XRP (Ripple), founded in the year 2012, the founders, David Schwartz, Ryan Fugger and Arthur Britto take pride in witnessing the recent series of successes by Ripple. XRP took a major leap after the latest version was released on February 20th, 2018 and even managed to acquire the second position in the CoinMarketCap, replacing Ethereum (ETH).
Ripple Inc., San Francisco, is aware of the non-updated payment infrastructure on a global scale which is much needed. In fact, they believe that operations of businesses are unnecessarily delayed by the current banking system which depends upon the age-old infrastructure. They said:
“…the payment infrastructure of the world has not changed since the pungent day of disco, almost forty years ago.”
RippleNet on the other hand struggles to reduce transaction costs, speeds up the transaction system and gathers a level of certainty to cross-border payments. The countries that are expected to benefit from cross-border payments are China, India and Brazil. The cross-border payments had increased by 3.4% which amounts up to approximately $466 billion this year alone, reports the World Bank. Ripple had shaken hands recently with XCurrent, RippleNet and XRapid, some of which are part of XRP ledger. As a matter of fact, the adoption of these products also participate in multiplying the adoption of XRP. This suggests a massive prospect for Ripple.
As for the prediction of 2019 for XRP, it is expected to continue its trend of success. Ripple is expected to reach new peaks and reach them as well. This is evident in the fact that Ripple is adding new clients at a consistent frequency. Financial institutions are using the Ripple protocol to transact money to the different spheres of the globe.
At the time of writing, Ripple (XRP) is currently trading at $14,562,184,045, priced at a minimal $0.356968 and a circulating supply of 40,794,121,066.
A very recent and major achievement for Ripple is that the American payment services giant Visa Inc. is acquiring Ripple partner Earthport Plc, a payment network for cross-border transactions, as reported by Reuters U.K. Earthport is a financial services firm which offers cross-border payments service to banks and financial institutions, founded in the year 1997 in London.
The partnership of Earthport with Ripple aims to integrate the Ripple protocol into the firm’s existing payment network in a hope to improve international transactions. Originally, Visa was interested in acquiring Earthport as part of its promise to expand its cross-border payment services business which reportedly spiked by 10% in this year alone. Earthport’s clients include Ripple, the Bank of America, Hyperwallet, Payoneer, TransferWise and Japan Post Bank.
The CEO of Ripple opines that XRP remains the only cryptocurrency to have integrated payments systems of big banks successfully with its platform. It even has the possibility to surpass the age-old Bitcoin (BTC) in terms of market cap.
To promote the blockchain technology, the CEO of Ripple had donated about $50 million to as many as 17 Universities all over the world.