The cryptocurrency market’s recent roller-coaster movement has left a lot of users and holders baffled with twenty nineteen starting off on a bullish high and currently witnessing a sideways price movement. The time period has also seen Ethereum [ETH] and XRP switch positions to become the second and third largest cryptocurrency respectively on the cryptocurrency charts.
The XRP community has been one of the most active participants in the crypto space and has always maintained a steady positive stand on the cryptocurrency’s present and future. This moral was boosted when Weiss Cryptocurrency ratings recently released a post stating that XRP could become the number one cryptocurrency in 2019. The report said:
“Ripple’s XRP, in particular, is aiming to disrupt SWIFT, the giant payments network of the global banking system. If it can manage to chip away at SWIFT’s market share and even replace it in some areas, there’s a chance that XRP could eventually become the world’s No. 1 cryptocurrency.”
Weiss’ prediction comes on the back of reports that cited multiple tie-ups between XRP and established financial institutions as well as several listings. This included XRP’s margin trading facility being launched by Kraken. The exchange stated:
“Please note that BCH and XRP are not collateral currencies. This means you cannot open margin positions against the value of your BCH or XRP balances. For this reason, you should always maintain adequate balances of other collateral currencies to maintain your margin positions.”
Another prediction made by the body was majorly skewed towards Bitcoin, claiming that in the new year Bitcoin will be increasingly used as a store of value. Weiss’ report pointed out qualities such as high portability and a chance to compete with gold as the value standard. This claim was also backed by Lou Kerner recently when he stated that Bitcoin is on its way to becoming a respectable store of value. In his words:
“Gold right now is an $8 trillion asset while Bitcoin is a $60 billion asset. In my opinion, the value o Bitcoin can go up 100 fold that will ensure that the field of digital assets goes a long way.”
Source: Read Full Article