Although Ripple XRP is one of the top three currencies right after the second generation crypto Ethereum (ETH) and the original cryptocurrency, Bitcoin (BTC), Stellar has made some remarkable progress during the previous quarter of 2018 which further reflects its potential to acquire an additional boost.
That boost could come from mass adoption campaigns or more interest from investors, positive market trends, or even prominent partnerships, but one is for certain – having 120 banks and financial institutions across the world within its network of supporters, Ripple is not an easy competition to beat in the terms of which one is better.
However, since both currencies are made under the same idea if providing a fast, transparent, secure, prompt, as well as cost-effective way of operating with cross-border transactions, also being created and co-created by the McCaleb, can Stellar be better than Ripple?
Offering Financial Solutions through Blockchain
Both Stellar and Ripple are focused on providing the same blockchain-driven solutions, which is to provide a fast and safe, while prompt and cheap way of sending global payments.
While Ripple is said to be able to process approximately 1500 transactions per second, Stellar Lumens is said to have the capacity of processing and validating a bundle of 1000 transactions in a single second, which by stated quotes makes XRP faster than Ripple.
Moreover, Ripple has an ace in form of the Ripple Net, the network of supporters that now counts over 120 banks with a promise that Brad Garlinghouse made regarding the number of banks that are yet to join Ripple network, stating that there will be many banks using xRapid.
In the terms of aiming towards improving the image revolving around the way Ripple Labs are relating to XRP, the team mad an announcement during September 2018 that they will be releasing xRapid as a product that should promote XRP to banks and financial institutions, which provided a much-needed momentum for the crypto.
But, Stellar wasn’t stealth either. The currency climbed to the 6th spot on the list that way pushing Litecoin (LTC) down the list. In the meanwhile, Stellar XLM still has a rather strategic deal with IBM through the Stable Coin deal, which all together might be the same reason behind the often price surges of XLM in the market, which leads us to the market price part.
Stellar (XLM) and Ripple (XRP): Price in the Market
Although Stellar is being traded at the price of 0.21$ while XRP can be bought at the value of 0.44$ with the current increase of over 8% in oppose of XLM’s nearly 4%, Stellar still seems to be showing more than a slightly better statistics in the term of reflecting a more stable status against the fiat with losing around -74% since reaching its all-time high.
Ripple lost during the same period time -84%, in addition to the fact that XRP collected nearly 70% in the course of the last year, which is not at all a bad score given the frequent market dips.
However, if you add the fact that Stellar XLM collected almost 1100% of gains over the course of a single year it really crushes XRP in the terms of YTD progress. Still, XRP is ranked as the 3rd largest currency with the market cap of over 17 billion dollars and with a massive network of banks and financial institutions across the globe using its technology.
IBM partnership with Stellar might even beat that advantage at one point, however, since Ripple has presented xRapid and the utilization of XRP in banks while some are already testing the product, the currency started to spike up, once again showing a bullish return on October 15th, with over 8% of gains in the last 24 hours.
It might not be fair to either of the cryptos to call it a tight, but it must be said that both projects have a massive potential in finances and financial institutions like banks in case of Ripple.
In addition to Ripple developing its network of partners, Stellar Lumens is also pitching new strategic projects with IBM, most recently launching a payment system powered by Stellar.
With such strong use case under the wing of a major partnership like IBM, Stellar Lumens has obvious chances of growing further which can be already seen in the rising interest in XLM.