versatile and fast enough that each day, more and more banks and financial institutions are adopting it as their preferred way to perform their business operations. Ripple provides an improvement on the traditional way that banks use to work. The transactions are completed, settled and registered in a matter of seconds despite the high amount of traffic that the platform experiences everyday. That is a vast improvement over, say, the Bitcoin system, which takes an average of ten minutes to complete an operation. Traditional banks and financial institutions can take days, or even weeks, to perform a wire transfer, and let’s face it, that delay isn’t going to cut it in our current financial reality. On top of all that, the transaction fees in Ripple are almost non-existent: the minimum is 0.00001 XRP. That’s nothing if you compare it to the costs of a cross-border payment.
Ripple/XRP, the token
The Ripple network has an associated cryptocurrency; the XRP, which has the power of liquidity by serving as a bridge between other means of payment, making the exchange more comfortable for all parties involved in a transaction. 52-week High: 0.596582 52-week Low: 0.265476 While there are no central authorities that control Ripple/XRP’s price and behavior in the market, the right answer to the question seems to be no: the platform is not entirely decentralized. That doesn’t mean it isn’t successful, as worldly famous financial institutions such as Santander, Bank of America, UBS, American Express, RBC, and Westpac, just to name a few, use it for operations. The blockchain technology doesn’t allow any party or the network itself to control anything regarding transactions, whereas these banks and institutions, using the Ripple’s distributed ledger, can charge their specified transaction fees. People can’t pre-mine XRPs, unlike the cases of Ethereum and Bitcoin. They are fully decentralized platforms backed by millions of miners all around the planet. No person or entity can have control over them. Ripple, administrated by the Ripple company, sees its nodes handled and managed by the mentioned financial institutions. There is a maximum number of Ripple tokens to be hand in the world, set at the moment of its inception to the market. The said number can’t go higher, which means that there aren’t any new XRPs being created. Ripple and Bitcoin: differences and complementary traits While numerous people within the industry state that Bitcoin and Ripple/XRP are competitors, that may not be precisely the case. There are some differences, though: Bitcoin implements the proof-of-work system, which is a piece of data difficult (costly, time-consuming) to produce but easy for others to verify. It has to satisfy a set of requirements, too. In the case of Bitcoin, it implements the Hashcash proof of work system. Ripple/XRP, meanwhile, uses the already explained distributed ledger, the “consensus” one, so there are notable differences in the modus operandi. Ripple is owned and administrated by OpenCoin and the Ripple Company, whereas Bitcoin is a decentralized system in which there are no central authorities. Now, what would you say if we told you that Ripple’s traits and features could benefit Bitcoin users? Remember, Ripple/XRP is best known and has attained most of its international recognition, as a payment system or protocol. Ripple/XRP can provide Bitcoin with more ways to connect with those using other forms of currency, as it preaches expedited transactions and increased stability. On top of that, Ripple is a distributed network and therefore does not depend on a single company to manage and secure the transaction database. As a result of that scenario, users don’t have to wait for block confirmations. Selena Larson of CNN Tech explains that Ripples (XRP) cannot be created, or “mined,” by users as it happens with Bitcoin and other cryptocurrencies. The company has control of its destiny in that regard.
XRP – a different kind of cryptocurrency
XRP is a different kind of cryptocurrency. Ripple’s XRP is more of a protocol rather than a cryptocurrency. Owing to its different nature as compared to some of the other cryptocurrencies, it has generated a lot of interest from the investors. Ripple/XRP is a protocol which has been created in order to transfer money anywhere around the world almost instantly. It is one of the fastest cryptocurrencies when it comes to completing the transaction. The transaction is completed using the token of the platform which is XRP. Thus, it is able to complete a transaction from one place to another place in the world almost instantly. The fees of Ripple are actually much less as compared to the normal transactions which are conducted through banks. The fees of the Ripple network are even less than the other cryptocurrencies which can be used in order to transfer money all over the world. This is one of the main reasons why Ripple/XRP is gaining more and more prominence. You need to understand that there are many banks all over the world which are using the Ripple protocol now in order to transfer money. This is done in order to ensure that they are able to provide international transfers to their customers almost instantaneously. Moreover, since the fees are on the lower side, you can be sure that the customers would be able to benefit as well. Also, the reduced time ensures that banks are able to use the networks and IT infrastructure more efficiently. This is another reason why Ripple/XRP is gaining more and more prominence.
XRP Price Prediction: Price appreciation of XRP
If you look at the price of XRP token in the last one year, you would realize that it has increased by more than 100 times. This is because it is a unique cryptocurrency which has a real-world application as well. Even the banks are using the Ripple protocol in order to initiate the transfer’s of money quite quickly. This is one of the main reasons why XRP is so valuable. So, the next time around you’re looking to invest in a different cryptocurrency which has a very strong application, do make sure that you are trying XRP out. It would ensure that you are able to invest in a cryptocurrency which actually has application in the real world and is used by various banks all over the world.
- Ripple lacks room in the triangle, must decide its next movement soon
XRP/USD in good position to move ahead first
XRP/USD 240 Min Ripple/XRP is approaching the vertex of the triangle that has been confining it since mid-December 2017. There is no further room in the triangle, so it must make a decision on its next trend soon. However, the zone is tricky and potentially dangerous, since levels are next to each other and any slip could have important effects. According to the current situation, Ripple/XRP has had a hard time finding buyers. Currently, it trades at $.
Should I invest now?
While making an XRP price prediction can be hazardous, 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.
XRP PRICE PREDICTION
Ripple/XRP 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 XRP which can benefit from price stability. Which is why, making an accurate XRP price prediction is especially hard. 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 XRP that benefits from stable pricing, and is designed more for corporate use than individual use. Before buying Ripple/XRP, 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/XRP, and ask yourself some big questions about the future of the global economy. You should also be paying close attention to Ripple/XRP’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/XRP 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/XRP 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/XRP investors should also pay attention to Stellar
Ripple/XRP 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/XRP and banks out of the equation. This is where Stellar Lumens comes in. Stellar Lumens is XRP’s sister coin. It is also designed to facilitate international money transfers, and its price increase has closely mirrored XRP’s. The main difference is that Stellar Lumens 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/XRP’s price to see major growth it needs to have banks using XRP 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/XRP. This town is big enough for both Stellar and Ripple, but there’s only so much money to go around. Ripple/XRP 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 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/XRP is lightning fast and also it can deliver money to the recipient anywhere around the world
The truth is that the founders of Ripple/XRP 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/XRP has fallen off from those levels. It remains to be seen whether Ripple/XRP 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.