Shortly, Ripple’s goal is to have a one-world currency that can be used in every country. The user base has grown beyond its initial expectations and some believe it could become a huge success. If Ripple manages to gain the trust of investors and continue to develop on its current trajectory, then this may be the new standard. The future of cryptocurrencies is heavily shrouded in mystery but with so many people already investing in this project, it could soon become a widely accepted method for transferring both currencies as well as goods between countries. The thing which sets Ripple apart from many other cryptocurrencies is the fact that it is a fully open-source project.
According to the developer’s website: “Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally. We hope that the technology empowers people with greater access to financial services around the world.”
The One World Currency: Will Ripple Become the New Currency?
It was only a year ago that the Ripple cryptocurrency opened for trading and this week, it’s been making headlines. The reason for the recent surge in price is down to a major partnership between the currency and Santander Bank. This is huge news for the project as some analysts have predicted that it will soon become a standard method of exchange. If Ripple successfully grows to become a global currency, then it could be in direct competition with rival cryptocurrencies such as Bitcoin and Ethereum.
Predictions in progress
[Pos] Current Profit#BTC[Long ] +0.0#ETH [None ] +0.0#ADA [Long ] +3.4#SOL [None ] +0.0#XRP [Long ] +0.9#BNB[None ] +0.0#DOGE [Long ] +0.5#AVAX [Long ]+14.7#TRX [Long ]-10.8#Binancehttps://t.co/hlcM7LCbXN pic.twitter.com/O3EdR2eKaG— Cryptocurrency Price Prediction (@cryptojohnsmith) July 4, 2022
Making the project’s future look more secure is the fact that it is already a widely accepted method of payment. Many companies use Ripple to connect with banks and other payment providers around the world and this makes it seem like a far more stable currency than many of the others.
The One World Currency: Will Ripple Become the New Currency?
“If you look at Bitcoin then there are very few takers and they are all early adopters.” — David Schwartz, the chief cryptographer at RippleWilliam Mougayar, founder of Virtual Capital Ventures said: “Ultimately we think whenever this cryptocurrency makes its way into mainstream adoption, we believe that will lead to significant growth for cryptocurrencies as well as blockchain technology as a whole.
At present, Ripple works with 4 different banks, with plans to expand this number to 18 later this year. At the moment their primary aim is to partner with more banks and encourage adoption by banks within individual countries as well as via central banks. As more people invest in Ripple and become involved, it could become a global currency rather than being overlooked by most individuals. If this happens, then it could finally become a major player.
The Rise of Ripple: Will it Be Better Than Cryptocurrency?
As cryptocurrency rises to mainstream fame and awareness, there has been a wide range of different cryptocurrencies that have thrived. However, Ripple is one of the few that has gained significant attention and promise. The currency has made headlines this week as it approaches Bitcoin in terms of its current market capitalization. Even though Ripple is facing increasing competition from rival crypto-currencies, it is still considered to be a serious player within the industry. Many different things make Ripple stand out from the crowd:
The cryptocurrency is already being used by some major financial institutions including Santander and UBS. They are already utilizing it because they view it as being more efficient than many other payment methods currently available.
The One One World Currency: The Future or a Trend?
Ripple is already being developed and the currency is already being traded in a wide number of different exchanges around the world. This gives it a significant advantage over its rivals. The reality is that Ripple has demonstrated that it can manage real-world partnerships with real-world results.
As it stands, the currency still has some way to go until it overtakes Bitcoin or Ethereum as one of the leading currencies within the industry. Despite this, many experts believe that this may not be too far off into the future. Many analysts have predicted that Ripple will soon become a major rival and even take over as one of the leading cryptocurrencies on the market.
