#SUNDAYCOINDAY Ep. 12: Ripple (XRP)
Ep. 12: Ripple (XRP)
1- OVERVIEW
Ripple is basically the cryptocurrency for banks and payments providers, that's right. It claims to provide them an on-demand option to source liquidity for cross-border payments. It's built for enterprise use. Nevertheless is still used mostly for speculation on exchanges.
XRP wants to get a piece of those more than 155 trillion of the global cross border payment market.
2 - Use Cases
- Banks
RippleNet will build a liquidity network of banks, payment providers and enterprises. XRP will offer to institutional ones real time payments across 27 countries so far, lowering the transaction costs and creating new revenue for them, meeting customer demands for instant payments and remittances.
- Payment Providers
Ripple offers Payment Providers more volume on transactions, and making them faster and more transparent.
xRapid and xCurrent looks to satisfy a demand for instant and low cost transactions, a case study is actually working and can be seen with SBI REMIT which in collaboration of SCB (Siam Commercial Bank)
- Corporates
The aim have to be for multinationals in a way of simplifying payments for employees, suppliers, merchants, outsourcing, and so on.
3- THE TOKEN
Name: Ripple
Ticker: XRP
Circulating Supply: 38,531,538,922 XRP
Total Supply: 99,993,667,738 XRP
Market Cap: $7,793,427,594 (1,271,448 BTC)
Price at the time of writing this post: $0.202261 (0.38%)
- Exchanges
Bithumb, Poloniex, Bittrex, HitBTC, Kraken, and others.
MY 2 CENTS
Personally i don't like Ripple, is like an intruder bringing the banks and institutionals to a market of freedom and decentralization.
But the fact that i don't like the fundamentals doesn't mean that i can't profit from it. In fact i'm supper bullish with Ripple, it is going trough a correction right now, it's very cheap and the target could give over 100% profit.
The fact that players like MUFG, Santander, UBS, UniCredit, Standard Chartered among others are supporting and in fact using some of these features, gives a certain that the token is not just speculation material, that's something to say in this market.
My big picture for ripple looks like this:
IF YOU LIKE THIS POST AND THE IDEA TO CONTINUE THIS SERIES, PLEASE UPVOTE AND RESTEEM, If you missed it the first episodes of the series here it is!
THIS IS NO FINANCIAL ADVICE, ALWAYS DO YOUR OWN EXTENSIVE RESEARCH AND DO NOT INVEST MONEY YOU'RE NOT WILLING TO LOSE
This post has received a 0.45 % upvote from @drotto thanks to: @banjo.