x
Breaking News
0

Is Ripple Poised To Disrupt Bitcoin?

By Investing.com CryptocurrencySep 19, 2017 03:21AM ET
www.investing.com/analysis/expect-ripple-to-soon-rival-bitcoin-200214016
Is Ripple Poised To Disrupt Bitcoin?
By Investing.com   |  Sep 19, 2017 03:21AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

by Tanzeel Akhtar

If you haven’t heard of Ripple (XRP) already, now is a good time to get to know the digital currency. Though still low key, Ripple has huge potential and could soon rival Bitcoin.

So what exactly is Ripple?

Ripple uses blockchain and distributed ledger technology. It is a global settlement network. In order to make a settlement, a fee must be paid in XRP and these are what trade on cryptocurrency markets.

XRPUSD Daily
XRPUSD Daily

Ripple aims to provide a “frictionless experience” to send money globally using the power of blockchain. Ripple has also been adopted by a number of banks including Spain's BBVA (MC:BBVA), Royal Bank Of Canada (NYSE:RY), Bank of America (NYSE:BAC) and Standard Chartered (LON:STAN). Indeed, buzz about Ripple indicates it could have the potential to revolutionize the financial services sector.

Currently Ripple is considered to be the third most popular cryptocurrency after Bitcoin and Ethereum. At the time of writing, XRP was trading at $0.186. The currency has a market cap of almost $9 billion, after starting the year with a valuation around $250 million.

Ripple: considered exciting and solid

Jeremy Epstein advisor to OpenBazaar, IOTA and ZcashRipple explains he has been a fan of XRP ever since he read the Ripple whitepaper fifteen months ago.

Epstein says:

“I was excited about Ripple. I think their focus on a specific use case and being the common overlay for the global banking system of settlements is spot on. The effort to make XRP a de facto settlement coin is strategic brilliance.“

He adds:

“At the same time, as banks continue to mobilize on the blockchain front, they have an existential threat in the form of industry consortia that, sensing Ripple's potential dominant role, will respond in kind. The good news for Ripple is that consortia have a poor track record, so I like their chances.”

Another huge fan of Ripple is David Drake, the chairman of wealth preservation firm LDJ Capital. Drake is also enthusiastic about Ripple. “A lot of people in the beginning question Ripple but now when they are doing the second round of fundraising for Ripple Labs I expect a larger valuation. It is not inconceivable that this may simulate the trajectory of something like Uber down the road.” he says.

No digital currency hype

Another cryptocurrency commentator said there is “no hype” concerning Ripple. Xavier Hawk, founder of Permacredits and Phireon notes:

”While some other currencies have bravado and hype, Ripple has revenue, clients, and a strong position in the market.”

Hawk describes Ripple as the “quiet turtle plugging away with its eyes squarely set on the right prize which is revenue”.

Hawk adds:

“Ripple is establishing itself as a solid organization with its priorities set straight. Since the beginning of its inception in the market it has gone after the right clients, built the right networks, and provided value to the banking world behind the scenes irrespective of all the hype in cryptocurrencies."

Kamil Przeorski, co-founder of platform Experty.io said:

“Ripple has immense potential. Ripple has a unique market position compared to other currencies. It has been getting stronger in the market over the last few years.”

Przeorski thinks Ripple bridges the gap between old style bank-type infrastructure and brings financial institutions into the new era of blockchain technology.

“It's in a great position working with banks and can expand into other products or services and that's where it has strength over others. These partnerships will allow Ripple to continue to expand and become more valuable.” adds Przeorski.

As more and more investors and financial institutions gain understanding of the latest wave of digital assets, Ripple will undoubtedly see increased interest.

Is Ripple Poised To Disrupt Bitcoin?
 

Related Articles

Is Ripple Poised To Disrupt Bitcoin?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

 
Are you sure you want to delete this chart?
 
