Ripple Labs product, Ripple (XRP) has been the center of many disagreements between Crypto and Blockchain enthusiasts since it jumped into the limelight in December 2017, despite the fact it has been developed and developed since last month of 2013. Ripple Labs have implemented various protocols and have been signed by the core Bitcoin community.
Blockchain technology in a centralized manner. Since Satoshi’s vision was to create a decentralized currency, people saw this as an insult to the true origins of Crypto and Blockchain technology.
The Rise of Ripple
Everyone remembers 2017 as the year where Crypto became mainstream. The final month of 2017 saw the value of XRP rise from $ 0.25 to $ 3.75 – that’s 1,400% price increase in one month. Now, you do not need to be a financial expert to realize that this type of growth is unnatural and simply unsustainable.
The problem was not XRP – almost every cryptocurrency, token, and utility-coin also shot in equal proportions – Crypto-Craze. For the first time ever; Bitcoin, Ethereum, and Ripple were common names on the “dark” side of Bitcoin ‘s relationship to Darknet markets such as’ The SilkRoad’. As serious financial investments and projects.
The Crash and How Ripple Fell
The problem with the world seeing how easy it was to make money investing in Crypto was that a huge influx of people with absolutely no idea behind the technology jumped in. Social media channels, especially Reddit, were awash with people shilling coins that had no real-life partnerships, hadn’t been tested for scalability, and some of which had not even produced whitepapers or roadmaps at the time. People were putting serious amounts money into projects that sounded great, but many of which became extremely overvalued for what they were.
The newcomers were warned of XRP being a ‘centralized’ blockchain project and that their products did not even use the XRP coin – and therefore it would be worthless. So, what did many of these new-comers do? They invested in well-marketed scams, of course, Bitconnect anyone?
The unsustainable growth was just that, unsustainable. Some people lost millions as the markets continuously crashed (and continue to crash, although seeming to slowly consolidate) throughout 2018. XRP is currently trading at $0.52, although a lot lower than $3.75 – it’s still a lot higher than the $0.19 it was trading at exactly one year ago. People who bought it at $3, however, are probably not very happy – but “buy low, sell high” seems to be taking a while to catch on in the Crypto market, along with patience.
Ripple’s Rise from the Ashes
After a year of extreme volatility, it seems that people are now being much more cautious when investing in blockchain technology. It may even be the case that people are accepting that for blockchain to cause ‘disruption’ and ‘decentralization’ – there may be a need – and even a place – for centralized blockchains to become recognized first. Ripple Labs have stuck to their roadmap since day one, and their roadmap is solid – exactly what people are looking for right now, secure investment. In the last fourteen days since September 14th, the value of XRP has doubled. Compared to the more ‘decentralized’ projects, in particularly Ethereum – this shows a change in people’s views on investment.
It may not be the Satoshi vision of how blockchain would change the world, but a lot has happened in ten years, and it has been changed to the Cryptosphere. Their recent announcements included a unified package of XCurrent, XRapid, and Although XRP does not require the use of XRP, XRapid does, and those who implement will also need to use XRP. If Ripple Labs manage to follow their roadmap and add partnerships – the demand for XRP is going to increase. Since there is a finite amount, the value of XRP will also increase as the Ripple grows. This is simple supply and demand.