On a six-month chart of Ripple (XRP), the coin just broke above its 50-day moving average.
That now puts it above its downward sloping channel. If it can maintain this momentum, we could see a potential test of a July high just above 50 cents.
Granted, it’s all a wait and see at this point.
But there’s reason to get excited about Ripple going forward
For one, the team is expected to launch a commercial version of its payment platform, xRapid in the next month or so. Reportedly, the product is a real-time settlement platform designed to speed up international payments.
It also addresses the issue of “minimizing liquidity costs and making cross-border payment transactions faster. xRapid claims to significantly reduce the capital requirements for liquidity,” as reported by CNBC.
Analysts believe Ripple could run to $5 by 2019
One of the many reasons for this is its speed.
According to Bitcoin Exchange Guide, “Before the system update, Ripple could handle only 1,500 transactions but now can process up to 50,000 transactions per second. This is over double the number Visa can handle with 24,000 only. This makes Ripple the fastest transaction processing platform in the world.”
Another reason is adoption.
According to Smarteum:
“RippleNet reduces transaction costs, speeds up transactions, and bring together a level of certainty to cross-border payments. Smaller transactions in developing markets such as China, India, and Brazil will benefit more from cross-border settlements platforms that don’t cost much or take several days.”
“Cross-border payments will increase by 3.4 percent or about $466 billion this year – according to the World Bank. Ripple is presently at the vanguard of the industry, and it has partnered with more one hundred payment providers and banks. Ripple is the firm with products such as xCurrent, RippleNet, and xRapid, and some of these products work with the XRP ledger. So as the adoption of these products increase, the adoption of XRP also increases, and this might have a significant effect on its value in the near future.”
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