The world of cryptocurrency is so wide open that it can feel difficult to find a new play for your portfolio. Everyone is looking for the next great play, the next Bitcoin, that they can ride to unprecedented success. Though there may not be another Bitcoin out there, one token is worth checking out: XRP.
When checking the XRP price at https://cryptomarketnews.com.au/price/xrp/, it is hard to miss the substantial growth that it has already achieved. With many expecting a bullish cryptocurrency market, is now the right time to make the jump into the XRP market?
It’s Better Than the Competition
One of the driving factors behind XRP is simply that it is a better option compared to the legacy money-transfer systems that it was ultimately created to replace. As it stands, the go-to, the Society for Worldwide Interbank Financial Telecommunications (SWIFT), is far inferior when compared to XRP’s international money transfers.
Transactions under SWIFT can take as long as five business days, while XRP is processed in a handful of minutes. On top of that, it costs anywhere from $10 to $30 to conduct a transaction on SWIFT, not to mention the international exchange fees that are tacked on at the end. Transactions via XRP are less than a penny with no additional fees.
If that weren’t enough, SWIFT is a legacy technology, something that can be replaced (and will be by XRP). As XRP and other services take over, it will no doubt do wonders for the growth of this token and cryptocurrency.
A Strong Relationship with Regulators
XRP has a less than thrilling relationship with regulators. Look no further than Ripple, the company behind XRP, being sued by the Securities and Exchange Commission (SEC) for selling XRP as an unregistered security. While that isn’t ideal, things appear to be improving.
With a new, pro-crypto presidential administration in place, regulators seem to be far more flexible and amenable to working with entities like XRP. Brad Garlinghouse, founder of Ripple, even met with the president and has been appointed to the new cryptocurrency advisory council. There is a pro-crypto push coming in the United States, and XRP could benefit greatly.
A Massive Network of Users and Collaborators
The entire goal of XRP is to make it easier for financial institutions like banks to transfer money, particularly across borders. In order to do that, XRP has to have a massive network of users. Given the fact that XRP allows users to board on a trial basis, it stands to reason that XRP will see a major increase in value over time.
As much as the huge user base is beneficial, it is the network of collaborators that has investors excited. XRP has already been assisting financial institutions with international transfers, both on a permanent and preliminary basis. But when you stop to consider the names using XRP, that’s where excitement really starts.
XRP has relationships with names like American Express, Bank of America, and Banco Santander, among others. There are even financial institutions from China, India, and the U.K. starting to partner up with XRP. The more major institutional investors that join the fray, the better things will be for the price of XRP over time.
Conclusion
A quick look at XRP, and it is easy to see why it has become a hot topic. As markets like Australia continue to invest heavily in cryptocurrencies, it only stands to reason that XRP could be one of the next tokens to experience a major surge in price. Will you be on the train at the right time?
Similar Street View images
International Tourism Souvenir Import and Export Logistics: Navigating Global Trade Paths
From House-Hunting to Homecoming: Steps That Really Make a Difference
New Energy Vehicles Help Self-Driving Tours Revolutionize Travel
5 Innovative Road Safety Technologies Crucial for Saving Lives
Why Every Street in the US Needs Fire Hydrants
What happened to this abandoned hotel in Prague?
Making the Most of Street View Before Exploring a US Wine Region
How to Choose Tourist Accommodation: Tips for a Comfortable Stay
Google Maps now displays the Gulf of America
Reasons to Choose Custom Essay Writing Services
