Undervalued Ripple to attract the traders, in spite of the introduction of Libra
Recently, Brad Garlinghouse, CEO of Ripple, shared his valuable inputs on the cryptocurrency market, along with his thought on the future of Ripple in the Cryptocurrency market. Brad reiterated to the crypto community, that he has always been a staunch supporter of Bitcoin from the beginning. He really liked the way, how Bitcoin allowed others to improvise its source code, in order to develop a more feature rich platform. This included the development of peer to peer payment without any intermediaries. Ripple can also take a cue from this, and innovate itself to make its platform more feature rich.
Why does Brad think Ripple could be the next biggest thing?
1) It caters to a specific segment (Peer to Peer payment systems that are used by financial institutes worldwide).
2) It is energy efficient.
3) It relies on a common shared ledger.
Hence, these are some of the features which have helped Ripple to sustain in the crypto market.
Ripple already developed a market for itself with the help of xCurrent, which helps banks as well as other financial institutions to settle cross border payments. On similar lines, it has introduced xRapid, which helps the payment provider to minimize the liquidity costs. Even though xRapid is not as popular as xCurrent, it is gradually picking up. Brad maintains that once the regulatory, as well as middleware issues, are resolved, XRP is going to pickup at a faster pace in the market. Moreover, once banks upgrade to xCurrent version 4, by default xRapid will be incorporated into it.
Ripple’s XRP has managed to remain steady, even after the announcement of Facebook’s Libra. In a longer run, Ripple aims to replace SWIFT which is the current fund transfer platform. While Ripple currently trading at 44 cents remains undervalued and has got a target of 80 cents.