The stronghold of major cryptos in the market today is the community that supports it and not the developers. A cryptocurrency community determines how far a crypto will go. The community is usually established by firmly devoted people, perhaps because their money and investments are on it.
Ripple community is such a community that is zealous and ardent in which they hope to see the cryptocurrency achieve great strides. On the other hand, Ripple XRP is a cryptocurrency that is growing, and it is a transactional protocol designed on a distributed ledger network, which needs its users to take part in authorizing transactions than any particular centralized authority.
Ripple’s primary currency is XRP, and this cryptocurrency is a service that aims to give solutions to real-life problems such as blockchain solutions. Even though Ripple is a centralized platform that gives answers to issues such as daily transactions and other real-life actions, the driving force of Ripple community is the XRP, and not xCurrent, xRapid, or xVia.
The list of benefits of Ripple is massive, and lately, the platform expressed its passion for changing foreign payments experience for Small and Medium-scale Enterprises (SMEs). During the Money 20/20 meeting in Europe, Colin O’Flaherty, Global Commercial Services’ General Manager in the UK and VP of American Express in Russia stated:
“Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds and that provides a real opportunity to alleviate most of the issues our customers are facing.”
Subsequently, Ripple’s technology has been adopted by Amazon’s marketplace and Apple store. Even with all the services it renders, it is eminent that what makes Ripple community progressing and ticking is due to the idea that SMEs are adopting XRP and solving real-life problems that people are facing when it comes to daily transactions. Besides that, the community hopes that XRP will become a global payment solution in the future. XRP is really valuable, and this is what drives Ripple community today.
The Prospects of XRP
Right now, most cryptocurrencies are in the red, and XRP is not an exception either. However, with that in mind, Ripple community does not only see the current trends in the crypto-sphere today.
It is important to note that most XRP holders anticipate essential XRP projects that are in-line for the next few months. Let the future be future for now, the acceptance of the protocol as the primary token for cross-border payments by Western Union, Money Gram, and Santander launch of mobile XRP is sure to make the cryptocurrency boom in the near future.
Other projects like the implementation of cobalt protocol (an algorithm that enhances transaction speed), a partnership with Hyperledger (which will help to accelerate the development of blockchain application), and with Santander bank will help Ripple to edge out other cryptocurrencies in the market.
With all these projects at hand, Ripple community is inevitable that there will be an improvement in the current situation of the cryptocurrency which may lead to XRP being listed on major exchanges soon. But nothing is certain in cryptosphere, so we’ll have to wait and see. And yes, until the SEC doesn’t give clearance to Ripple, the company’s praise will stay affected as a whole.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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