Ripple XRP XRapid Explained | What is It Used For | DataDash

Ripple XRP XRapid Explained

Welcome to this episode of DataDash. In this special episode Nicholas takes a closer look at Ripples XRP to help explain the underlying technology and what Xrapid is going to be used for.

Ripple Labs the parent company of XRP the 3rd ranked cryptocurrency video at the time of this post. Recently XRP has taken the number 2 spot based on total market capitalization. XRP runs under Ripple Labs which has made a number of technologies around the remittance payments market. The remittance market is a 100 billion dollar market per year where people and companies send cross boarder payments.

The cross boarder payments system that currenty exists is very much out dated. 'Swift' was made in the 70's and banks have not worked in the favor of customers to improve this out dated technology. It is slow and costly for cross boarder payments. The money transfer system that currently is widely used takes multiple days - even after 5 days of waiting for a transfer to occur the fail rate is still around 5%. So had you sent money across the world which was urgent it may not even arrive after a period of time.

XRP Cross Boarder Payments

Xrapid 'XRP' is a new type of payment gateway that will swap your native value into XRP and swap into the requested foreign currency. Xrapid does this in a distributed way which reduces cost and drastically speeds up the time to accomplish the money transaction.

XRP Trading Tips

The current value vs actual use case is not matching 21 billion dollars. What is currently carrying XRP's value (similar to many cryptocurrencies) is speculation. There is however very steady volume backing XRP from mainly retail investors. The total supply is still 75% held and not yet released into the total supply. This means that a great deal of inflation is still to come.

If Ripple can get the Xrapid technology in 25% of the remittance system it will provide a great deal of liquidity and demand for XRP tokens. It is hard to measure this because Xrapid has not been turned on and the demand which is to come is not yet measurable. The value of XRP could be diluted by a large total supply.

There has been high volume in XRP trading, however not from institutions and banks. This may change when Xrapid is turned on, but as of now it has not been. XRP is a risky investment and a speculative one with current conditions. Looking at previous price action XRP tests its previous highs relative to BTC. It is a momentum play and with price action repeating itself an indicator to look into is the 200 moving day average. Learn more by watching the XRP DataDash video above.

Swell Event: October 1st 2018 Ripple XRP Event - Brad Garlinghouse, CEO of Ripple will be talking along with a number of other Ripple team members. Learn more here.


Comments are closed.