Ripple is a cryptocurrency that facilitates fast and cheap money transfers.
- What is a Ripple?
- Advantages of Ripple
- About Platform
- How Ripple has been working?
- Development of Ripple
- Growth of the Cryptocurrency Market
- SEC Lawsuit and its Impact
- Ripple Price Prediction 2025
- Bulls can look to book profits
- XRP Token surges on Positive outlook in ongoing Ripple vs. SEC Case
- Ripple announces Partnership with MFS Africa and expands On-Demand Liquidity services across 35 countries.
- Ripple Present Position
- XRP – The Xspectar Metaverse
- XRPL to sunset Hooks test net V2
What is a Ripple?
Most importantly, it is the native token of the Ripple Network. Additionally, a decentralized payment protocol connects banks, payment providers, and digital asset exchanges.
Essentially, Ripple aims to improve the speed and efficiency of cross-border payments by using XRP as a bridge currency.
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Advantages of Ripple
Firstly, one of the key advantages of XRP is its speed. As transactions on the Ripple Network can settle in just a few seconds.
If compared to several minutes or even days for traditional wire transfers. Additionally, this makes it an attractive option for businesses as well as individuals.
As well as those who are looking to send money across borders quickly and cheaply.
Further, The XRP ledger uses distributed technology. Essentially, which is different from the more commonly used blockchain technology.
Additionally, this technology allows bank & non-bank actors to incorporate the Ripple protocol into their own systems.
Essentially, the Ripple protocol is completely open and accessible to anyone without prior approval from Ripple Labs.
Firstly, Ripple’s tie-up with Tokyo Mitsubishi Bank in 2017, was a major milestone. Additionally, it became the second-largest crypto by market capitalization for a brief period.
Additionally, a year later Ripple was in the news again for its partnership with international banking conglomerate Santander Group.
Essentially, for an app focusing on cross-border transactions.
Moreover, in terms of rivals, Ripple has close to none at the moment. They are the leading crypto firm catering to financial institutions around the world.
Further, as the number of partnerships grows, XRP will reap the benefits. After all, it is the medium of exchange for all cross-border transactions enabled by RippleNet.
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How Ripple has been working?
First, Ripple has been capitalizing on the need for quick transactions. Additionally, another untapped potential in emerging economies.
Furthermore, given that, nations in Latin America and Asia -Pacific regions are more likely to realize the value of blockchain. Additionally, its token s compared to their first-world counterparts.
Further, with the rise of central bank digital currencies ( CBDC ). Additionally, it is likely that developing countries looking to explore this option will go for Ripple since it already offers a well-established cross-border framework.
Further, increased adoption of CBDCs will also lead to banking institutions considering integrating crypto into their services.
Ultimately, this will work out very well for Ripple since RippleNet is already associated with a number of banks.
Development of Ripple
Further, Ripple is predicted to develop rapidly over the forecast period. As it can be used for a variety of functions like accounting, investment, and smart contract implementation. In addition with decentralized finance.
Moreover, XRP has an edge over its rivals due to its low cost of entry. Further, the fact that a dollar will buy tens of XRP seems appealing to new investors. Especially those who prefer little investment.
Finally, according to Valuate’s report, the cryptocurrency market’s size is expected to hit $4.94 billion by 2030.
Additionally, growing at a CAGR of 12.8%. A number of crypto-firms will benefit from this, Ripple among them.
Growth of the Cryptocurrency Market
Essentially, the growth in the cryptocurrency market is spurred by an increase in the demand for operational efficiency.
Additionally, transparency in financial payment systems. As well as an increase in demand for remittances in developing nations.
Further, the general idea is that RippleNet’s adoption by financial institutions will increase leading to more recognition. As well as its native token.
Moreover, this has also been factored in while calculating predictions for 2025 and beyond.
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SEC Lawsuit and its Impact
Firstly, On 22 December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs.
Further, the lawsuit alleged that Ripple had raised $1.3 billion through the sale of “unregistered securities ” (XRP).
