Ripple XRP

Welcome back to the Tribe! In this post we are going to discuss a controversial question: Is there still a need for Ripple XRP?

We hope everyone reads this post with some reservation. There are many perspectives on the market about many projects, and this is just ours on one specific asset.

Nothing should be considered investment or financial advice. Enjoy the ride!

Ripple XRP

We are not going to lie, Ripple was one of the biggest projects we first invested in back in 2014. In addition, if you want to fully learn about the project, then check out our blog post here.

Ethereum was still a small flame back in 2014 time, similar to Ripple, but both projects showed huge promise. In those early days, we made the decision to give Ripple a try over Ethereum, which ended up paying off big time in the $3 run it made back in 2017.

For those that are unfamiliar with the project’s origins, one of the main characters that gave Ripple life was a man named Jeb McCaleb. Jeb is most notably known now-a-days for founding Ripples direct competition, Stellar. This was due to a falling out of sorts, but ultimately, shows that the man behind Ripple’s origins had many visions in mind.

Ripple was originally supposed to be the Bitcoin for traditional banking. A way for international entities to make large settlements instantly and nearly fee-lessly. Although, the company behind XRP tries to keep a clear distinction from the digital asset for litigation purposes. Regardless the two work hand and hand to offer products like:

  • xRapid – Payment providers use xRapid to source on-demand liquidity
  • xCurrent – Banks use xCurrent to process global payments for customers
  • XVia – Businesses use xVia to plug into RippleNet to send payments

In short, Ripple the company offers products that institutions can use that leverage the digital asset XRP in multiple ways.

Do We Still Need Ripple?

Well that is the main question right?

Ripple lost a lot of ground in the past 2 years from FUD, SEC lawsuits, market dumping from the company behind it, and community fall out.

While this served to put a bad taste in the market’s figurative mouth, it ultimately costed the asset the top 3 spot in the industry. Now, it is still clinging to a top 10 spot, but without intervention or a huge victory over the SEC, the asset seems to be spiraling downward in terms of market presence.

Besides it’s market share, the utility behind the entire project is coming under question. Specifically, the liquidity portion of the project.

While Ripple aimed to provide the world’s largest institutions with a form of instant settlement, there are many layer 2 solutions currently being developed on Bitcoin and Ethereum that could arguably make the entire idea of Ripple obsolete.

Final March

Due to the layer 2 solutions, Ripple could be on its last leg of utility.

While it still holds value to the market as an asset, it will more than likely never accomplish it’s ultimate goal of becoming the traditional bank’s solution to things like Swift. Likewise, Stellar is in the same boat but worse due to its even greater lack of exposure base and further lack of utility.

Although, there is still a small light at the end of the tunnel.

Given Ripple can win its SEC lawsuits fully, be declared not a Security moving forward, there is still a chance that some where in the private sector it gets picked up. Either for a companies internal international exchanges or for some sort of specific use-case that is yet to be known. It should be looking to specific industries that it can sneak into besides only banking. Many companies are looking to have more control of their assets and finances. Ripple might just offer that package to someone or some huge network of companies looking to fully track and control the financial system underneath it.

Like Bitcoin Cash, NEO, and Litecoin, it currently looks like Ripple XRP’s days are numbered at the top of the market. This coming from people who previously believed in the project and loved it.

The other clear skeleton in the closet is the CONSTANT dump of XRP onto the market by the previous founder Jeb and the company Ripple to try and fund further development and partnerships. This is only serving to further limit XRPs recovery and overall lifespan.

Ripple XRP price

Currently, Ripple XRP price is sitting just over $1 and in the top 7th position on the market. While still not in a terrible position, it is a long way from the previously held top 3 position and 2nd position for a brief time over Ethereum.

Ultimately, we expect the XRP price to continue to drop in comparison to the other top asset on the market in the following years UNLESS things drastically change soon. Slowly, it looks like it will move out of the top 10 and eventually become a memory of the early days of the crypto wild west market.