If you’ve been following the cryptocurrency market over the past few months, you’ve probably noticed that almost every coin is hitting new lows and sinking further into despair. However, one token in particular has continued to show strength, even as its competitors fall around it like dominoes. That token, of course, is Ripple (XRP). The reason why Ripple has emerged from this crypto winter relatively unscathed is simple – it was built with enterprise integration in mind, and this continues to pay off handsomely for its investors. Here’s why Ripple will remain the clear leader of cryptocurrencies for years to come!
How Ripple Is Different From Any Other Coin?
Ripple is one of the more unique cryptocurrencies out there. Here are some of the things that make it different from any other coin:
1. Unlike most cryptocurrencies, Ripple is not decentralized.
2. It was created with the help of banks and financial institutions.
3. Its main purpose is to be used by banks and other financial institutions as a way to send money quickly and cheaply.
4. Unlike other cryptocurrencies, Ripple is not mined. Instead, all of its coins were created at once when the currency was launched.
5. There is a limited supply of 100 billion XRP, which makes it different from coins like Bitcoin which have no limit on how many can be mined.
6. The founders of Ripple maintain a majority stake in the company unlike most other cryptocurrencies where there is an even distribution between people who own coins and those who don’t.
7. Ripple has been adopted by major banks around the world including Banco Santander, Standard Chartered Bank, UBS Group AG, Westpac Banking Corporation and CIBC.
8. In addition to providing faster transactions than Bitcoin or Ethereum, another reason for its popularity among banks is that it doesn’t require high-power mining rigs which leaves less room for error than mining traditional currencies like gold or silver (miners could easily mine bitcoins instead of gold).
9. For these reasons and more, I think we’ll continue to see Ripple remain on top as the clear leader among all cryptocurrencies for years to come!
How Does Ripple Work?
Ripple is a cryptocurrency that doesn’t use a blockchain in order to achieve consensus. Instead, it uses an iterative consensus ledger. This means that consensus isn’t reached through mining like it is with Bitcoin. Rather, servers validate transactions by comparing them to other servers in the network until they all agree that the transaction is valid. The process repeats for each transaction. While this does mean that there are some minor differences between ripple and bitcoin, it also means ripple can handle as many as 1,500 transactions per second which is much faster than bitcoin’s 7-per-second capacity. Plus, unlike bitcoin or Ethereum, ripple has no transaction fees and its ownership is concentrated among just 55 entities. That makes it easier for people to buy ripples on exchanges like Coinbase or Bitstamp without having to go through lengthy know your customer (KYC) procedures.
The Next Step in Blockchain Technology
Ripple is the clear leader in cryptocurrencies, and it’s not even close. With a market capitalization of over $100 billion, it’s nearly twice the size of its nearest competitor, Ethereum. And Ripple is only getting bigger and stronger. Here’s why:
1) It’s been around for much longer than any other coin on the list (6 years vs 3 years).
2) Its price has increased significantly more than any other coin on the list (13% vs 7%).
3) It has an active team behind it with deep roots in major financial institutions and organizations that use their services like MoneyGram and IDT Corporation.
4) It has partnerships with all of these companies, unlike most other coins.
5) They have a working product ready to be used right now. All other coins are either still in their testing phases or just idea stages.
Is There Competition?
Ripple has already established itself as a clear leader in the cryptocurrency world, and there are several reasons why it will continue to reign supreme. For one, Ripple is incredibly versatile and can be used for a variety of purposes. It’s also one of the most stable cryptocurrencies out there, which is incredibly important given the volatile nature of the market. Furthermore, Ripple has an amazing team behind it that is constantly innovating and working to improve the platform. All of these factors combined make it very likely that Ripple will remain the top cryptocurrency for years to come. But with so many other currencies available, some newcomers are bound to try and knock Ripple off its pedestal. Stellar Lumens is an interesting contender since it seems poised to make some big moves this year. Its partnerships with IBM and KlickEx could help bring greater stability to the market while its usability as a mobile app makes it more accessible than other currencies like Bitcoin. Ultimately though, I’m not sure any of these up-and-comers have what it takes to dethrone Ripple at this point in time.
What Influences XRP Prices?
Ripple is currently the clear leader in cryptocurrencies, but what allows it to maintain this position? Prices for XRP, the native currency of Ripple, are influenced by a variety of factors. First and foremost, XRP is a utility token used on the Ripple network. This means that its price is directly related to the demand for using the network. As more and more financial institutions begin to use Ripple for cross-border payments, the demand for XRP will continue to increase. Additionally, XRP is one of the most liquid cryptocurrencies, meaning it can be easily bought and sold on exchanges. This makes it a great investment for those looking to get into the cryptocurrency market. Finally, because Ripple is a decentralized platform, it is not subject to the same volatility as other cryptocurrencies.
Conclusion and Summary
Ripple has already asserted itself as the clear leader in the cryptocurrency space, and for several reasons, it will continue to reign supreme. For one, Ripple is much more efficient than other cryptocurrencies, which makes for faster and cheaper transactions. Furthermore, Ripple is backed by many well-known people in the financial industry, giving it a degree of legitimacy that many other cryptocurrencies do not have. Finally, Ripple has a team of developers who are constantly innovating and improving the platform. As Ripple surpasses Bitcoin and Ethereum as the crypto to use, it will also rise in price. In the not-too-distant future, it may even be possible for XRP to replace all other forms of currency currently used in the world!