Ripple is one of the top five coins as per market capitalization. Even with the current dip in price, Ripple is still striving in some areas. If you buy into the notion that cryptos will return back to all-time highs, Ripple would present a greater ROI compared to a coin like Bitcoin. This is because, at its current price of $0.34, a return to $3.30 would represent nearly a 10x rise compared to Bitcoin’s 1.5x.
For those XRP holders who are interested in the future unit value of the coin, learning about its possibilities is beneficial. The rumor is that Ripple may sell as high as $5. Is this going to be possible? Given below are a few reasons why
Increased Adoption By Banks
Ripple provides a blockchain solution which tries to solve the problems that have hampered the financial industry over the decades: slow transaction processing speeds, high transaction costs, and unreliability. Ripple also aims to make cross-border payments far more efficient for these large payment providers.
Currently, over 100 financial institutions who range from payment providers to banks have partnered with Ripple and are in the process benefiting from the many blockchain solutions that the platform offers. Earlier this year Ripple partnered with BankDhofar—the first bank in Oman to make such a partnership.
Dr. Tariq Taha, the bank’s chief of information in a press release statement was quick to point out why this move was so significant for the bank. “With this, we can provide instant, frictionless and secure cross-border money transfers within seconds, with end-to-end visibility over the journey of the payment”
Chinese Market Push
In a bid to ensure that the platform enters the largest e-commerce market in the world, RippleNet partnered with LianLian International – one of the leading money service companies in China. LianLian has over 150 million registered users in China.
China has the largest e-commerce market in the world. Last year its e-commerce market contributed $672 billion out of the global $4 trillion. In 2018, cross-border e-commerce transactions in the Asian country are projected to surpass $1.32 trillion. This explains why LianLian International saw Ripple as the perfect partner to help support the huge number of global payments sent through the country’s e-commerce market.
By joining RippleNet, the company is set to receive real-time e-commerce payments, invoice payments, and cross-border remittances. LianLian would use Ripple’s xCurrent, a settlement solution that offers end to end tracking and power cross-border transactions between the US, Europe, and China.
XRP One Of The Fastest Transaction Processing Platform
Visa used to be the fastest company when it came to global financial transaction speeds until recently. A number of system updates on the Ripple platform have seen the platform overtake the top position. Before the system update, Ripple could handle only 1,500 transactions but now can process up to 50,000 transactions per second. This is over double the number Visa can handle with 24,000 only. This makes Ripple the fastest transaction processing platform in the world.
Now corporations can subscribe to the xRapid package offered by Ripple and make quicker and safer transactions. The package will also help drive down the cost of currency exchange and global settlement since XRP and fiat currency fit like a glove and a hand.