It is not a far-fetched goal for Ripple XRP to become the next big cryptocurrency given the fact it is the third-largest crypto in the world in terms of market capitalization (or its total value) even though the token is nowhere near its rival Bitcoin. The fact that Ripple has partnered with JP Morgan is proof that XRP has something special that has managed to attract even the strongest of the BTC critics. Major financial institutions are already looking out for ways to implement the use of XRP in their traditional banking systems. For example, MoneyGram announced that it would use XRP to improve transaction speed and cut down the charges of its money exchanges.
The XRP token has shown signs that it could topple its more famous crypto competitor, provided its adoption is expanded. Given below are some of the technical advantages of XRP over BTC.
|Ripple XRP vs. Bitcoin|
|Transaction time||Only seconds||Lasts a couple of minutes|
|Transaction fee||Is high||Is next to negligible (ultra-low fees)|
|Coin Supply||100 billion||21 million|
|Transaction per second||10 (approx)||1.500|
|Energy cost per transaction||250 kWh (approx)||Minor|
Latest Ripple Analysis
Following a breakdown in price on March 12, 2020, XRP has failed to surpass the $0.20 resistance level on two different occasions, according to Ripple News. Experts opine that the token should avoid dropping below the $0.17 support level in the immediate future to sustain in a bear market. If XRP succeeds in breaking the $0.20 level, its next hurdle would be to get past the daily 200 moving average. XRP supporters hope that the upcoming BTC halving event will help the wider crypto market see an uptrend. However, many analysts have predicted that the halving could continue the cryptocurrency macro downtrend.
Despite the COVID-19 wreaking havoc on capital markets, Ripple XRP has surprisingly balanced itself well by remaining relatively undisturbed. It opened 2020 at the same price it is currently, even though it tends to oscillate in both directions. You can know about the Ripple Price Prediction from our other pages.
Ripple’s Current Status
Witnessing the growing interest of major banks and institutional investors in Ripple in recent times, it could be confidently stated that the XRP token is in the process of changing the traditionally held views toward the crypto ecosystem with an opportunity to surpass the value of BTC. But again, this change is at the mercy of time. The Ripple system may score better than the BTC system in terms of lower transaction fees and lower processing time, but the latter is far more widespread, well known, and publicly operated, unlike Ripple, though decentralized, is privately operated. No doubt, XRP will expand, but as far as its role in the blockchain future is concerned, only time will tell.