Ripple traded at around $0.20 during 2017, eighty percent lower than their current $1 average. The upward path of the currency is reminiscent of Bitcoin’s when its value first began accelerating, and some cryptocurrency experts such as CryptoMaps’ Craig Cole believe Ripple will be the next Bitcoin. With a transfer speed that can settle a payment in four seconds and a standard transaction cost of 0.00001 XRP, its sudden rise should come as no surprise.
In the last year Ripple has struck partnerships with over a hundred companies like American Express, CGI Group and Westpac. They have also established deals that have helped major financial institutes save money. Most recently they have introduced blockchain technology to Saudi Arabia’s Central Bank.
Craig Cole has stated the following concerning the rise of Ripple, “The virtual currency is certainly on the rise and has the potential to be the first token to truly disrupt an industry, and if it does, expect XRP to reach Bitcoin-like levels of ubiquity in the near future.”
Roman Guelfi, the CEO of Gibbs and the lead systems designer for Pinnacle Brilliance Systems Inc., has expressed more cautious optimism about the coin’s future. “Ripple certainly has the potential to move up a notch in 2018, but I think it will be more likely in 2019. As the market observes more projects being coded in other algorithms such as XRP, ETH will likely take a backseat to the next big coin/token. It will take some time for the markets to digest this, so I am projecting 2019 to be the likely time for it to take place. ”
Much of Ripple’s jump in success can be attributed to their willingness to embrace the system and work with regulators. During an Interview on CNBC’s Fast Money, Ripple CEO Brad Garlinghouse stated the following, “It’s incredibly important that the entire industry recognizes that we have to work with the regulators, we have to work with the system. The blockchain revolution is happening from within the system it’s not going to happen from outside the system.”
By working with the system Ripple will continually open itself up to new opportunities that will only contribute to its growth. As of March 5th, rumors have been spreading that Coinbase may be adding Ripple to their exchange. Although Coinbase has denied this rumor, the expectation remains that Ripple will be added to additional exchanges in the near future.