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Despite seeing a week of hard markets, falling prices and pessimistic investors, XRP continued to press and progress, despite being very undervalued. Thanks to the lowering of market prices, the market capitalization of XRP once again surpassed Ethereum, bringing XRP back to second place, behind the huge market capitalization of Bitcoin. As we know, this change took place for the first time towards the end of 2018, however, from the beginning of 2019, thanks to a more optimistic market, Ethereum has finally recovered the second place. With this in mind and based on recent developments, we can see that XRP is still promising to increase its market capitalization until 2019. We do not expect the XRP to overtake Bitcoin this year, although it would not be totally unrealistic to argue that in a couple of years, it could.
XRP's market capitalization will grow as institutions begin to use Ripple technologies, because with the growth of Ripple and the growth of services, more and more people are trying to change Bitcoin for XRP in the hope that, eventually, the value of XRP will increase and offer a great return for investors. Indeed, this could happen, given that many people believe that the XRP should be valued at around $ 10.00, far from today's low value.
Remember, we are not investment advisors and this is not an investment advice, so we are not saying that XRP will hit $ 10.00 anytime soon, in fact there is still a long way to go before this happens, however, we are suggesting that one day the XRP could, assuming that Ripple continues to make the positive progression they have made in the last year.
If you decide to invest in XRP, you should do so based on your previous research. The XRP is as volatile as any cryptocurrency and therefore the investment risk is high, invest only what you can afford to lose and always remember to trade securely!
What happened this week?
So, as we said, Ripple has been in the news for a number of reasons this week, which is why we reported during the week, but we want to take some time to recap.
First, eToro Senior Market Analyst, the crypto trading platform, Mati Greenspan talked about XRP, referring to the ongoing securities debate that paralyzed XRP until 2018. In this, Greenspan explicitly states that XRP is not a security . You can see our coverage of this story for you, Here.
"Greenspan was asked about his token viewpoint to which he confirmed that he was still confident about the payment settlement token.In a webinar he said that the token could interrupt the whole banking system and also claimed that XRP should not be classified as a security in the US At the top of this Greenspan said its characteristics are more closely resembled than a utility token Greenspan said that XRP is not a security, according to the My personal opinion: My best understanding is that XRP is logically a token of utility [but] the SEC can see things differently. "
Will the SEC classify XRP as a security token? We do not know, so what's it like, nobody really knows what's going on, so we just have to hope that 2019 finally brings a conclusion to this long and tired episode of encryption.
Ripple's CEO, Brad Garlinghouse, this week announced that increasingly large banks are starting to adopt Ripple technology. Of course, this is not directly related to XRP, but it means that Ripple continues to make ground at the institutional level, something that in turn will have a positive impact on XRP. See our complete coverage of this story for yourself, Here.
"Garlinghouse predicted that there were so many banks that they would eventually turn to Ripple's platform." Ripple's CEO made a big prediction at the European Fintech Money 20/20 conference in Amsterdam stating that there will be a lot of number of banks that will enter the Ripple network saying, I have publicly stated that by the end of this year I have every confidence that large banks will use XRapid as a liquidity tool. "
And finally, big news from the Middle East – Kuwait Finance House, one of the largest banks in the Middle East, has announced a new operational partnership with Ripple that promises to have a major impact on the adoption of Ripple technology across the board. 39; Asia – as of Crypto Daily:
"Kuwait Finance House is one of the largest Islamic banks in the world and was the first bank in the Arab nation to work with RippleNet, a network of remittance payments around the world. Finance is using Ripple's business software solution that allows banks to settle cross-border payments instantly with end-to-end tracking, xCurrent. "
The message to take home here is that even when markets are collapsing, cryptocurrencies can still make progress. Wait, hold on tight and keep your eyes on the prize!
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