Hardly a day goes by without some kind of news about Ripple and its native currency XRP. Currently, it’s about the dip, but that is common to all crypto assets. It doesn’t matter what type, though most often the rumors and negative aspects get the most of attention.
While this may serve whatever aim it’s intended for, one thing can’t be taken away from Ripple (XRP) in 2018: its strategy towards transforming the banking sector seems to have worked so far. The world’s banking ecosystem finds a lot of sense in what the Ripple project is trying to do. If they are finding it valuable, then maybe you as an investor should also. Here are seven top reasons to convince you to invest in XRP.
1) Ripple’s has a working product
The danger with investing in cryptocurrencies is that most of them are without any use in the real world. Ripple and XRP, in contrast, is a product already in use. The platform has provided a tool by which money is already moving around the globe using its products. It’s reliable and cheap and millions of dollars have already been sent via XRP. The best way to think about it is that XRP is a product whose demand will keep increasing. As an investment, it is a very good project for hodling.
2) Half of the world’s banks trust Ripple
Like I mentioned above, most of the banking sector view XRP as the tool to revolutionize the industry. Already almost half of the banking and payment and remittances industry are in Ripple’s plans. They are all seeking to exploit the advantages offered by solutions such as xRapid for payment providers, xCurrent for banks, and xVia for businesses that send and receive money internationally.
These solutions reinforce one aspect about Ripple that you should know of. It was developed with the banking sector in mind and that’s exactly what’s happening. When the coin becomes the default cross-border payment unit of transfer, imagine the value of XRP.
3) XRP trumps top competitors in speed and cost
It’s not a secret that Ripple’s XRP platform is much faster than its top competitors. It easily compares and even betters top speeds by traditional money remittance platforms. Now we have more and more financial institutions looking seriously at XRP.
The speed of transactions and extremely low fees make XRP the obvious option for these institutions. This is creating a reputation for the cryptocurrency and adoption is the only way forward in 2018 and beyond.
4) Ripple’s popularity goes beyond banks’ interest
If someone told you that it’s all about banks and nothing else, then they are missing the point. Yes, banks are the main target, but the world of payments is huge. That’s why you will see Ripple adopted and partnered with major businesses around the world.
What’s more, these partnerships outside banks are already bearing fruit for XRP. Think of what platforms like MoneyGram, Western Union, Exchange4Free, FairFX, MoneyMatch, RationalFX, and UniPay could bring to Ripple.
5) Every bank is a potential Ripple partner
I have talked about how Ripple’s solutions are helping banks to source liquidity and sent money across borders faster and cheaply. Yet, there is that probability that every other bank would one time be using XRP.
The enormity of this can only be comprehended if you think of the sheer numbers of banks joining Ripplenet. Every week you hear of a bank, the latest high profile being Spain’s largest Santander. However, even banks in developing countries are not being left out. A new entrant, BankDhofar, is now the first Omani bank to use Ripple’s technology.
Should Ripple succeed in conquering the banking sector, transacting at your local bank could be done via XRP.
6) XRP to take over money remittances
The growth of XRP means that it may not be long before we see it completely take over the remittance sector. Having already partnered the likes of MoneyGram and Western Union, the crypto has the capacity to take over world’s remittances.
When apps that run on XRP hit the market, companies like PayPal will find it difficult to keep up with it. Think of Santander’s OnePay app and the plans to open it for users, not in the banking business. Then there’s the rumored Apple deal. The future is bright.
Ripple is a solid cryptocurrency and investing in it won’t be a bad call. Its advantages and future growth set it apart from the others.
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