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The chaotic and hard BCH fork has practically collapsed in the last two days. When the dust settles, XRP may come out ahead due to it.
The recent crypto crash has wiped out over $ 20 billion in encrypted value while the institutions have made a huge investment in preperation for the fork of Bitcoin Cash, which continues to be chaotic and unpredictable because many are worried. This continues to be a bit disastrous for a number of cryptocurrencies, and as CSO Meltem Demirors of Coinshare told CNBC, this could indeed mean the death of a number of altcoins, which are currently trading at low volumes and rather subtly.
To learn more: Brad Garlinghouse: Ripple is "detecting Swift"; The institutional interest in XRP is "on the rise"
In particular, while the XRP, like all cryptocurrencies, had a success after the sell-off related to the hash war, it required less than a decline compared to competing tokens, and in fact it outperformed Ethereum as the second largest currency by volume. Ripple's CEO has recently been involved in the media in promoting the institutional success of XRP and its ability to constantly get support from the world of technology and finance. Just today according to CoinGape, Nexo, a new lending platform has arrived on board the Ripple xRapid project after using XRP as an optional guarantee.
Ripple (XRP) will soon become the number one choice in cryptocurrency for various banks – Brad Garlinghouse – XRP News Today – @smartereum https://t.co/uSLuRdDa8U
– José Mauricio Rozada (@jmrozada) November 16, 2018
Large financial institutions like XRP and Ripple have been firm in their lobbying efforts in Washington. While Bitcoin is by far the dominant force in the encrypted market, the recent crypto crash can only cast doubt on the stability of a decentralized digital asset. Although XRP is arguably also decentralized, there is no doubt that Ripple has more control over supply, possesses a majority of XRP, a currency that many commentators believe is designed to keep Ripple in general in control of the development of blockchain.
While this makes XRP and Ripple anathema for many crypts passionate and in particular for the purists of Cypherpunk, the same can not be said of financial giants, institutions and banks, which in fact have no ideological problems with centralization, but probably they are favorable. Not surprisingly, these are actually people who support XRP. Just today, CIMB, one of the largest Asian banks, has announced a partnership with Ripple according to the Daily Hodl, joining a number of similar institutions that have won Ripple's XRP medal or its rapidly expanding roster of interested parties to xRapid platform.
Interesting point I have to admit. However, the goal of Ripple is to be used by central banks around the world, and must comply with the laws of the SEC. Good try
– MoneyMatrix (@Adobe_iLLusions) November 16, 2018
Basically, the fact that XRP is not like Bitcoin is in fact attractive to investors, and the incident confirms what many fear about cryptocurrency trading in the first place – the market is unstable, and software that operates based on decentralized consent is a precarious thing. Crypto Daily has noticed that many XRP traders are already trying to split XRP from Bitcoin, and this crash will definitely shift this perspective, since XRP is dragged down with the rest of the cryptographic market.
While the chaos is exhausted, institutions will be sure to want to return their money to the encrypted market, but perhaps they will be more aware than ever before that the cryptography market is particularly vulnerable to destabilizing forces. Since the XRP has been relatively good in crashing, and because it is designed as a more top-down system than competing cryptocurrencies, XRP will probably be even more attractive.
Read more: Craig Wright's BCH fork promises to be a lost battle for the cryptic ideology
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