Ripple XRP might be one of the most controversial currencies in the market to this date, also being one of the fastest as claimed by the CEO and founder of Ripple, Brad Garlinghouse.
As the controversy in the first point relates to the fact that the Ripple foundation faces several charges on the matter of supposed centralization, also being accused of using XRP for the personal ventures of the foundation, Ripple is having some time off the negative news as all accusations were dismissed, followed with the announcement that the foundation will be advocating for xRapid.
xRapid is actually the only product made by the foundation that actually utilizes XRP, so in the spirit of pushing the adoption of their native currency, there are already banks in line for testing XRP and xRapid the same way xVia and xCurrent are being used and tested.
Moreover, Garlinghouse claims that XRP is as 1000 times faster than Bitcoin, the original cryptocurrency, spiced up with external predictions that the following year of 2019 will be the year for XRP.
What the future holds for Ripple and XRP and can 2019 become THE year of XRP?
Garlinghouse Claims Ripple is “1000 Times Faster and Cheaper than Bitcoin”
It doesn’t really come as a surprise that there are currencies in the market that are faster than the original coin, Bitcoin, as the majority of forks from the original chain actually have faster processing time with lower fees.
Bitcoin is getting more expensive year by year, while the validation of transactions takes more time. In this scenario, currencies like Ripple, which is deemed to be a fast and cheap method of transacting monetary value, have a great chance to stand out as a potential threat or more benevolently said competition.
In one of the latest interviews, Garlinghouse stated that he is not focused on the price of XRP but that he is rather looking for different ways to utilize the blockchain technology behind Ripple, adding that Ripple has proven to be one of the most efficient currencies that are working on solving the issues that are active in the domain of remittance payments.
On the San Francisco 2018 conference, Garlinghouse also added that Ripple is now 1000 times faster and cheaper than Bitcoin, stating that XRP will be used for designing a decentralized open source product that will solve today’s payment problems.
Moreover, the foundation is set to release xRapid officially as a product that could be used by different banks and financial institutions, that way pushing the adoption of XRP. The official release of the product is scheduled somewhere in October of the following year.
2019 Could be THE Year of XRP
With over 120 banks and financial institutions belonging to Ripple Net, the network of Ripple supporters, dominating as an alternative payment system in oppose to traditional banking systems across 6 continents in over 40 countries, XRP does come off as one of the most promising currencies in the market.
With XRP payments take no more than several seconds, having the average processing times of 3 to 4 seconds, also making up for a cost-effective solution also allowing for micropayments.
With the foundation pushing the adoption of XRP through the upcoming release of xRapid as a product that is already being tested by numerous Ripple partners, it isn’t difficult to imagine that Ripple is set to further establish its dominance by transferring it to the following year as well.
The team representatives also stated that the general plan for Ripple adoption as well as the adoption of their technology is to have one bank join the network every week, which should additionally increase their dominance in the remittance market.
From XRP to Cash in a Matter of Seconds: Ripple on Japan ATMs
Thanks to the partnership with Wirex, which is actually a bank based in the United Kingdom, allowing for the increased exposure of cryptocurrencies, Ripple’s XRP can now be exchanged directly for cash in a matter of seconds with Japanese ATMs.
Wirex provided support for XRP which brought it to the secure debit card, supported by 40 million merchants across the globe, with the ability to exchange XRP for cash in just several seconds on certain ATMs in Japan.
If the fruits of Wirex and Ripple partnership that brought XRP to its debit card and the instant cash out in Japan are just a glimpse into what the future of XRP might look like during the next year, 2019 might as well bring Ripple up to the top.