Ripple (XRP) – Why BTC Might Want To Start Getting a Little Terrified
Our recent article ‘Could Ripple XRP Be About to Hit Mainstream Retailers,’ was received with some controversy. In that article, however, we simply looked objectively at how over 2017, Ripple (XRP) executives have been positioned in a way which is suggestive of a future attempt to dominate various world retail payment markets.
Fast forwarding just 24-hours and it looks like this might already be happening.
After initially partnering with Singapore bank Standard Chartered and UEA Rakbank on November 22nd, Axis bank in India has begun rolling out Ripple based instant retail payment channels. What should perhaps be of more concern to Bitcoin, however, is the fact that Ripple (XRP) isn’t satisfied with just monopolizing the Indian retail market. To top that, Ripple XRP now also wants a slice of cryptocurrency exchange Coinbase.
Will a Change.org Petition Soon See Ripple be Given the Spotlight on Coinbase?
At present, people looking to buy Ripple XRP can only do so by either buying Bitcoin and exchanging this via Changelly, or by using internationally scattered exchanges such as Kraken, Gatehub, and Bitstamp. In July, however, a Change.org petition was started to have Ripple XRP also listed on Coinbase. What is more, this petition has already received over $10,000 signatures, at least 6,000 of which just came out in support of the petition after it was featured on Ripple’s own Twitter feed.
The Difference Between a Bitcoin Breakout and a Ripple Breakout will be that the Latter is Planned to Precision
As it stands, it is starting to look like Ripple has something very big planned for 2018. Much more importantly, what people need to understand is that a Ripple break out won’t look anything like a Bitcoin break out.
At present, Ripple is sat in the corner of the cryptocurrency classroom like the odd one out who everyone suspects will turn out a bit odd when he grows up. What people don’t realize, though, is that while the limelight of popularity is falling at the center of the stage on Bitcoin, Ripple XRP is planning.
On November 1st, 2017, while all eyes were glued to a $5,000 Bitcoin, Ripple was hosting a Fintech cross-border payments conference at the Carnegie Hall in New York, attendees of which included IMF representatives. Much more importantly, while Bitcoin has spent 2017 arguing about segwit 2x and forking three different ways, Ripple has simply sat quietly and became the first ever digital currency to become compliant with most worldwide monetary standards and regulations.
In short, when Ripple breaks out, it could very well tear Bitcoin to shreds in a matter of hours. In fact, it could well be like putting a shark in a Koi pond.
Why Bitcoin & Altcoins Like Litecoin Need to Start Competing More Against Ripple
At present, Litecoin is the only digital currency on the cryptocurrency market which seems to be striving toward anything like a real-world vision of mass market adoption. This is because at being able to process 56 transactions per second, Litecoin is the only top market cap (and decentralized) digital currency which can compete with anything like Ripple XRP and its 15,000 transactions per second.
Of course, many digital currency enthusiasts still refuse to acknowledge the growing threat and potential of Ripple, simply out of principle. While, however, Bitcoin and others might have pioneered the future, it is important to remember that if Bitcoin really wants to continue to play a part in the future as it envisions it, it will need to start innovating at some point.