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Do you think Ripple is the perfect match to compete with bitcoin?



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2 Answers

Not at all. It is a NO from both technical and economical features.

Starting from the supply: Bitcoin has a maximum supply of 21,000,000 BTC while XRP has a total supply of 99,992,497,246 XRP which means that the price can be nowhere near the same per unit.

The technology:

Bitcoin is based on Blockchain technology (check this video out for an explanation )

Ripple in the other hand, differs from Bitcoin and all other decentralised blockchain based crypto currencies due to the transaction confirmation algorithm it uses.

As a last note, XRP is CENTRALISED cryptocurrency and will never be as big as bitcoin

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Ripple, which was designed for banks and global money transfers, has seen the value of its XRP digital currency skyrocket in the past three days. On Dec. 10, the company had a market capitalization of just over $9 billion. As of Wednesday morning, that market cap had more than doubled to $18.1 billion.

Prices for an individual Ripple XRP are considerably more affordable than its alternatives, making it even more attractive to cryptocurrency speculators. https://cryptonewstrends.com/ As of late Wednesday morning, a single XRP cost just 47 cents, a 66% jump from yesterday’s close, according to CoinMarketCap.

Ripple’s cryptocurrency has been adopted by banks and other financial institutions. Those companies believe Ripple’s system offers both better prices and is more secure than other digital currencies, including Bitcoin. It allows users to send, receive, and hold any currency in a decentralized way via the Ripple network. The company is cash-flow positive and holds a vast store of XRP, which it periodically releases into the market.

Ripple’s rise seems to be a (pardon the pun) ripple effect from the surge of interest in Bitcoin. Investors who believe cryptocurrency may be reaching a peak are looking for others that could provide a greater return in the long term. The company has hit some notable milestones in recent months, though.

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