The crypto space has a lot of hopes in 2019, given 2018 has been dominated by the bears throughout. With many optimistic about the impending bull run, the recent price rally must have reignited the optimism again. The recent surge saw Bitcoin and other altcoins break their key upper resistance levels, and amid the biggest gainers, BCH and Ripple have made significant strides.
Ripple is currently sitting at the third position just behind Ethereum and also took over it for a brief amount of time. Looking at the Ripple network despite the centralization controversy, the blockchain has made significant progress in mass adoption. Ripple’s xRapid technology is a rage among the banking systems and the number of adopters is only growing.
Although the XRP token controversy comes back to haunt it time and again, that has not deterred various financial institutions to incorporate Ripple made banking solutions like xRapid and xCurrent. According to a tweet Ripple made banking solutions are recording an average of 3 productions contracts during the first quarter of 2019.
The Recent Price Surge
The recent price rally was flocked upon by almost all the crypto in the decentralized space and Ripple also saw a mini-boom in its prices. Ripple has gained 7% in the last 48 hours. Some analysts are predicting that the price rally might continue for another few days.
Ripple is currently the only blockchain finding various partnerships with the traditional financial institution and bridging the gap between the two sectors. These partnerships could prove really beneficial in the long run, given its the adoption and usability which would decide the future not the prices of the trade market.
Ripple CEO himself believes that out of thousand of crypto tokens, only a handful would survive in the long run. The CEO explained that most of the altcoins in the crypto space serve specific use cases and that won’t help in the long run as people would expect multi-usability from a single token, as multiple tokens won’t make sense.
Ripple has already positioned itself greatly in the long run with various use cases that it provides through its various banking solutions, and believe it would help them survive in the long run.