Is Ripple (XRP) Revolution Or Scam??
Ripple has been booming lately as more and more financial institutions have started to use the service for its fast transactions and extremely low fees. As banks seek to move away from the somewhat outdated SWIFT system, the Ripple protocol and it’s token XRP has risen up as a viable alternative. Ripple is also a very controversial coin, with proponents talking about interest from banks and opponents worried about centralization and lack of real world adoption.
Will there be a demand for Ripple and XRP?
Previously, there were concerns about the use of the token. In theory, it is possible to use the Ripple payment protocol without the XRP token and people were left to wonder about it’s worth. However, Ripple has recently tweeted that, “3 of the top 5 global money transfer companies plan to use XRP in payment flows in 2018”.
Furthermore, the CEO of Ripple, Brad Garlinghouse, has also confirmed that banks and payment providers plan to use xRapid (the XRP liquidity product) in a serious way.
Future outlook for Ripple – serious challenger to bitcoin or scam?
Ripple, currently second in market capitalization, has been continuing on an upward trend. At press time, the altcoin was trading at an average of $3.36. With a market cap of over $131 billion, it is over half that of bitcoin.
One thing to take note of though is the high supply of Ripple. Bitcoin will only ever have at most, 21 million coins in circulation. Ripple currently has over 38 billion XRP issued. If we set the supply of Ripple to 21 million, using its current market cap, each coin would be over $6,200. And looking at it that way might ward off potential investors.
The success of Ripple and other altcoins have led to an all time low for bitcoin dominance at 33.3 percent. With this recent news, will we finally be seeing a challenger to bitcoin for the top of the crypto throne or is just another flash in pan? One thing for certain is that 2018 is sure to bring much more exciting news for crypto.
Ripple Total supply vs Circulating Supply
The XRP token was created with a significant portion of it reserved for development of the coin. Unlike mining, these coins can be issued out by the owners (either the founders of ripple or Ripple Labs). This is a large difference between the circulating supply and the total supply as well, with almost 60% of XRP left to be distributed.
If XRP had the same supply as Bitcoin the Price would be walloping $18,953!
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I think that XRP has elements of both...but there are aspects of it that will always keep it in the game..in my opinion.
Its a big player and though its market is grossly manipulated, It probably a sound long term investment for anyone who wasn’t to HODL.
As They Are Centralised Their Owner Can Turn It Upside Down Anytime.
You are absolutely right but there will always be a light at the end of the tunnel even during the worst of time—considering they’d be dumping their own investment prematurely, before it’s reached its full potential. Plus as more people get involved, there will certainly be contracts in place to protect the investors from a sinking ship. Just my opinion but XRP has good standing and is not likely to fall apart any time soon.
It Might Be Like What You Say But Not Totally Upto Your Thinking?
I just mean that XRP may be centralized but when there is money involved- people tend to keep their investments around as long as they can to allow for better profit. No doubt that the owner has a nice sum of XRP themselves and wants to allow that to appreciate as much as possible.
You Are Right.
Super important point mate. The fact that they are not decentralized holds me from going all in for it. Nevertheless, I ride the bull when its booming. Just making small money.
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