Ripple News Today – Ripple XRP may be trailing behind Bitcoin and Ethereum in position as top dog in the cryptocurrency industry but the company has shown that it’s no pushover when it comes to business transactions. The blockchain company has been at the forefront in advocating for the shift to the use of cryptocurrency in financial transactions globally. It boasts of a variety of different solutions for the global market.
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Ripple XRP and xRapid have become the standard for transactions across many banks in the world. Some of these banks include Euro Exim Bank, ATB Financial in Canada and Santander in the UK. This has made cryptocurrency analysts predict that Ripple may rise to overshadow Bitcoin. This may seem like a pipe dream as Bitcoin sits comfortably at the top of the cryptocurrency food chain. Of note is the disparity between the two cryptocurrency assets.
XRP (XRP) Price Today – XRP / USD
Though Bitcoin was initially formed to be the global currency for transactions and payments, things are different today as the people are unwilling to spend Bitcoin as an exchange for goods and services. This is not the case with Ripple xRapid has become widely accepted as the medium for transactions for banks, financial institutions, and government bodies.
Ripple’s meteoric rise seems to be mostly from the partnerships it has formed with banks, other financial institutions, and bodies. Of note is the partnership with MoneyGram, who has joined Ripple’s xRapid platform. This is a significant partnership as MoneyGram is a big-time player in the money transfer market. MoneyGram now makes live transactions using the xRapid platform.
Another reason for the preference of the Ripple platform for financial transactions over Bitcoin is the speed of the transactions. While Bitcoin’s network is secure and robust, it was formed with the focus of catering to the mining of coins. Ripple xRapid platform can make thousands of transactions per second. This has made the xRapid the preferred choice for global transactions.
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Ripple latest update learned that there were rumors about Bank of America doing its transactions on the xRapid platform. While the rumor hadn’t been substantiated, the CEO of Ripple had neither supported or refuted the rumor. Analysts believe that giving a Ripple price prediction would favor an increase in the value of Ripple XRP soon. Ripple’s second quarterly report of 2019, showing an increase of 48% in XRP sales buttresses the fact that Ripple may lead the cryptocurrency industry when it comes to global transactions.
Ripple platforms make transactions faster and cheaper than Bitcoin since the platforms generate less power for the transactions. All these progress made by Ripple may make it seem certain that it would push Bitcoin to the sideline. Surprisingly, Bitcoin stands head over Ripple XRP as investors seem more interested in the leading cryptocurrency. Ripple may have an array of packages that could potentially shoot it to the top, the hope of toppling Bitcoin as the number one cryptocurrency may be unrealistic.
What do you think about the Ripple News Today? Does XRP Have What It Takes To Rule the world?