According to reports from a recent independent review of the XRP token conducted by the Lennard Neo Picolo Research, the entire journey of the virtual currency across the quarter three was mentioned. The research included competitor analysis for the XRP network. It also conveyed the risk factors affiliated with the business itself.
For the research, the competitors of XRP were divided into two sectors namely the blockchain and traditional. PayPal and SWIFT are the two major services speculated to be sidelined by the network’s disruptive technological approach in the space.
Furthermore, the research also found that the blockchain startup is going to topple the major industry players citing the network’s ability to make money settlements cheaper and faster as a key reason for this.
Stellar (XLM) and OmiseGO Were Identified as Two Key Players in the Space That Will Compete With XRP in the Future
The Picolo Research found that within the blockchain sector, OmiseGO and Stellar were identified as the major players that are looking to be strong competitors with Ripple. The report revealed that the confusion over whether Ripple and XRP are a single entity might pose a problem for the cryptocurrency space. Other points that were conveyed after the report as potential threats for Ripple include:
Concerns over XRP being centralized because Ripple stills hold ownership of 60% of the total tokens.
No way forward regarding the classification of XRP (whether it is a security or not).
Ripple’s lawsuits could make way for headwinds.
The Analysis Concluded XRP Had A $1.75 Intrinsic Value
Concluding the analysis, the document released by the Picolo Research mentioned that the intrinsic value of XRP stands at $1.75. The $1.75 figure was also called the ‘buy rating’ for the XRP token. Which is considered to be at least a 289% upside potential for the digital asset.
The report finally made the speculation that the XRP token will continue to stay as one of the top-three digital assets in the market. It is expected to gain rapid success in the financial industry on a global scale.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
