Ripple (XRP) as the third top cryptocurrency in accordance with the global coin report list, has had its five minutes back in January of 2018 when this currency went over 3$ per one unit, heading towards the value of 4$. And just when everyone was expecting to see Ripple going up and beyond the price of 4$, the market dip soon climbed onto the stage and took over the wheel.
That is how Ripple fell under 1$ and lower, hovering around 0.50$ for weeks, even after a great wave of market crash was finally over. It is no wonder that Ripple is crashing with the market as we can see the majority of currencies rising and falling while changing from trading in the green to trading in the red in the matter of a single day. However, Ripple (XRP) has some events upcoming that made us believe, that although XRP is struggling, it can still reach the price of 1$ probably sooner than you think.
Ripple and MoneyGram
Ripple’s CEO Brad Garlinghouse has announced back in January without providing any further details, up to this point, that Ripple is going to enter into a partnership with a very important money transfer institution. That gave the public some room for guessing so in general opinion, everyone thought that XRP is either going to partner up with Western Union or MoneyGram.
After having Coinbase avoiding to list XRP among the list of its live trading currencies, XRP has dropped in its price majorly, also hit by the rough market dip that went on for more than eight weeks. Then the news about partnering up with MoneyGram hit the public, so Ripple was able to rest for a while as we have had a chance to observe XRP as it was slowly being pulled out of the market crisis.
However, it is now more than evident that XRP lost over 80% of its revenue as this currency tanked in its price, losing a great part of its value over the course of 3 months.
Moreover, although Ripple (XRP) has had some improvements in the meantime, and with MoneyGram partnering up with XRP, this currency is currently trading in the red, with new decreases lowering its price.
But, in the long run, partnering up with MoneyGram will surely add to its physical value sooner than we think.
Cobalt and Ripple
Thanks to the revelation of Cobalt algorithm, Ripple’s transactions are set to become even faster for even smoother user experience and easier mass adoption of this type of transactions.
The implementation of Cobalt was announced earlier by the team Ripple, on March 27th when the public became aware of this implementation plan. Once this algorithm is integrated into the XRP system, all transactions will be made even faster, meaning that XRP technology could become even more desirable for banking institutions and money transfer services.
This is yet another one of the reasons to believe that XRP will rise up faster than we believe.
Ripple and Hyperledger
The last but not the least, we believe that the partnership with Hyperledger that Ripple (XRP) has announced on March 28th, nearly two weeks ago, might be another great thing that could potentially sky-rocket XRP and acquire the much-wanted value of 1$ per one unit that all XRP HODLers are so eagerly expecting.
Ripple and the Market
After the latest change in the market Ripple (XRP) has gone down -1.63% against the dollar which means that Ripple is now being traded in the red. However, this currency has gone up by 2.13% against BTC which means that Bitcoin is also going down due to a minor drop wave in the market.
Moreover, that means that XRP can be currently bought at the price of 0.48$ per one unit, which makes it a perfect investment. Pretty soon, once the market stops with massively plummeting, we will get to see the amazing results in XRP’s price as a consequence of these three events that will most certainly help Ripple (XRP) reach the 1$ price in the following weeks.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.