No other cryptocurrency, even Bitcoin, comes closer to Ripple (XRP) and the kind of week it has had as we close weekend. On a scale of 1-10, this cross-border payment crypto, could claim to have dominated 9/10 in every sense of the word.
The bearish market may have seen all cryptocurrencies plunge to new price lows, but that wasn’t all for Ripple.
And it all comes down to one thing: Ripplenet is fast shaping up to be the future of cryptocurrency. And in the words of CEO Brad Garlinghouse, even if Ripple did go away some day, the XRP ledger will forever be there. In short, we should be ready to have the best of XRP for generations to come.
It’s unlike some of the cryptocurrencies that come up out of nowhere, claiming to be ready to disrupt this or that industry. Many promise a lot of hot air and then quickly fade into thin air without a single use case achieved.
But Ripple knows what’s good for the world
In relation to cryptocurrency and what role it needs to play in transforming the world, Garlinghouse castigated ICOs. He took a swipe at how many of the coin offerings we see are only interested in making money. While speaking with CNBC at the Money 20/20 Asia, the outspoken CEO reminded the world that his platform was driven by a desire to see positive impact from cryptocurrency. He said that:
“Better sometimes to focus on solving real problems for real customers, and not worry about running infrastructure for a token issue, getting listed on exchanges and all the steps that come with that,” Garlinghouse added.
While he addressed questions on volatility and how that could affect XRP use, this is what the Ripple CEO said:
“We’re talking about three seconds of volatility risk when using XRP for cross-border payments,” Garlinghouse countered. “The reality is you’re exposed to more volatility when doing a traditional transfer with fiat currencies and that takes several days.” Garlinghouse was referring to when financial institutions use xRapid for cross-border payments
Garlinghouse said that when he addressed the gathering at the Money20/20 Asia earlier in the week. To illustrate his pragmatism about blockchain and cryptocurrency, the immensely knowledgeable CEO had this to say:
“The reality is we’re working with decentralized technology,” stated Garlinghouse. “If Ripple goes away, and I really hope it doesn’t, the XRP Ledger will continue to exist.”
In case you don’t know, Ripple (XRP) is the third cryptocurrency by market cap. Only Ethereum and Bitcoin are ahead, but on evidence of what could happen in financial payments and cross-border remittances, we could see it overtake both in the near future.
The cryptocurrency is one of the few that are constantly finding novel ways to develop real-world use cases. Banks, several payment providers, and a host of digital asset exchanges are using xCurrent, xRapid, and xVia. All these products help them to process and provide liquidity for various payments facilitated by Ripplenet. These initiatives create new and competitive ways of sending payments across borders.
But what made the Ripple network the winner of the week?
Abra listing opens up XRP
Even without Coinbase, Ripple will be traded.
To put this into perspective, XRP has failed to make it to Coinbase despite the continued pledges to the contrary. Now it seems this cryptocurrency may not really need listing on U.S’ largest exchange. It is because you can now get your XRP via the ABRA mobile app.
Being listed on this global wallet provides XRP with an opportunity to impart its usability to over 72 million people who can access its service. Ripple joins other 19 coins on the list. It is going to play a crucial role in the adoption of XRP across continents.
BBVA -Ripple Platform Experiment
Ripple has undertaken several partnerships with banks and financial providers around the world. Payment providers like Western Union, MoneyGram and Fleetcor are all said to be in the process of working with the world’s only blockchain solution for payments.
However, this week’s announcement by BBVA means that XRP is ready to move to the next level of adoption BBVA has a fine footprint in Latin America, Mexico and Europe. This means Ripple will have a chance to penetrate this market leveraging the Spanish banking giant.
In terms of what it can achieve, Ripple (XRP) is making a case for themselves as the future of cryptocurrency. And this is just one more reason to continue holding onto your favorite coins.