Ripple (XRP), Litecoin (LTC), and Stellar (XLM) are three of the over 1500 altcoins in cryptocurrency. The industry has come a long way since Bitcoin (BTC) burst onto the scene in 2009. While the top coin still holds the limelight, others are attracting a lot of attention.
Ripple (XRP) is ranked 3rd in the market, Litecoin is 6th, and Stellar is 7th. Ripple and Stellar have a similar historical beginning, though they have since focused on different approaches. They both intend to transform cross-border money transfer. However, XRP is tailored and focused on financial institutions and payment providers, while Stellar is trying to reel in individuals and the unbanked in third world countries. Litecoin, on the other hand, is closely associated with Bitcoin and targets being used as a day to day payment currency.
All three cryptocurrencies have the potential to go on and break into the mainstream. They also have very focused and ambitious team leaders in Brad Garlinghouse for Ripple, Jed McCaleb for Stellar, and Charlie Lee for Litecoin. However, Ripple holds an edge over the other two coins and may end up reaching global adoption ahead of the competition.
Ripple beats both Stellar and Litecoin when it comes to the number of partnerships secured over the last one or two years. Some debate the value of these partnerships that seem not to impact the coin’s value. That may be the case, but these high-profile banks and payment providers have a lot of money riding on them.
The xRapid solution that utilizes XRP is just beginning to gain traction. Ripple CEO Brad Garlinghouse recently commented on this, saying: “I’ve publicly stated that by the end of this year I have every confidence that major banks will use XRapid as a liquidity tool.”
Pilot results point to an increasing appreciation of the coin’s advantages and more partners are inclined to join due to future potentiality. LTC and XLM too have partnerships and are being adopted, but compared to ripple, none has the volume and momentum that the latter commands.
And all this comes down to partnerships. With over 200 major partners, the ripple team has put in place a strong foundation that will see XRP adoption skyrocket a few years down the road. The three altcoins are all pushing towards that goal of securing as many partners as possible, but ripple beats the other two due to the effort expended by the team.
XRP demand more than XLM and LTC
Ripple destroys XRP when used as fees. This means that total circulation will keep reducing with time and as more users adopt the coin. On the other hand, XLM is inflationary, having about 1% new lumens created every year as part of the inflationary pool.
Ripple also sells huge volumes of XRP to these Financial Institutions, putting out 1 billion coins every month. Though not all the coins are sold, once the 55 billion are sold, banks and other FIs will have to buy from the market. In about five or so years, XRP will be in great demand and its value will shoot to the moon. That puts it ahead of the competition by a huge margin.
XRP- BTC decoupling great for ripple
The likelihood that XRP will soon be decoupling from BTC is great news the coin. The value of altcoins has greatly mirrored the top crypto due to its influence as the main trading pair. But with SBI VC trading set to offer the xrp pairs, the coin will cease to shadow Bitcoin and thus its value could be on the way up soon. XLM and LTC don’t have such a possibility. If BTC-altcoin decoupling happens, one of the main beneficiaries will be Ripple. It will mean that the coin’s value does grow in correlation to its verticals.
Ripple in the market
Ripple (XRP) is looking to clear a major resistance line as it looks to capitalize on recent news. American Express is another of the financial institutions that want to adopt the use of xRapid. The coin is projecting an upside bullishness that could see it trend above $0.70 in the next few hours, up from $0.67 XRP at the moment. It has a market cap of $26.4 billion and a 24h trading volume of $205 million. Given all other advantages and a bullish run, the coin has the prospect of going beyond $3 in 2018.