Ripple (XRP): Top Performing Cryptocurrency of 2017

According to

Coin Market Cap data, Ripple (XRP), which has increased by 36,000 in 1 year, was the best performing cryptocurrency in 2017. In contrast, Bitcoin (BTC) and Ethereum (ETH) rose by 1.318% and 9.162%, respectively. NEM (29.842%), Stellar (14.441%), Dash (+9.265%), Litecoin (+5.046%), Cardano (+2.782%) and Bitcoin Cash (+513%) are other notable performances this year.. However, Ripple is in a leading position with its focused drive to provide financial institutions with a Blockchain-based real-time payment solution. sells technology. Ripple is among the few cryptocurrencies with a focused value proposition. Early 2017 saw it rise from 0.006 (on December 30) to 2.85 US$ / XRP but that is just the tip of the iceberg. The long-term value of Ripple (XRP) is based on its capacity to leverage a service of $27 as discussed here.

Company CEO Brad Garlinghouse said:

“Ripple is committed to advancing its value in the same way that information advances today”

For Garlinghouse, Ripple is here to create a valuable internet, and to do so for, merging the repositories and doing the necessary. Since its inception, Ripple has actively connected banks, payment service providers, and MSPs with millions of dollars in assets.

Today, 27 trillion there are dollars. Ripple wants to provide a digital asset like XRP in real time. These transactions are divided into 3 on digital asset efficiency using XRP.

“In the long run the value of the token will be driven by its utility”

Commenting on the true value of XRP during a CNBC Squawk Alley interview, Garlinghouse said that in the long run the value of a token really benefits it. “Ripple is focused on creating real benefit and solving a real problem. In this case, in multi-trillion-dollar cross-payments, if we can reduce the friction here by using Blockchain technology, we can create high value for consumers, banks and the entire ecosystem “.

Any long-term value, according to Garlinghouse, is a derivative of 3 things:

What solves the problem ? –  The time and cost involved in cross-border payments in the case of Ripple

How big is this problem? – $27 trillion in funds held with financial institutions globally

How many customers does it have? – Anyone who wants to make real-time payments

Now Ripple uses its digital asset, XRP, to fulfill liquidity needs between banks. Payments are focused on just one Blockchain use case; In particular, cross-border payments.

Finally, perhaps Ripple will introduce other Blockchain use cases, but for now, the focus is clearly on payments.

“Today, there are 100 More than 1,000 banks are working with Ripple.”

Paying other banks in real time with real payment system, such as

JP Morgan or Citibank

Today, more than 75 financial institutions have commercially deployed Ripple’s XRP to their systems. case. Notable Ripple clients include MUFJ, Bank of America, Santander, RBC, BBVA, UBS, UniCredit, Standard Chartered, Axis Bank, SCB.

xCurrent – ​​Main motivation for adoption

xCurrent is Ripple’s enterprise software solution that enables banks to instantly resolve cross-border payments with end-to-end monitoring. Using XCurrent, banks message each other in real time to verify payment details before initiating a transaction and confirm delivery after delivery.

RippleNet Accelerator Program – To expand network

With the help of the RippleNet Accelerator Program, the company (Ripple) is investing $300 million to accelerate the network they’re already seeing and accelerate adoption. Through this offer, Ripple is offering a unique reward to financial institutions that offer the ability to process and promote commercial payments in the first RIP in their market.

xRapid – To facilitate payments to emerging markets

Ripple introduced a low-cost liquidity solution for payments to emerging markets. Payments in emerging markets often require pre-funded local currency accounts worldwide, liquidity costs are high. Using the digital asset XRP to provide on-demand liquidity, Ripple’s xRapid program significantly lowers liquidity capital requirements to enable real-time payments in emerging markets.

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