Ripple was launched in 2012 and was designed specifically to carry out interbank settlement and payments. Ripple is one of several cryptocoins that looks to be adopted by mainstream financial institutions rather than replacing them or even regarding them as the enemy of cryptocoins.
The developers of Ripple hoped that the present volatility of the cryptocurrency market would be lessened through the use of Ripple and its payment system.
The company claims to have more than 100 banks using its RippleNet platform. A group of Japanese banks is also testing the system. Also involved are RBC, Bank of America and UBS.
Positive news for Ripple
Originally the Ripple team developed 99 billion Ripple coins or XRP. The group raised about $38 billion from global sales. However in May last year the team moved $55 billion XRP into an escrow account, and then released one billion onto the general market. Recent gains show growing confidence in its development.
Another positive development is that Coinbase, a widely used exchange operating in over 32 countries announced it will now include Ripple as a trading option according to this article. This will no doubt stimulate interest and activity in Ripple trading.
Price of Ripple affordable but variable
There is considerable discussion of Ripple as it is added to the Coinbase roster. When talk of its listing first started the price of Ripple rose to about $2.50 In early January this year Ripple hit levels of $3 to $3.50. A recent article claims that due to the move increasing the sense of confidence in the design and makeup of Ripple its price is expected to be about $5 dollars.
The price prediction may be rather optimistic as the price as I write this is just $1.18 and that is up just over four percent on the day.
In January, Ripple even hit levels of $3 to $3.50. However, the price of Ripple (XRP) when it does arrive on Coinbase is expected by some to be around $5, thanks to the inflating sense of confidence around its design and makeup.
I have not found any official announcement that Ripple will be listed on Coinbase but it certainly is high up on the shortlist to be listed and the appended video also accepts that it will be listed. There were earlier rumours in January that it would be listed but it was not bitcoin cash was added instead. One worry about Ripple is that the founders and the company still control about 50 percent of the coins.
On its website Ripple describes itself and its mission:
Ripple connects banks, payment providers, digital asset exchanges and corporates via RippleNet to provide one frictionless experience to send money globally. Built on the most advanced blockchain technology that is scalable, secure and interoperates different networks. Provides optional access to the world’s fastest and most scalable digital asset for payments, XRP.