XRP: The Sleeping Giant

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XRP Price: 0.32

Ripple and its cryptocurrency, XRP, have been at the forefront of cryptocurrency adoption to the unbanked and under-banked regions of the world. Ripple continues to release solutions that help banks and other financial institutions carry out faster and cheaper cross-border payments.

Before we go further, let’s talk about the cryptocurrency market in general. Currently the price and enthusiasm has come from speculation and anticipation of adoption. However, longterm, the value of crypto assets cannot be driven solely by speculation. The markets will favor projects with real use cases. XRP’s cross-border payments use case is, at this point, the largest.

Ripple’s xRapid solution, for example, can completely eliminate the need for pre-funding bank accounts in other countries.   The amount of value locked away in these pre-funded accounts is estimated to be measured in the trillions. XRP helps banks make international payments faster and cheaper.

“For example, the average time it takes to use SWIFT, the dominant methodology to move money for financial institutions, is 3–5 days at 500 basis points. For the Middle East, it’s 900 basis points with a 600 basis error rate. If it costs 9% to move money and you have an 8% net profit margin, it’s not worth doing business globally,” says Ripple’s Chief Market Strategist, Cory Johnson.

The Price of XRP

Currently XRP trades at close to .32 cents, with an all time previous high over $3.00 per coin. In the last 12 months there have been numerous developments, relationships and new clients that, to some, should have skyrocketed the price. However, the price remains in a tight range despite XRP’s growth and adoption.

Will the price go up? Time will tell what is in store. Ripple and XRP continue to move at lightning speed. Only time will tell if and when the coin’s price will reward patient investors. If, at some point, the price catches up with the company’s developments, we could see a huge pump in the price of XRP.

In the meantime, let’s go over a list of some of the more important events and announcements since 2017:

  1. XRP Tipbot available on Twitter and Reddit for micropayments
  2. Coinbase lists XRP on Coinbase.com and Coinbase Pro
  3. Coinbase launches International Payments using XRP
  4. Ripple also recently announced that it is launching an xRapid payment corridor between Mexico and the Philippines
  5. Uquid lets customers use XRP to top up their phones
  6. Tokyo-based SBI Holdings has announced that its digital assets exchange, SBI Virtual Currencies, which launched in beta yesterday, will list Ripple (XRP) as the only cryptocurrency supported at launch
  7. Binance adds XRP Trading Pairs
  8. Last but not least, launch & implementation of the InterLedger Protocol

So, love it or hate it, XRP is a coin that is well-oiled and quickly laying the foundation for being the most used cryptocurrency in the world.