Ripple XRP News – Future & Facts
What comes to
our mind when we hear the word cryptocurrency? We may think about Bitcoins.
Cryptocurrency is a type of digital currency, one of which is the Bitcoin.
Cyrptocurrencies are controlled through blockchains. In 2009 the first crypto
currency was decentralized. This was the year that the Bitcoins were born. Just
the recent years, there is a lot of influx of new crytocurrencies. The new ones
cannot sustain unlike the Bitcoins which have been around for almost a decade.
We may have heard about Litecoins, Eretheums, Dogecoins, Bitcoin Forks and
others. They do not have the same value with Bitcoins. Bitcoin forks have
recently emerged. These forks are the alteration of Bitcoin protocol. This
means that someone is changing the rules. When there is fork, one can have an
original and a new coin. On the other hand, the Eretheum’s value has risen for
a while now. But still their value fluctuates every now and then. There is also a new cyptocurrency in the market.
It is called, Ripple XRP.
XRP is the currency of the Ripple Network. It has 6 decimal places, and the
unit is called a drop. Some Ripple XRP news mentions that the currency is still
trading below $1. Experts believe that the Ripple XRP could be the next
Bitcoin. The value of the ripple has increased gradually since 2012. The faster
transaction and lower fees enables the financial system to embrace the
cyrptocurrency using ripple. Though
Ripple is unlikely to go up this year because of three main reasons, first is
the dollar volume. The market cap for Bitcoin is $191
billion, for Eretheum is $84 billion and for Ripple, about $35 billion. The
second reason is how the Ripple is used. Ripple is used mainly for trading
assets. Unlike Bitcoins which can be used daily by consumers just like paper
and coin currency. The third reason is that the Ripple cannot be directly
purchased by fiat currencies. One must buy Bitcoins or Eretheum to be able to
purchase Ripple XRP. But it will continue to increase its value because of it
capabilities to provide faster transactions. Ripple’s CEO has requested that
everyone should cooperate with the regulators of crypto currency. The company
has $60 worth of XRP which the plan to use as an investment asset for the development
of the XRP.
In recent Ripple XRP news, the Coinbase has decided not to include
Ripple in their existing pairs. Though Korean exchanges have increased XRP’s
trading volume. It has continued gaining its popularity among the Koreans. Just
recently the South Korean Woori Bank has finished their first trial run with
Ripple’s blockhain. Although we may have heard about South Korea banning
cryptocurrencies, only the Ripple has gone steadily among the rest of the
cyrptocurrencies. By doing this the
banks will be efficient by eliminating the role of middlemen banks. Expanding
the Ripple’s ecosystem through increasing partnership with the banks will
surely be beneficial in the near future.
This means that cyprtocurrency fans might have to wait before they can follow
the footstep of Bitcoin investors. The fast transactions using Ripple XRP can
be the game changer in the world of digital currency. We just have to wait a
few more years before these plans will be realized by different companies
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