Ripple (XRP) had succeeded to edge its way into the hearts of many crypto investors and after the mini-scare where it overthrew Ethereum to clinch the second spot for some time, the coin seems tired of its third position on market capitalization and is perhaps making moves to topple Bitcoin. Though this remains to be seen, 2019 could be the leveler.
It is however important to note that Ripple’s XRP is not particularly swayed by opinions in the crypto sphere but it’s interested in having its value increased – a move that will not increase its price but also make its dream of becoming first come true. But how can this be? There are three factors that positively contribute to growth of Ripple’s XRP and if sustained for some time, Ripple (XRP) will in few months, be rubbing shoulders with Bitcoin.
- Regulation
One might wonder how regulations will increase the fortunes of Ripple’s XRP. Before now, governments around the globe had been antagonistic to existence of cryptocurrencies and severe measures such as banning Initial Coin Offerings (ICOs) in their countries had been put in place to frustrate continued existence of these coins.
One aspect they failed to clinch was regulating operations of these crypto coins. In the light of this, Ripple’s XRP stands better chance to flourish as dictates from centralized authorities will not be prevalent or toss it about.
Though Ripple’s XRP just like every other cryptographic currency is not regulated, enforcement of regulations by central banks and governments will aid increment of its value. As questions are centered on what the future holds for Ripple (XRP), it is noteworthy that the coin actually needs regulations.
Though the current system had cryptocurrencies being Laissez-faire (free form central banks and world governments’ financial regulations), Ripple (XRP) had actually called on governments to regulate the coin.
Regulations will Increase Adoption
The underlying idea behind the coin’s clamor for financial regulations is not far from the fact that Ripple’s XRP needs more investors. Though it had multiple users accessing its products such as xCurrent, there is belief that enforcement of regulations will hype the coin and attract more users and businesses that will be interested in its cross-border payment solutions.
Regulating Ripple’s XRP will trigger the Price
In addition to more investors coming into its framework, applying financial regulations to futuristic coins such as Ripple’s XRP tends to increase their values. The idea here is that as more users flood the system, there will be increase in transactions and this in turn will set its valuation in the cryptocurrency market on a bull run.
- Technology
The blockchain had been foundation for many decentralized projects such as Ripple (XRP) but the latter chose to be a man of its own. Ripple’s XRP uses a separate ledger that facilitates transactions. Casting its net away from the blockchain was because of the latter’s low throughput as attributed to Bitcoin. The fact that it wanted to be model for cross-border transactions that promise to be faster was reason why Ripple (XRP) broke off from traditional blockchain foundation to having a ledger of its own.
Banks Attracted by Ripple’s (XRP) Technology
In build-up to its seamless and low-cost cross-border transactions, Ripple’s XRP had attracted many large banks. Many of these of these have commenced use of its xRapid and xCurrent products and several others are test-running these ahead of future integrations in their payment systems.
Ripple’s (XRP) underlying technology is another factor that positively affects its price now and in the future. The latest addition, xRapid was intended for faster transactions. In the light of this, more enterprises will begin integration of the product that will result in more adoptions and increased value for the coin in future.
Demoting SWIFT
Cryptocurrencies have questioned continued existence of financial payments around the world and Ripple’s XRP is one that took it further to disrupt existing payment services. The international payment protocol, SWIFT had been literally demoted by Ripple’s XRP with the latter holding the aces in global payments. Though some banks are yet to accept it, the few that have are already experiencing positive surges in their transactions and this will certainly attract more banks.
- Press
Typical with every cryptographic currency, there are media hypes that not only bring it to the notice of larger population but also move these people to adopt the digital currency in question. Ironically, Ripple’s XRP doesn’t need much hyping as press releases by media outlets positing its upsides have attracted more users.
As news agencies disburse information about Ripple’s (XRP) technology, the social media such as Twitter is rife with the coin’s coverage. The positivity of media channels and their interest and subsequent broadcast of Ripple’s (XRP) payment solutions is one of the factors that will set the coin on a bull run.
Conclusion
Ripple’s XRP is no doubt; the rave of the moment and its impressive strides in climbing the ladder of the crypto table is unprecedented. Though it had done well in alleviating the pains of cross-border payments, itemized factors are leading its adoption.
Bitcoin, the global leader in cryptographic currencies have been speculated to leave its spot and fall under Ripple’s (XRP) sledge hammer. While this might seem a dream too tall, Ripple’s XRP is in perfect position to clinch the first spot on market capitalization.
As investors and coin holders watch events as they unfold, it is noteworthy that Ripple’s (XRP) technology, press coverage and expected regulations from financial institutions and governments will play positive roles in positively affecting its value.
