(Extra disclaimer: I own (a little) Ripple.)
Well now, seems that overall market cap.
To my newbie mind, this is a good thing.
Yeah, fine, Ripple isn’t a decentralised cryptocurrency.
You know what it is, though? It’s a bridge for financial institutions to the world of blockchain technology and cryptocurrencies.
Further, it shows that established FIs (and presumably other businesses entrenched in their current modes of operation) can evolve to make use of blockchain technology.
Despite the hacks against the Korean exchanges, the increased government oversight, and the resultant dips these have had on Bitcoin and cryptocurrencies in general, it seems that Korea and Japan both are really into Ripple.
This might have to do with the fact that Japan and South Korea are both testing Ripple’s payment network to explore cost reduction and time savings opportunities that Ripple’s tech provides.
Does this mean the sky’s the limit for XRP?.
Keep in mind that a major part of the value proposition that Ripple presents is a low transaction cost. If the cost of XRP tokens rises too high, at least that part of the value prop disappears.
Of course, there’s still the speed of settlement that can still make for a solid value prop (minutes versus days). However, this can not completely offset an overly-hyped valuation of XRP.
Is XRP a good investment? I don’t know. For what it’s worth, I’m holding.
As always though, check with a professional financial consultant before making any investment decisions.
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