2018-9-5 22:39 |
XRP (XRP)–Despite the cryptomarkets showing a slight recovery over the last several days, XRP has failed to regain any significant ground in the plunging price of the third largest currency by market capitalization. As reported by EWN earlier in the week Satis Group, an ICO and cryptomarket analyst firm, published a 10 year forecast including some of the more popular coins in the industry.
While Monero XMR was predicted to have the strongest appreciation throughout the decade-span, with Bitcoin also posting positive numbers relative to the current bear trend, the group found XRP to have a historically bad outlook ahead. Even with the currency already sitting on a 91 percent erosion in value since the last all time high experienced in January, Satis’s model predicted XRP to be worth a penny within the next twelve months, and falling further to a fraction of a cent by the end of the decade. While Bitcoin is projected to reach six-digit figures along its current growth curve, Satis finds fault with XRP and its relation to the parent company Ripple, which has made efforts over the last year to distance itself from the digital asset. Speaking on the relationship between Ripple’s payment portal and XRP, the group finds XRP to hold, “very little value in networks that are misleadingly marketed and not even required for use within their own network”
That being said, while Satis has provided a useful forecast and an interesting take on market trends by predicting cryptocurrency anonymity will supersede the value of decentralized applications (DApps), thus explaining the meteoric rise in Monero, XRP has the opportunity to break from the mold. Satis is correct in pointing out that XRP investors are in a conundrum if looking to the former parent company Ripple as a litmus test for the health of the currency: while Ripple is the primary user and driver of XRP adoption, their payment protocol can function without the cryptocurrency–which is an option certain companies such as American Express have capitalized on in the past.
However, Ripple still holds some incentive in the promotion of the currency, even if they are actively working to turn over centralized control the broader investment base. For one, Ripple is the largest holder of XRP, to the tune of 60+ billion coins (the vast majority is locked in escrow for the next half-decade). Saying that Ripple would look to abandon their original project is making the claim that the company is willing to devalue a major asset they hold majority share over.
XRP has also found a strong adoption base in developing countries and those with large populations that have limited access to financial institutions or banks. Speaking of their currency penetration in India, Ripple executives have estimated a near 50 percent share of the cryptocurrency market in the country, with the majority of adopters looking to XRP for more than just an investment vehicle. With the inflationary crisis playing out in Venezuela real time, cryptocurrency has an interesting incubator to test the effects of a population turning to the alternative of government fiat.
While the primary cryptocurrency in Venezuela, and around the world, is the market leading Bitcoin, DASH has seen a surge in popularity for its transaction focused utility and improved wait times and fees over Bitcoin, with merchant adoption growing at a de novo rate of 200 per month. However, the very same adoption for DASH as a transactionary focused coin could equally apply to XRP, if given the chance. XRP has built a name as a remittance coin and one that could be favored by banks and financial service companies for its cost-saving measures in moving money globally. Already pilot programs are underway with Western Union and Moneygram, with Mexico-based Cuallix also reporting increased efficiency from using the coin. The average person could glean the very same benefit of using XRP as a digital tender, with transaction fees costing a thousandth of a penny and transaction speeds under ten seconds.
While Satis is making a bold prediction that the industry will move towards anonymity and offshore money storage, the same argument could be applied in a situation where more citizens around the world look to cryptocurrency as a true alternative to government fiat.
The post How XRP Can Have a Better Price Outlook Than Satis Group Predicted appeared first on Ethereum World News.
Similar to Notcoin - Blum - Airdrops In 2024
Ripple (XRP) на Currencies.ru
|
