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In an independent review of XRP recently conducted by Lennard Neo Picolo Research, the entire cryptocurrency path in the third quarter was mentioned. Here, the report also included the analysis of competition for Ripple the company and transmitted the risk factors associated with the business.
The research divided Ripple's competitors into two sectors: blockchain and traditional. SWIFT and PayPal are the two great services that are speculated to be set aside by Ripple's revolutionary technology approach to payments. In addition, the report also included that the blockchain company would take over the largest players in the sector by making the money settlements faster and cheaper.
Ripple vs SWIFT | Source: Picolo research
In the blockchain industry, the report identified OmiseGO and Stellar as the two players emerging as Ripple's competitors.
Picolo Research said the confusion that Ripple and XRP are an entity may pose a risk to the ecosystem. Other points that the report transmitted as potential threats to Ripple were:
"XRP's concerns are centralized as Ripple owns 60% of the total tokens
Lack of clarity on the classification of XRP in safety or not
The lawsuits of Ripple could create obstacles "
Concluding the analysis, the document mentioned the intrinsic value of the XRP token to be evaluated at $ 1.75. He also added:
"The estimates used are conservative as they do not include burnt tokens, the growth of Ripple's market share, the value attributed to the reduction of errors and the market share of other non-bank financial institutions".
Finally, $ 1.75 was also presented as a "buy rating" for XRP, which is considered to be about 289% of the upside potential for cryptocurrency. The report also speculated that XRP will continue to be one of the top three market cryptocurrencies while it is achieving success in the global financial sector.
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