Ripple XRP is without a doubt a coin that has managed to penetrate deeply into the banking systems and financial services, especially in oppose to its peers. That is how Ripple has as of the most recent case went live in Europe with Santander and their mobile application for global payments, as well as entering the partnership with the prominent Shift markets and Ian McAfee. While banks and financial services are favoring Ripple’s technology over blockchain protocols found in other assets, a great portion of crypto investors is still facing a doubt when it comes to investing in XRP. Here is why.
Ripple and xCurrent Relationship
Ripple XRP seems to be everywhere around the news and online headlines, especially being linked to various banking and financial institutions across the globe. As of the most recent events, it is also considered that Ripple is being pushed by the Japanese government, making this asset their all-time favorite, so Ripple seems to have a bright future in banking and in the financial industry.
More than a few banking and financial institutions have gone forward with deciding to go for Ripple’s system called xCurrent. Since Ripple is penetrating the market of the banking industry, easily becoming a part of various financial services, that way finding its way towards mass adoption as the future of banking, a great portion of crypto investors can’t seem to forget that the most popular Ripple’s system (product), which is xCurrent, doesn’t need XRP in order to work.
Ripple has three products in total, xCurrent, xRapid and xVia, however, only one of those products actually needs XRP, which seems to be neglected in the business policy of Ripple Foundation.
While xCurrent is often chosen by banking institutions as the system of choice, even though the banks are slowly adopting the idea of using this kind of technology for making a faster and safer ecosystem for making fast global payments, banks are not in the mood for considering XRP as they do not accept the idea of digital assets. They only need the technology, and that is why the banks are not using xRapid, which actually needs XRP, but chooses xCurrent instead.
That is how the relationship between Ripple foundation and xCurrent seems to be strong, while xRapid is being neglected by the banks, as well as the team when it comes to pushing Ripple’s technology into the “real world”.
Ripple is Neglecting XRP
Ripple XRP has made it to raising 128 billion dollars in a period of a pretty short time, which makes it the third-best crypto and one of the most promising coins in the market, however, Ripple foundation has shown more than several times that they favor Ripple technology over their digital asset XRP.
The team has also stated numerous times that they don’t consider XRP to be a coin or a token, but they rather see it as a digital asset, while stressing out that they are not pushing XRP towards mass adoption, but Ripple’s technology.
That is probably one of the main reasons why some investors are still doubtful about XRP and its purpose in the market, given the fact that XRP only powers xRapid, and Ripple foundation is pushing xCurrent towards mass adoption.
That is how it is generally considered that Ripple is neglecting XRP in oppose to its other technology like xCurrent and xRapid. However, Ripple seems to be playing for both teams, as XRP is well and alive in the market. It is only the case that the Ripple team seems to be staying on top of the trending list on Google when it comes it its adoption in the banking industry, not in the terms of blockchain technology and digital currencies.
Ripple (XRP) Is Less Likely to Become a Currency
While the majority of blockchain-based projects are aiming at bringing their tokens and coins to the point where these assets could become the alternative currencies, Ripple seems to be neglecting that part of the bargain as well.
While we immediately think of Bitcoin when you start considering the idea of having a digital asset becoming a widely accepted global currency, XRP somehow doesn’t fit that frame, which makes Ripple a more interesting phenomenon in the world of banking and financial services than a potential currency of the future.
This might be another reason for having hardcore crypto investors and enthusiasts staying away from Ripple in the terms of investing in XRP.
However, since Ripple’s main objective seems to be entering the banking industry with xCurrent and xVia, Ripple seems to be doing more than well, while XRP is still holding onto the spot of the third-best currency on the global coin ranking list.