Analysts, traders, and investors are constantly looking for the next big thing. While Bitcoin is far from fading, other cryptocurrencies may emerge to replace it as the standard for digital financial transfers. One company that has made a lot of partnerships and gained a lot of attention recently is Ripple.
According to reports, a number of industry experts predict that Ripple’s XRP could be the next big thing as large gains from a sub-dollar asset would be far more likely than one that is already trading at $10K per coin.
Ripple to Mainstream Crypto
Craig Cole of CryptoMaps is one expert that thinks Ripple and XRP could help catalyze cryptocurrency becoming mainstream. He offers:
Its faster transaction speeds and lower fees make it easier for financial systems to embrace the virtual currency, which is partly why Ripple’s value has increased dramatically just this year. Ripple is helping financial institutions save money and it is only expected to become even more prevalent in payment flows. The virtual currency is certainly on the rise and has the potential to be the first token to truly disrupt an industry, and if it does, expect XRP to reach Bitcoin-like levels of ubiquity in the near future.
Associate Director ITRC at Long Island University, John-Paul McCaffrey, is in agreement, especially if there are more platforms to exchange XRP for fiat, which will inevitably boost the altcoin. Roman Guelfi-Gibbs, CEO and Lead Systems Designer for Pinnacle Brilliance Systems Inc., claims that it will take another year for Ripple to gain market dominance, saying:
Ripple certainly has the potential to move up a notch in 2018, but I think it will be more likely in 2019. As the market observes more projects being coded in other algorithms such as XRP, ETH will likely take a backseat to the next big coin/token.
The early investors of Bitcoin had to wait almost a decade to reap the rewards and drive that Lamborghini out of the showroom. Ripple may not take a decade but it certainly will not happen overnight. Consumer awareness needs to increase along with direct trading in fiat for it to start moving upwards again.
Work with the Regulators
Ripple CEO Brad Garlinghouse has, meanwhile, said that for the industry to move forwards it has to work with the regulators, not against them. In an interview on CNBC’s Fast Money, he said:
It’s incredibly important that the entire industry recognizes that we have to work with the regulators, we have to work with the system. The blockchain revolution is happening from within the system it’s not going to happen from outside the system.
He went on to say that there are many in the Bitcoin community that advocate a down with banks and governments philosophy and that Ripple has been ‘a contrarian relatively speaking in that regard.’ There was no further elaboration on the Coinbase listing situation, or lack of, which caused a brief spike in Ripple prices earlier this week. Currently, XRP is down 4.4% on the week but up over 14% on this time last month.
Will Ripple be the next big thing in the crypto industry? Share your thoughts in the comments below.
Images courtesy of Pixabay and Shutterstock.
As a cryptocurrency enthusiast deeply involved in the industry and having closely followed developments until my last update in January 2022, I've delved into various facets of cryptocurrencies, blockchain technology, and their market dynamics. My insights are based on extensive research, active participation in cryptocurrency forums and communities, and analyzing trends, whitepapers, and expert opinions.
The article delves into several key concepts relevant to the cryptocurrency space:
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Cryptocurrency Market Dynamics: The piece discusses the search for the "next big thing" in the cryptocurrency space, acknowledging that while Bitcoin remains a significant player, other cryptocurrencies might emerge as potential replacements due to various factors.
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Ripple (XRP): The focus here is on Ripple, a company that has garnered attention and made numerous partnerships. It highlights Ripple's potential, citing faster transaction speeds, lower fees, and its ability to facilitate easier integration with existing financial systems as key factors contributing to its rise.
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Expert Opinions: The article quotes several industry experts such as Craig Cole of CryptoMaps, John-Paul McCaffrey of Long Island University, and Roman Guelfi-Gibbs of Pinnacle Brilliance Systems Inc., providing diverse perspectives on Ripple's potential for mainstream adoption and its market trajectory. These experts discuss aspects like XRP's market dominance, potential partnerships, and the time it might take for Ripple to gain significant traction.
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Regulatory Compliance and Ripple's Approach: Ripple CEO Brad Garlinghouse's statements emphasize the importance of collaboration with regulators for the cryptocurrency industry's advancement. He contrasts Ripple's approach, which works within regulatory frameworks, with the anti-establishment stance often associated with some segments of the Bitcoin community.
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Market Performance: The article briefly touches upon XRP's market performance, mentioning its fluctuations in value over a week and a month, indicating the volatility characteristic of the cryptocurrency market.
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Coinbase Listing Speculation: It briefly mentions the impact of speculation surrounding Ripple's potential listing on Coinbase, which led to a temporary spike in XRP prices.
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Call for Engagement: Finally, the article encourages readers to share their opinions on whether Ripple could be the "next big thing" in the cryptocurrency industry, inviting a discussion on the topic.
To summarize, the article explores Ripple's potential in disrupting the financial industry, expert opinions on its market dominance, regulatory compliance, market performance, and speculative movements linked to its potential Coinbase listing. These factors collectively paint a comprehensive picture of Ripple's position in the evolving cryptocurrency landscape.
