Ripple functions as a cryptocurrency and a digital payment solution for transactions. Crypto’s birth began in 2012 and has recently gained a ton of attention in the media and is constantly floating between the #3 and #4 spot on coinmarketcap.
What makes Ripple so great is for the simple fact that it solves a ton of problems. The services and products offered by ripple are focused on banking institutions doing a massive amount international and domestic transactions.
When these institutions do hundreds of thousands of transactions per day, their costs are constantly monitored and tracked and also negotiated. Banking institutions want these transactions to go through quickly and in a cost-effective way. Ripple enables banks to send thousands of transactions per day at lightening speeds at a fraction of the cost of other competitors.
Ripple not only solves company wide problems, but with the current adoption of blockchain in many countries, it is solving global problems. There is not only a massive need for Ripples technology, but there is also a massive demand.
Many people get caught up in the fact that Ripple has a massive supply of coins, about 100 billion and believe that due to this it doesn’t have the potential to experience serious gains. When you begin to think of the intended use of Ripple and how many transactions big institutions do on a daily basis, the supply is completely justified. There is a reason as to why the supply is so high and that is in order to support the massive volume of transactions done by global banks on a daily basis.
So to the haters of Ripple saying it will never go above $10, you are simply misguided. It has the potential to go above $10, but it will do it at a much slower pace than the other cryptos. It has a fundamental price stability that is valued by banking institutions. Ripple is not only an idea spit out of thin air, it is already adopted by major banks and institutions and its being used on a daily basis.