In addition to this, the SEC also brought charges against Ripple’s top executives, Christian Larsen (Co-founder ) and Brad Garlinghouse (CEO).
Giving reason that they had made personal gains totaling $600 million in the process.
The SEC argued that Ripple should be considered security rather than a cryptocurrency. And as such, should be under their purview.
The development of the lawsuit impacted XRP’s price. Following the news of the lawsuit in 2020, XRP tanked by almost 25%.
Furthermore, in April 2021, the judge handed Ripple a small victory by granting them access to SEC’s internal documents.
Additionally, which cause Ripple to rise over the $1 – mark. A threshold that crypto hand not crossed in 5 years.
The verdict can have a lasting impact on XRP’s value.
Ripple Price Prediction 2025
Finder’s conclusion from a panel of 36 industry experts, is that Ripple should be at $3.61 by 2025.
It should be noted that not all of those experts agree that the crypto won’t even cross the $1 threshold by 2025.
Furthermore, Year-to-date (YTD) figures from Ripple’s Quarter 2 earnings report have made it clear that despite the drop in XRP price. Additionally, demand for their On-demand Liquidity service.
Not only remained undeterred but also actually grew by nine times year-to-year with ODL sales totaling $2.1 billion in Q2.
The report further stated that Ripple has pledged $100 million for carbon removal activities.
Additionally, in line with their carbon neutral objective and sustainability goals.
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Bulls can look to book profits
XRP consolidated beneath the highs of a range over the past three weeks.
This consolidation can see a breakout provided Bitcoin defends $22.3k.
Firstly, Ripple (XRP) saw some volatility in the price charts in the past 2 weeks. A breakout past $0.412 was reversed rapidly.
Additionally, the region of support at $0.39 has been defended thus far.
Lastly, the price consolidated beneath the $0.412 range highs.
The price has made equal highs and equal lows in the past week. XRP ranged from $0.416 since 30 January.
Additionally, in this period the OBV slipped downward to show sellers were dominant.
The RSI attempted to climb above the 60 mark. But was beaten back.
Near-term bulls can look to buy XRP just above the $0.39 level and book a profit on the retest of the resistance at $0.41.
Secondly, Breakout traders can wait for a move above $0.42. And then, a subsequent bullish retest to buy.
Similarly, sellers can wait for descent below $0.38 and a bearish retest to enter short positions targeting the mid-range market at $0.373.
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As of Tue. Feb 21, 2023, 6:53 AM UTC · CoinMarketCap (USD) · Market open
XRP Token surges on Positive outlook in ongoing Ripple vs. SEC Case
Firstly, we wonder if Ripple and the SEC possibly agreed to a settlement.
Further, XRP tokens surged over 20% in the past 24 hours after reports of issuer Ripple being well-placed to win its landmark case against the U.S. Securities and Exchange Commission.
Secondly, some market observers opined that traders likely reacted to rumors of the case already being settled on paper.
Additionally, Ripple has historically maintained a distance from its relation to XRP, the tokens that power some of Ripple’s products, and the XRP Ledger network.
But any progression in the case has been shown to cause XRP price movement.
Ripple announces Partnership with MFS Africa and expands On-Demand Liquidity services across 35 countries.
Firstly, MFS Africa is a leading fintech company with the largest mobile money footprint in Africa. Additionally, it provides digital payment solutions across the African continent.
Secondly, MFS African connects more than 400 million mobile wallets across 35 African countries while operating upwards of 800 payment corridors across the continent.
Chiefly, Ripple announces a partnership with ProperHome, a blockchain-enabled real estate marketplace based in Portugal, to create a renewed way to buy, sell and rent properly.
Additionally, it will happen through an NFT utility that will be minted on the fast and energy-efficient blockchain for asset tokenization, XRP Ledger.
Further, Ripple’s Crypto Trends report claims that NFTs and CBDC’s potential is gradually realized, as well as its impact on Ripple’s network. Additionally, the broader blockchain space will be visible.
The major factors that will influence XRP’s price in the coming years are :
a. Verdict of the SEC
b. IPO after a lawsuit is resolved.
c. Partnerships with Financial Institutions
d. Mass Adoption
e. CBDC ventures by Central Banks.
