The crypto sphere is becoming a competitive one as more currencies join the thousands already in existence. There seems to be long-standing battle between Litecoin (LTC) and XRP. The crypto community had been inundated with talks that either of the coin will relinquish powers for the other to take over.
While this might seem ironical, LTC and XRP have similar services running through their veins and it will only be a matter of time before one back down. This had been the perception up till the early quarter of 2018 when XRP got bearish. This put to rest the rivalry between the coins and given XRP the upper hand in cross-border payments.
Litecoin’s Unnecessary Hype
It had become common practice to hype coins in bid to gather more investors. In the era where crypto-to-fiat partnerships had become the case, Litecoin (LTC) had been on intense campaign; pitching itself against the arch-rival, XRP
Purported skyscraping ideas of becoming another Bitcoin and probably the next big thing in the crypto sphere had been one out of many upsides the coin had shoved down users’ throats.
The second quarter of 2018 had seen XRP getting bullish and putting to rest, unnecessary hype generated by Litecoin (LTC).
The argument that Litecoin (LTC) was better than XRP had been subject of discussion but the latter had shown improved potency that has seen it at the tops. The argument had been propelled by certain surveys that saw users positing that Litecoin (LTC) has more popularity than XRP and such as claimed, was driving force for its adoption.
It is pertinent to note that Litecoin (LTC) had sufficed some reasons why it is better off than Ripple (XRP).
For instance, XRP had been in running battle to have Coinbase-listing but such was not forthcoming. Litecoin (LTC) on its part had easy ride. It however became clear that Litecoin (LTC) got that on a platter of gold because of its daily transaction.
Another proponent was of the view that Litecoin (LTC) will give Bitcoin run for its money because of its simpler mining. However, the coin had been runner-up to XRP despite these bearish signs it seemed to have shown.
Ripple (XRP) Debases Litecoin (LTC)
Both coins have interesting beginning; launched within a year intervals. Litecoin (LTC) had cropped up in 2011 as a cryptocurrency that works on peer basis with reduced transaction costs.
Ripple on its part was upgraded to the latter’s solutions and extended its scope to banks. This was the point that sold XRP to the larger public and one of the reasons why a Litecoin (LTC)-comparison should not be brought up in the first place.
Though Litecoin (LTC) seemed to have it rosy and edged its way into hitherto Coinbase that rejected an XRP-listing, it had not done much in terms of partnerships.
XRP solution is better variant as banks are now aware of the coin and many are already adopting its products. xRapid, the latest innovation was meant to increase Ripple’s chances at controlling larger part of cross-border transactions.
Partnerships –A Cross for Litecoin (LTC)
Ripple’s CEO, Brad Garlinghouse was optimistic that the coin will become model for decentralized transactions and will further help traditional banks in seamless cross-border transactions. This is coming on the heels of its latest product, xRapid that is set to have major institutions jostling for it.
In terms of partnerships, Ripple had written its name in gold and had beaten Litecoin (LTC) despite the latter’s efforts at getting more partners. The argument seems to be put to rest as XRP has needed foothold compared to Litecoin (LTC). The latter can be likened to controlling smaller fraction of expected users; leaving off the larger part for Ripple (XRP).
Apart from exchanges and few investors that patronize it, Litecoin (LTC) would have been out of business. Banks’ awareness of a threat in form of Ripple that will usurp conventional practices is increasing as days pass by; something Litecoin (LTC) couldn’t achieve. It is therefore faulty to have positioned Litecoin (LTC) as better option than XRP when it had little to offer.
Ripple (XRP) Vs. Litecoin (LTC): Settling the Argument
There leaves no doubt that Ripple (XRP) and Litecoin (LTC) are relatively one-of-a-kind but the unnecessary upraise accorded Litecoin (LTC) was perhaps fraught and laden with sentiments.
Ripple’s products have become model in many bank transactions and though it seems these institutions pay respect to the products rather than the coin, XRP is no doubt going places and it will only take few years before its purported listing as security becomes manifest.
As the crypto community awaits coming partnerships on Ripple’s side, Litecoin (LTC) might be licking its wounds in its little corner as its supposed hype over XRP was a kite that couldn’t fly.