Ripple’s XRP may dominate the cryptoverse in the third quarter of the year
By Global Coin Report|Updated: August 28, 2018
As far as I can keep in mind, this year has been a roller coaster for the crypto market. The rates of the major cryptos have actually been going up and down the entire time, and this is a stressing situation for a lot of the crypto financiers and lovers that don’t know exactly what to anticipate from the many existing tokens regarding price habits.
In this sense, the third quarter of the year might be the best occasion for a few of the virtual coins to rise to the leading and set a brand-new mark in their history, and that is precisely what we know for a fact that it may happen with Ripple (XRP). Stay with me here and let’s find the primary reasons behind the asseveration.
The XRP battle this year
Despite the market volatility, the XRP token has been handling some other issues that have put some friction to its development. Concerning this, it’s imperative to mention the ‘security’ concerns that the business has faced in the last months. Ripple has actually been under review by the Securities and Exchange Commission (SEC) thinking about the way the XRP token was set; there huged possibilities that the token could be identified as security.
Although this has brought a great deal of issue for both the company and the community, we need to remember that is not in fact a decision, instead, it can be simply a caution in order for the company to alter exactly what it needed to be altered, and that’s precisely what Ripple has been doing ever since.
Let’s recall that Ethereum itself was labeled as a security by the SEC eventually which is not specifically the case right now, so all of us can rest calm as Ripple is taking care of the circumstance.
Worrying the decentralization problems that presumably Ripple has, the Chief Innovation Officer of the company, David Schwartz, has actually declared that the XRP journal is as decentralized as Bitcoin and Ethereum if not more.
In fact, mathematically speaking it was proved that Bitcoin is mainly managed by Bitmain and the early adopters of Ethereum mine both Ethereum and Bitcoin, so, to say the least, Ethereum is more central than XRP is.
The PoW system that operates on both the Ethereum and Bitcoin platforms was exalted despite the technical failures explained by the CTO, and the reality is that miners can control the system. On the other hand, the rapid network of Ripple is considered by Weiss Ratings as “the fastest digital asset to transfer funds between exchanges,” and if we think about the low price of the crypto, this would be a significant chance to reach XRP.
So it is true, Ripple was cautioned that their coin was set as a security, however with all of the efforts that the business has actually put to change this, might have provided outcomes currently.