Events that could Push Ripple to 1$ Sooner than Expected
April 10, 2018 2:33 pm
Analyzing factors that would Help Ripple rise to 1$ value
Ripple (XRP) regarded as the third top cryptocurrency, rose higher than 3$ per unit back in January 2018 heading towards the value of 4$. But when everyone expected Ripple to rise beyond 4$, the market dipped and remained a stagnant low.
Hence, Ripple fell under 1$ and lower floating around 0.50$ for weeks despite the end of the market crash. Ripple has however planned upcoming events that make us believe that even though ripple is struggling, it can still become 1$ probably sooner than expected.
Cobalt and Ripple
The introduction of the Cobalt algorithm is set to help make Ripple’s transactions faster for smoother user experience and simpler adoption for these kinds of transactions.
Ripple announced the implementation of Cobalt on March 27th making the public aware of this implementation. Once the algorithm is launched, the transactions will be even faster making it desirable for banking institutions and money transfer services.
This could be counted as one reason to hope that XRP will rise faster than we believe.
Ripple and the Market
Ripple fell to -1.63% against the dollar due to which it is now being traded in the red. But Ripple has gone up by 2.13% against bitcoin which is going down to minimum drop in the market.
Hence, this also means that XRP can presently be purchased at the price of 0.48$ per unit making it a perfect investment. Very soon, one the market stops showing negative progress, XRP price will reach 1$ price in the coming weeks.
Ripple and MoneyGram
Brad Garlinghouse, CEO of Ripple announced in January that Ripple is going to enter into a partnership with a significant money transfer institution. This made the public guess about whether XRP is going to partner with Western Union or MoneyGram. Then news about Ripple collaborating with MoneyGram hit the public, slowly pulling away from the market crises.
Although Ripple (XRP) has shown some improvements, partnering with MoneyGram still makes it be traded in the red. But in the long run, MoneyGram will surely help Ripple rise to a suitable value sooner than we think.