What is the Global XRP Cryptocurrency Market 2020 to 2028?
Updated: Jul 13, 2021
Image Credits: Pixabay
XRP might be among the most popular digital currencies at the moment, but uncertainties abound – as is the norm with digital assets.
Amidst the speculation, many experts believe the sky is the limit for XRP as steady growth is expected from 2020 to 2028.
This expected growth is not completely unrelated to the increasing number of partnerships that Ripple has secured. Add the payment platform's zest for crypto regulation, and you get a clearer picture of XRP's dominance in the years to come.
Ripple Stoops to Conquer
The crypto industry is a perfect entry point for new investors who would like to grow their fortunes. How true is that? XRP’s current low price and its huge growth potential show that it has a bright future. Crypto trading has its risks, but that is the nature of business. Unlike many crypto projects looking to rug-pull as many people as they can within the shortest time possible, Ripple is biding its time – as it should. If the contracts Ripple is securing with multinational banks is anything to go by, any of its competitors that aspires to control the digital assets sphere in the future must brace itself for the Battle of the Titans.
Right from the moment the payment platform started gaining traction, Ripple has gone about its plans like a man on a mission. They have tried to meet stipulated requirements regarding securities and digital assets in different countries around the globe; little wonder Ripple is considered the poster boy for cryptocurrency regulations.
While Ripple's approach to transparency might not be everyone's cup of tea, you have to give it to the payment platform.
Adhering to government regulations might seem like a naive move in the short-run, especially if the target is to get more people on board. But in the long run, it's a masterstroke. Imagine a crypto space that ends up being fully regulated! In that scenario, XRP will weather the storm better.
Ripple Signs More Partnerships with Global Financial Institutions Than any Other Crypto Platform
Image Credits: Pixabay
While the Ethereum foundation keeps trying to sort out its network and the crazy gas fees, Ripple continues to sign partnerships with financial institutions all over the globe. The open-source platform has over the last few years signed partnership agreements with Japan Post Bank, Royal Bank of Canada, Sumitomo Mitsui Group, Barclays PLC, and more.
These partnerships build the confidence of Ripple investors and do a lot more – those cheap financial transactions across the globe made possible by Ripple didn't just happen in a fortnight.
Ripple is Injecting More Liquidity into its Network
Jay Z's "more money more problems" might be an idea shared by a few wealthy individuals, but that's not something Ripple buys. The crypto giant has unlocked 500,000,000 XRPs from their escrow wallet, with plans to release twice that amount every month.
According to Ripple, a big chunk of the funds will be used to expand its operations around the globe, and a tidy sum will be put into startups with high potential. This projection hints at a possible expansion of the Ripple Network.
If a global financial organization says they're looking at investing in new startups, do alarm bells ring? Not if that organization is a brand like Ripple. Diversifying is akin to having a backup plan and shouldn’t necessarily be looked at as a bad thing. Instead, Ripple's attempt to spread its tentacles to other sectors through startups should be encouraged – it does wonders for the economy.
What Does the Future Hold for XRP?
Image Credits: Unsplash
No one has been able to challenge the growth of XRP over the years. This digital currency has come a long way from its humble beginning in 2004, and it appears to be on track for great things. Yet, many experts consider its growth stunted when they compare its prices to ETH’s.
What a lot of these armchair experts fail to understand is that genuine assets have to be bankable, and this takes time. ETH and XRP are both attached to particular products and so don’t serve as a useful comparison.
ETH powers a platform that allows anyone to create smart contracts for a myriad of reasons. With Ripple, payments can be sent around the globe using XRP as the central currency.
If anything, XRP is a stablecoin, making Tether more of a suitable competitor. However, XRP has a market capitalization of $25.16 billion, which is much higher than Tether's $17 billion. This figure says a lot about XRP’s future. And, while the platform might not enjoy the greed-fueled price volatility that is commonplace in today's crypto space, XRP’s time will surely come.
Being crowned king for the day is commonplace in the crypto space, but it’s a practice that should not be tolerated.
What XRP needs is patience. A virtue which is tough to find in this fast-paced environment.
As we move towards 2028, there are likely to be a lot of shake-ups in the crypto world. And if XRP positions itself well, as it has already started to do, it could make gains to become the platform that serves the masses tomorrow and deeper into the future.
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