Essentially, with the Fear and Greed Index leaning towards ‘neutral’, it implies that more investors were experiencing confidence regarding Ripple.
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Ripple Present Position
Firstly, Ripple sold $226 million worth of XRP tokens, net of purchases, in the fourth quarter, the firm said in its XRP markets report.
Equally important is that the centralized fintech company builds global payment products and developed the XRP payment system. Moreover, the firm describes as decentralized.
Meanwhile, Ripple and XRP are separate entities, Ripple uses XRP and XRP’s public blockchain to power its various products.
Additionally, the payments processor reported transactions of over 106 million on XRP Ledger. Essentially, the decentralized blockchain, and the creation of 228,000 new and unique user wallets.
Basically, Ripple said it has continued to sell XRP only in connection with on-demand liquidity (ODL) transactions.
In addition, being the popular product saw continued growth in the last quarter after experiencing its “strongest” year.
XRP – The Xspectar Metaverse
Firstly, XRP, the sixth largest cryptocurrency by market capitalization, has added a new utility: buying land in the Xspectar metaverse.
Secondly, XSPECTAR is a Web3 company built on XRPL with NFT collections and a metaverse. xSPECTAR was added as a validator to the UNL by the XRP Ledger Foundation in October last year.
Recently, the xSPECTAR team announced the details of its presale land event for its metaverse. Additionally, it makes it known that XRP can be used to buy land in xSPECTAR’s alternative world to socialize, play and do business.
Further, other options for land purchase include credit cards and xSPECTAR, the native token of the xSPECTAR blockchain.
Moreover, XRP continues to add new methods of being spent as a currency. For example, in August; last year, Binance Card announced the addition of XRP to the list of supported cryptos on the platform.
Furthermore, the Binance card not only allows supported cryptos to be spent in Europe but also anywhere the Visa logo is seen. Additionally, Binance Card, a debit card, also allows supported cryptos to be spent at over 90 million merchants worldwide.
XRPL to sunset Hooks test net V2
Chiefly, XRPL Labs has announced its plans to sunset Hooks test net V2 as Hooks test net V3 remains operational and Evernode has migrated to it.
Secondly, the XRP Ledger software developer states that it will be shutting down Hooks test net V2 in 2 weeks, on May 14.
Additionally, last month, April saw the activation of Hooks V3 the latest iteration of XRPL smart contracts in beta testing.
Further, Hooks which are basic smart contracts for XRPLedger, are small, efficient pieces of code being defined in an XRPL account, allowing logic to be executed before and/or after XRPL transactions.
Does XRP have a future?
Are Banks using Ripple?
Is Ripple better than Bitcoin?
What was Ripple’s highest price?
Is Ripple a Good Currency?
How much is 1 Ripple Coin worth?
Does XRP have a future?
Experts in the field of cryptocurrency have analyzed the prices of XRP. Additionally, their fluctuations during the previous years.
Secondly, it is assumed that in 2025, the minimum XRP price might drop to $1.67, while its maximum price can reach $1-97. On average the trading cost will be around $1.71.
Is Ripple a good currency?
Because of its consensus protocol, XRP is able to process transactions in seconds at a low cost. As well as, minimal energy. This makes it one of the more environmentally friendly cryptocurrencies.
What was Ripple’s highest price?
XRP is 89.88% below the all-time high of $3.84.
How much is Ripple Coin worth?
1 XRP = 0.361278 USD as of February 19th , 2023
Is Ripple better than Bitcoin?
Firstly, XRP transactions are both cheaper and faster than Bitcoin transactions. Since Bitcoin requires computers to solve complex cryptography problems.
Further, it can be time-consuming. On the other hand, XRP transactions take just seconds to process and confirm.
Therefore, the Bitcoin blockchain can support fewer users than XRP.
Are Banks using Ripple?
Equally important, many international banks are integrating into RippleNet. Any bank joining the network can access several other banks to trade with.
Therefore, XRP offers market access to participating banks and their customers.
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