XRP (XRP): More Customers For Ripple Mean A Higher Price For Ripple’s Token
Just a few years ago, very few people were aware of the cryptocurrencies market and their underlying blockchain technology. In reality, back then, the crypto-related technologies were not as advanced as they are nowadays. However, in a recent report by D.H. Taylor from Seeking Alpha, the author debates the situation of the crypto industry and says that more customers for Ripple mean a higher price for XRP (XRP), Ripple’s token.
“Ripple is one that I love tremendously, and it is not because of the fact I’ve had a decent ride on my purchase. Besides, my friend says he doesn’t even really bother with Bitcoin anymore and is going all in with Ripple. Nonetheless, I am adding more XRP (XRP) into my basket and here are some of the reasons why,” wrote D.H. Taylor in his six-page report on Seeking Alpha.
Taylor has an experience of more than 25 years in investing in currencies, so when cryptos emerged, it was impossible for him not to turn to them. For him, Ripple and its XRP (XRP) are ideal for solving the issues of the current cross-border payments systems.
More customers for Ripple mean a higher price for XRP (XRP), Ripple’s token
Recently, Ripple and its payment platforms such as xRapid (which involved XRP) and xCurrent signed many significant partnerships for it. Among all the deals Ripple signed, notable are those with Western Union, Santander, UBS, UniCredit, Cuallix, SBI, and MercuryFX, among others.
“Ripple is based around a shared public ledger, the XRP Ledger, which uses a consensus process that allows for payments, exchanges, and remittance in a distributed process. The network can operate without the Ripple company,” mentions D.H. Taylor from Seeking Alpha.
Also, according to Taylor, more customers for Ripple mean a higher price for XRP (XRP). “The more usage the currency [XRP (XRP)] has, the more successful it will become. The costs of money remittance via the Ripple platform is negligible, whereas other cryptocurrencies, such as Bitcoin, are more expensive,” he added.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.