Ripple update: XRP will be #1…Soon… Here’s why
I can see a world, in the near future, where XRP is the foundation of the world economy. We already know so much about Ripple Labs, the company; their origins – all the way back to 2004 – the strong leadership and strategic foresight they have shown throughout their growth and development, the revolutionary introduction of the ‘ILP’ (Interledger Protocol) – which draws much inspiration from what we all know to be the Internetwork Protocol (IP), also known as the Internet – and of course, the one-and-only XRP digital asset.
The future I am slowly watching unfold is this: If you do a bit of Google research, you will see that since around 2013-14 [arguably] the rich have been lining their pockets with Crypto. What would have started off with Bitcoin, would hastily have grown into Ethereum, then XRP, and it’s safe to say that by now they would have bits of money strategically stashed all around the market.
If you continue that Google search, you’re bound to come across endless news along the lines of; Ripple making way in India, Japan, China, etc., Ripple partnering with countless banks and remittance services, Ripple working with multiple exchanges, and much more.
Now, a lot of you may ask how Ripple, the company, making all this progress will ultimately have effect on the price of their coin, and I have two answers for you – each just as juicy as its counterpart. The first comes down to the age of the market, now this is more of a metaphorical thing, but its impacts are real.
In an amateur market, speculation rules the day. Jimmy can go out and write an article saying ‘Ripple Labs enters into ten more legal battles’ and because the only people in the market presently are everyday people, plus those markets have very low liquidity in the big picture, that will have a huge impact on the price, their mindset on XRP and a bunch of other things. On the other hand, for example, if Jimmy then goes and writes an article about ‘Google has been caught doing blah blah blah…’ the truth would quickly come out and the world would keep spinning. However, one can only expect, sooner or later, that regulatory framework will be introduced, and this market will change, almost overnight. And when that does happen, one feature it brings with it is intrinsic value. To overuse an example, when Google brought out “Google Glass” the products initial value was through the roof, it was hyped to the heavens and claimed to be the next big thing. This did not end up being the case and within a few years it was all but forgotten. Having said that, the lifetime it did end up experiencing was prolonged. My meaning in that being, if it wasn’t Google bringing out that specific product, the initial value would not have been anywhere near the same (as we saw with the years it took the Oculus Rift to get off the ground), and its lifetime nowhere near as prolonged. It had value purely because it was brought out by Google. I strongly feel this will be the case for XRP in the not-so-distant near future as well.
Getting back to things, the second reason I believe good news for Ripple is good news for XRP stems from the recent rumours surrounding some sort of ‘convergence’. Whether this is software, or just the plan all along, it can only be good for XRP, as from my understanding, this will mean no matter what product a company might be using, XRP will be involved.
The last point I wanted to touch on was one I feel might be often overlooked by the average XRP enthusiast and it draws on a few points I mentioned earlier. If more and more financial institutions, banks, exchanges, global remittance companies, etc. are signing up to build their infrastructure using Ripple, and those are the same people who have been lining their pockets with various Cryptoassets for probably years now, then in turn we are looking at a future where Bitcoin might be worth upwards of a million dollars, not to mention all the others, all running on a network supplied by Ripple and utilised by the XRP token. A future where a lot of the world’s assets, be it fiat money, digital currencies, or even stocks and bonds all run on a network underpinned by XRP.
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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