Ripple is by all accounts one of the most adopted cryptos in the world. It has up to this point entered into partnerships with more than 100 banks, and counting. However, this has not reflected in the value of Ripple (XRP), mainly because it is highly correlated to bitcoin. A good percentage of ripple trading is done in bitcoin, which means that ripple has been dropping despite all the good news that have come its way in the last few months. Even Ripple CEO Brad recently made the same observation. He noted that,
“There’s a very high correlation between the price of XRP and the price of bitcoin, but ultimately these are independent open-sourced technologies.”
However, this will change in the near future. That’s because more exchanges are pairing altcoins with fiat, and this will see in the correlation between bitcoin and other cryptocurrencies drop. For instance, Bittrex, one of the largest exchanges in the world, with over 3 million clients, announced that they are introducing fiat crypto trading for select client in the U.S. They intend to roll this out to all clients in the future. Binance too has announced the pairing of ripple (XRP) with Binance coin and true USD.
The biggest news pointing to the decoupling of ripple (XRP) from bitcoin (BTC) is the upcoming SBI virtual currency trading platform. This much awaited crypto exchange has only put ripple (XRP) on their webpage. There is no mention of any other cryptos. That’s an indicator that ripple will be the primary crypto that they will be listing, something that will give ripple (XRP) huge value outside of bitcoin.
It is clear that as altcoins decouple from bitcoin, ripple will be one of the biggest beneficiaries simply because it has a wider use case than any other blockchain project in the market. As Brad, the ripple CEO puts it, the market is still young and irrational. Over time, investors will pivot more towards projects that are fundamentally strong, and on this end, ripple is unrivalled. Going by the high levels of adoption that ripple has had up to this point, Brad is right! Ripple just recently announced a partnership with the largest bank in Kuwait. This follows similar deals in the UAE, and many more all across the world. These are deals that have pretty much cemented ripple as the crypto of the future.
With all these factors at play, it is clear that ripple (XRP) is about to blow up big time. A savvy investor would be looking to accumulate as much ripple as possible at current prices. This is a technology that is changing the finance industry as we know it. Its rate of adoption is making even people who have always hated ripple change their minds about it. Ripple is the future, and once it completely decouples from bitcoin, ripple (XRP) could easily hit a valuation of at least $10 in 2018.