Ripple's XRP price has experienced massive
growth in the past year. XRP will reach the two-dollar mark soon. Yes, you heard it right.
What is happening behind the scenes of the Ripple? What could happen to the price of
XRP? Is it a good investment option? Will Ripple make you a millionaire? Make sure to
watch the video till the end to know more about this.
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Ripple works on the fast, reliable, instant, and economic cross-border real-time payments
and other money transmission activities through XRP.
XRP is a custom-designed digital asset
to facilitate cross-border payments. The crypto is closely aligned with several banks, investment
companies, and companies throughout the world. XRP is so cheap and widely adopted; it is
more valuable than most tokens that may not have much underlying value. Because of this,
it's the perfect cryptocurrency for those who want to buy in large quantities in anticipation
of future gains. Coin shares revealed that 33 million dollars
were invested in the sixth largest cryptocurrency in the previous month, bringing the year-to-date
inflows to 38.9 million dollars. When we talk about the top 1% of the globe, we know that
it takes a lot to be in the top 1%. XRP is one of the top 10 cryptocurrencies, and it
has attracted a lot of investors. To ensure the survival and growth of any cryptocurrency,
it must be protected. Over the past years, it has been one of the most secure cryptocurrencies
and has never been hacked. As a result, it is reasonable to believe that the XRP network
is secure and has the potential to succeed over time.
Now let see the latest updates we have got here.
Brian Brooks, the former Chief Legal
Officer at Coinbase, the CEO of Binance, is now resigning that post, as he had a difference
in opinion towards the strategic direction. Also, it is to be understood that congress
is being made aware of the Nation Security Issues about the Swift payment Network concerning
the cost, speed, vulnerability of cyberattacks, and the lack of Interoperability with the
new system. RippleNet’s Messaging System uses a decentralized
network so that all users are on one platform allowing for “bidirectional messaging”
This allows end-users to track payment movements while decreasing costs
and time for settlement. Ripple’s Market Share in the cross-border payment market is
unclear, but it has stated that its network processed almost three million transactions
in 2020. Well, there is another new payment network
that also uses blockchain technology is J P Morgan’s Liink. He launched the Interbank
Information Network, which was later rebranded as Liink in October 2020.
As a real-time information
sharing technology “liink” supported by blockchain technology, J P Morgan claims that
the Network has more than 400 financial Institutions. Both RippleNet and Liink Network serves as
an Alternative to SWIFT. Several Domestic and International payment systems have adopted
or are in the process of adopting ISO 20022. Again Ripple is one of the only DLC groups
to join this governing board; this is not a coincidence, and Ripple is focused on this
messaging standard, and of course, XRP solves the settlement issue of the payment stack,
including SWIFT and China’s CIPS Most financial institutions use SWIFT for
international money transfers, and Ripple has positioned itself as a rival to SWIFT.
For cross-border transactions, it offers RippleNet, a global payments network. XRP can be used
for money transfers by financial institutions that use RippleNet.
In more than 40 countries,
Ripple has been adopted by dozens of financial services companies.
The concerns and Issues regarding SWIFT are growing, and why do you think Ripple meeting
Cambodia central bank last year in June and this year about a month ago announcing that
they have on-demand liquidity Corridors opening for XRP usage and even gold telegraph going
on to explain that Cambodia wants to get away from the US Dollar Reserve system, just another
coincidence probably. Up next, we see that Uphold and GlobalID partner
to offer XRP cashback in a boost for the Ripple for the launch of the XRP cards, which would
be a debit Card from MasterCard that provides upto 5 percent cashback in the digital currency
XRP. It would be much better to get XRP rather than getting the US Dollarwhiching is getting
hit with Inflation daily, John E Deaton, the founder of Crypto-law.us,
says that this proposal of law is not about regulating Crypto- it is more about protecting
the corrupt incumbent banking system.
When it was about the XRP debit Cards, he was also
of the view that he didn’t know one could get back shares of a company this way, and
then he also clarifies that XRP isn’t shares of a company Ripple. XRP is a Digital Currency.
Ripple is trying to integrate non-fungible tokens to the XRP Ledger as part of its newest
business expansion, which aims to tap into the lucrative and growing NFT industry while
also expanding its On-Demand Liquidity (ODL) payments business around the world.
Ripple has taken steps to diversify the use cases for the XRP Ledger, as cross-border
payments are becoming increasingly competitive.
Tokenization of assets is the company's latest
venture. In recent months, the SEC has also been paying attention to tokenized assets.
As Gary Gensler, chairman of the Securities and Exchange Commission (SEC), said: "Make
no mistake: It doesn't matter if it's a stable value token or any other virtual product that
provides a synthetic exposure to underlying securities."
Let us now understand why the XRP Ledger is superior and is a project to watch. It has
Censorship resistant transaction processing, which means that no single party gets to decide
which XRP transaction succeeds or fails. More importantly, no one can roll back the transaction
once it has been completed. As long as those who choose the participation in the network
keep it healthy, they can send and receive XRP in seconds,
Fast and efficient Consensus Algorithm, XRP’s ledger consensus algorithm settles transactions
in 4 and 5 seconds, processing up to 1500 transactions per second.
XRP Ledger also provides
Responsible Software Governance. A team of full-time, world-class developers at ripple
maintains and continually improves the XRP Ledger’s underlying software; Ripple Acts
as a Steward for the technology and an advocate for its interest and builds constructive relationships
with governments and financial institutions worldwide.
The XRP also has a fully functional accounting system for tracking and trading obligations
denominated in any way users want and an exchange build into a protocol. The XRP Ledger can
settle Long, cross-currency payment paths and exchanges of multiple currencies in an
atomic transaction, bridging trust gaps with the XRP.
According to Ripple's XRP documentation, the ledger settles payments in less than five
seconds and can process more than 1,500 transactions per second. The transaction cost is designed
to increase with the network's load. The ledger is where all XRP transactions are executed
and settled. XRP can easily attract many investors by the
end of 2021, being the fastest and cheapest cryptocurrency. The price could thus reach
$1.443 on a bullish market by the end of August 2021. The pre-mined XRP supply, on the contrary,
can reduce the price.
When the bearish trend outperforms the bull, the price could drop
over the short term, decrease estimated to be nearly $0.861, and recover over a short
period. However, if the market dominance continues at 2.14%, trade at 2.805 dollars can be observed
at the end of the year. As of August 14th, the value of XRP is $1.0853.
With a 24-hour trading volume of $7,105,658,400. The current CoinmarketCap ranking is #6, with
a live market cap of $54,192,052,595. It is also to be noted that only 46% of the total
coins are in circulation. The Crypto market is following the lawsuit, and now with the
implementation of this infrastructure bill, many dilemmas are being caused in the mindset
of investors. So, this seems to be a good time for investment. Ripple has successfully
rallied and positioned itself in the world's top six cryptocurrencies with its recent triumph
over the SEC case.
In the exchange of currencies, XRP is the preferred choice for traders. Ripple
also only offers restricted delivery of 100 billion XRP coins, among which 46.5 billion
XRP are in circulation. In the future, the scarcity of XRP will boost strong demand.
With that, we have come to an end of this video!
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Thank you so much for watching; see you in the next video, my friend.
And on a final note, be aware that the prices of cryptocurrencies frequently change, so
by the time you watch this video, it might have changed to a whole new value. The information
provided in this video does not constitute investment advice, financial advice, trading
advice, or any other sort of advice. You should not treat any of the content as such. The
content in this video is for educational purposes only and hence should not be considered financial
Do conduct your own due diligence and consult your financial advisor before
making any investment decisions..