United States – Although the cryptocurrency market is slowly moving due to the coronavirus pandemic, Ripple’s XRP has still sustained the uptrend. The world saw XRP’s comeback in September when the government started to reopen the economy. Following its impressive weeks, where XRP achieved a new yearly high, many critics claim that this digital asset can outperform Bitcoin in 2021.
Everyone knows that Ripple ad Bitcoin and two of the most prominent cryptocurrencies in this decade. Though Bitcoin has been known for international bank payments, Ripple outperformed it in peer-to-peer payments and cross-border money transfers. More people from different countries prefer Ripple’s XRP since it is cheaper and faster than Bitcoin and other banks.
Indeed, Ripple is more affordable and accessible to people who want to move money around internationally. Bank transactions are often costly since the funds pass through various intermediaries. On the other hand, Ripple transactions cost cheaper and only cost at an average of $.0001 or 1/100th of a penny.
Regarding Bitcoin, the transaction fees usually cost $0.50, which is higher than Ripple. During these trying times, Bitcoin’s average fees have gotten as high as $55.16 per transaction.
Regarding the transaction speed, Ripple is also the winner. This year, Bitcoin transactions take about ten minutes, while Ripple’s only takes a minute or less. Again, Ripple has shown more convenience to its customers. When it comes to price, Ripple has over 100 billion XRP, while Bitcoin only has 21 million BTC. This situation means that XRP’s market capitalization spreads 4,761.9 faster than BTC.
XRP’s low price is more appealing to investors since it offers more room to grow than BTC. Although Bitcoin has a better decentralization, Ripple performs better in terms of speed and affordability. With Ripple’s XRP, more people can move money across borders quicker and cheaper. The company also shows a promising future in the years to come.
Many crypto enthusiasts have strong beliefs that Ripple can outperform Bitcoin in 2021. Currently, many startups are developing systems that can help people use XRP in transferring funds.
Additionally, more banking institutions, such as the Japan Consortium Banks, adopt Ripple’s payment technology to offer Blockchain-based solutions. Recently, Ripple confirmed that some Gulf banks in Saudi Arabia and the UAE had adopted its system to support cross-border payment transfers in the Middle East.
Indeed, Ripple is not an average currency. It offers something unique to other altcoins. It is vital to understand Ripple’s capabilities since it presents a solid investment opportunity for different companies worldwide.
