XRP Tagged “Settlement Coin” as Recent Increase in Cryptocurrency Prices Boost Security of Tokens, What Does This Mean For XRP Price

There has reportedly been a wave of happiness around the crypto space in recent days. This is because the prices of the major coins surged higher. The price of Bitcoin, the leading digital asset by market capitalization soared by over $8500. Bitcoin further expanded its dominance at the weekend and headed towards $9000.  The ongoing bullish trend is an indication of the high level of acceptance for digital assets. Experts are hopeful that this and other factors can help push XRP into the mainstream. There is confidence in XRP to become the settlement token. The XRP 589 price prediction seems like a possibility now.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.263
-1.74%

XRP Prediction 2019: The New Found Confidence and Acceptance of Digital Currencies Will Increase Token Security – XRP 589

This new trend for digital assets will likely increase token security. Because investors will become more confident about investing in digital assets. It will drive the price of XRP push in the losses that were incurred during the bearish season. It should be recalled that the crypto sector lost assets in millions of USD during the extended bearish market of 2018.

Per the report, it is clear that $25 billion has been regained in the last few days. This influx of funds has pushed the market cap of the digital asset space to $272 billion. The daily volume over the past one month has also reached $90 million. This testifies to a growth rate of 50% and the fact that the market volume has doubled in the said period.

XRP Prediction 2019: The Role of XRP in the Crypto Upstream Movement – XRP 589

Ripple’s XRP is positioned as the crypto that will facilitate virtual currency acceptance at enterprise level. Ripple, the company, has been working progressively behind the scene and signing up many financial institutions to push its objectives.

They have been tons of developing technologies along with features that are capable of allowing Ripple to take over the global payment sector.

The price of XRP is making an extend bullish movement, and creating a global link of financial institutions that will be capable of controlling the cross-border payment sector. The industry that will be controlled by Ripple is reportedly worth $2.58 trillion.

XRP Prediction 2019: Why XRP Will Become the Global Payment Token – XRP 589

Ripple’s decentralized financial tools are powered by the network’s native token XRP. These tools allow transactions to be completed swiftly.

It takes up to four seconds to complete transfers with RippleNet. While the Ethereum network takes about 2-minutes. But the almighty Bitcoin takes hours to complete transactions. With Ripple users can compete with the throughput of Visa of 50,000 transactions per second, processing 1,500 transactions every second. RippleNet can host over 200 financial institutions. Hence, the more users interact with the Ripple network, the more active the network will become.

Now, global banks prefer to use Ripple’s tools because they allow faster settlement when compared to the USD. It appears XRP will be the virtual currency that will tackle the scalability issue once and for all. This is an issue that has confronted the leading digital asset, BTC. Ripple is working to ensure that its XRP cryptocurrency gets to the level it ought to be at. The RippleNet consumer base is growing exponentially to surpass the price of XRP in the short term. For the long-term outlook, the price of XRP is expected to reach 2x its current value.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

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