Write your thoughts here
 
Replace the attached chart with a new chart ?
Post
Post also to:
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Zane Scott
Zane Scott Sep 20, 2017 2:42PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Just wish all this institutional interest all over the world in XRP will translate into some price movement...? I also see it as a brilliant product that should really revolutionise the banking system, but people need to wake up a little faster!
Reply
0 0
David Ross
David Ross Sep 20, 2017 11:22AM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ripple now has the backing of around 90 financial institutions and has been tested by the BoE and passed with flying colours, with some of the worlds largest banks adopting Ripple as an instant transaction tool rather than Swift with it's 3 day transaction time, the banks see it as a money saving system and we all know how greedy banks can be....To me, and this is my own thoughts so you make your own mind up, investing in Ripple is a high priority, I can see it reaching $1 + by early 2018 and I have put my pension money where my mouth is, look at Ripples excellent website and do your homework, maybe I read to much into this but I am fairly intelligent and like most people, I have worked hard for my money so not a flippant purchase.
Reply
2 0
mantas ulys
mantas ulys Sep 20, 2017 9:00AM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Stay away from this. Majority of Ripple is owned by banks. And its one of centralised cryptos out here... Big no
Reply
0 5
Christopher Allen
Christopher Allen Sep 19, 2017 8:28PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
From a trading standpoint, I view Ripple as a great opportunity with massive growth potential. Yes, it goes against the foundations of what I love most about crypto's and their core-ideals, and I am trading it the same way I would trade a random Bio-Pharmaceutical stock. I notice a build in momentum, a big trend change, and an opportunity.
Reply
1 0
Yen Koe
Yen Koe Sep 19, 2017 5:30PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I doubt! the moment economist shared view like this kind of article, pls BE VERY CAREFUL remember this institutions just playing with us to create liquidity in the market, meaning to HAVE A LOSERS so they can pocket retailers money! I know some profitable traders BUT THEY ARE VERY SECRETIVE OF THEIR TRADE SET UP AND EVEN THEIR INDEPENDENT RESEARCH. So, if those economist strongly believe this Ripple will surge, then I guess they will keep quite and reap all possible gains BUT I think they are currently in big trouble so they are floating this idea to victimized us.
Reply
2 0
Robert Ace
Robert Ace Sep 19, 2017 5:28PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Is ripple decentralized?
Reply
0 0
Kyle Gardner
Kyle Gardner Sep 19, 2017 5:45PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
No, its one of the few centralized cryptocurrencies.
Reply
3 1
Robert Ace
Robert Ace Sep 19, 2017 6:13PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I'll pass then.
Reply
1 0
Gino11able .
Gino11able . Sep 19, 2017 6:50PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Investing com always shilling for the CBs
Reply
0 0
Neal Panda
Neal Panda Sep 19, 2017 5:21PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Author mentioned that banks adopts Ripple. How? Saying "adopts" doesn't make it a fact.
Reply
1 0
Christian Ikhile
Christian Ikhile Sep 19, 2017 5:12PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Interesting.... I need more info. And also how to get started on it
Reply
1 1
Jordan G
Jordan G Sep 19, 2017 5:05PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Kraken
Reply
0 0
Rohan s
Rohan s Sep 19, 2017 5:00PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Ho do you trade ripple?.Also in terms of issuance, is ripple mined liked bitcoin?
Reply
1 1
Nathan Demers
Nathan Demers Sep 19, 2017 5:27PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Its already premined and some tokens are held in escrow to limit the flood gates. They are slowly distributed/sold by ripple in to the market place.
Reply
1 0
Albert Jones
Albert Jones Sep 19, 2017 4:30PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
How can you get Ripple?
Reply
0 2
Amjad Bahmad
Amjad Bahmad Sep 19, 2017 5:02PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You can get it from Ripple website directly as Ripple and you can trade it as XRP/USD through a broker
Reply
0 0
hem Ra
hem Ra Sep 19, 2017 5:11PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
You can buy it from bitstamp.
Reply
0 0
Nathan Demers
Nathan Demers Sep 19, 2017 5:27PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Kraken, bittrex, poloneix
Reply
0 0
Amjad Bahmad
Amjad Bahmad Sep 19, 2017 12:43PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
So ! Any expectations for the price for this year and 2018 ?
Reply
0 0
Ben Samlot
Ben Samlot Sep 19, 2017 5:23PM GMT
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I expect the price will be somewhere between $0.5 and $1 by the end of 2018.
Reply
0 0
 
Are you sure you want to delete this chart?
 
 
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email