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Ripple is Considered to Have a Stable Digital Currency in the Form of XRP

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The year 2017 has been pretty positive for Ripple so far. The company has made significant strides over the past few months. Additionally, the value of the native XRP token has shot up dramatically as well. Some sources feel Ripple is emerging as a stable and trust digital currency. That is a major validation, to say the least. It will be interesting to see how that situation evolves over the next few months.

Finding a stable digital currency is virtually impossible these days. Neither Bitcoin nor Ethereum can provide that trait right now. Both currencies suffer from heavy price volatility on a regular basis. Ripple’s XRP is quite different in this regard. It also serves a very different purpose compared to both Bitcoin and Ethereum. It is a solution tailored toward banks and other financial institutions, rather than a speculative tool for day traders.

Ripple is Doing What Bitcoin and Ethereum Can’t

One could argue Ripple’s token is both a cryptocurrency and a digital payment network. It is not something tailored for consumers to use directly. However, they will gain access to faster and cheaper payments through financial institutions embracing the Ripple Consensus Ledger. XRP Is powering these faster payments, which serves as a reliable and on-demand option to provide cross-border payment liquidity.

With the upcoming XRP escrow lockup, things will get very interesting. Alleged supply manipulation has always been a cause of concern for Ripple. Ensuring the vast majority of tokens can’t be accessed means there are only so many XRP to go around. This also means anyone can determine how many tokens can enter the market at any given time. Whether or not this will affect the XRP value, remains to be seen, though.

With the Q2 report out in the open, things are looking quite good for Ripple. If the company can keep up the current trend, XRP adoption will peak through Q3 and Q4. At one point, the token was up over 6,000% compared to a year ago. Additional liquidity on exchanges for XRP will certainly help matters more along. Additionally, the Ripple global network is increasing exponentially as well. Things are looking very promising for this project, that much is evident.

Header image courtesy of Shutterstock

JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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