Ripple is playing on its competitive advantage: The price performance of the Ripple XRP was stellar, wherein it surged by 100 times. The user base of the Ripple is primarily composed of the banks. Moreover, such base is increasing as more financial institutions fall into the consumer base of the Ripple.
The strong points of Ripple warrants attention. With its real-world application and fast processing of funds into and out of the foreign country, have become one of the strongest points of the Ripple. Although there is still enough space to grow, the previous meteoric rise on the price of Ripple might not be witnessed again.
Though it is advisable to trade in these cryptocurrencies with a longer time horizon, the short-term traders need to be wary of the dramatic volatility that is inherent feature of the price behavior of these cryptocurrencies.
Ripple offering are beyond the transferrable store of value. It also offers the smart contract functionality. This increases the application of its software significantly. Therefore, institutions can use XRP for range of different purposes.
However, there is a risk to the business model of Ripple. Any continued shift towards peer-to-peer systems have a potency to make the Ripple and Banks redundant. This is the point that merits attention.
Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally. Ripple is built on a technology that is scalable, secure and interoperates different networks. It also provides optional access to the world’s fastest and most scalable digital asset for payments, XRP.
Ripple offers the following solutions to its users.
- xCurrent : Banks use this service to process their global payments
- xRapid : Payment provider use xRapid to source on demand liquidity
- xVia : Businesses use xVia to plug into RippleNet to send payments