Ripple to Become virtual Gold
Will Ripple (XRP) be the one that will take over all of other cryptocurrencies in 2018?
Still today, Bitcoin – is the most well-known cryptocurrency and this will not change for some time. the news will always just talk about bitcoin , but this does not do justice to many other cryptocurrencies that have amazing things to offer.
Still Bitcoin was the first, and the famed Satoshi Nakamoto whitepaper was all about Bitcoin. It serves to be nothing more than it ever was – a decentralized, no-counter-party risk virtual currency. It’s an innovation that has been rewarded with massive investment by speculators.
Each day, over ten billion dollars worth of value now flows back and forth between buyers and sellers of Bitcoin worldwide.2 Compare this to XRP’s new average of one billion per day; it puts matters in perspective, and it also illuminates our path and shows us our current location and thus Ripple to Become virtual Gold.
XRP liquidity is rising every day ,one billion dollars in daily volume is exactly where Bitcoin was back on May 21, 2017., Bitcoin was averaging around one billion dollars per day in trading. Note that I’m quoting a point in time less than six months ago.
If you’re not amazed by that growth, you should be. That means that Bitcoin volume has been multiplied by ten, and XRP volume by approximately the same percentage.
This is great news for the main use case of XRP – as a replacement for Nostro accounts. There is now enough volume in XRP each day to move large value through the network without causing volatility. We – the collective we including Ripple – were waiting for this point. Before we reached our current levels of volume, the production use case for xRapid and Cuallix focused on micropayments.4
XRP has now reached a level of liquidity that exists only among the major global players; Somebody could buy a house with XRP and not even see the price rise or fall by a fraction of a cent. That’s the kind of liquidity we wanted, and now it’s here.
Ripple to Become virtual Gold | Ripple’s Plans
If there was any doubt from the XRP fan base about Ripple – the company – understanding the importance of promoting their coin, it can be dismissed.
After the initial April-May rally, and then the subsequent ROTG (Rally of the Gods) in December, there is very little in the way of room for self-doubt in the importance of coin promotion. To the XRP fan base: I’m not talking about marketing it to banks.
I’m talking about marketing XRP to you and me.
Don’t get me wrong – historically, some team members of Ripple understood that for liquidity to build, it needed to be built with ordinary investors in crypto. This is true regardless of how much the actual production usage of that crypto is palatable to banking customers – some of the most conservative customers in the world.
Yes, I understand that the sensibilities of banking customers are delicate. Banks & Financial Institutions do not like provoking the ire of regulators. Because of this, Ripple has been cautious since its inception in 2012, in dealing directly with those of us “first adopter” investors.
And then 2017 happened.
The power of the crypto markets is undeniable now, and its influence is growing rapidly. At first, the crypto market was a funny anecdote for some financial analysts, and it’s still mocked by comedians in various media.5 But it still hasn’t hit its stride. Here is where the crypto market capitalization numbers are heading. Note the the slope of the curve has become almost a 90′ angle: 6
After SWELL, Ripple decided to hire a communications expert. This is the sign of a growing organization that understands the importance of its public image not just with its main customers like banks and financial institutions, but also with a different but equally important audience – crypto investors.
Ripple hired Tom Channick for this role. His resume is most recently thick with experience at Facebook, where he served as Communications Manager for the
Advertising and Business Integrity Unit.
I am very excited by this hire.
Ripple chose a person that has experience in high-profile communications; somebody who understands the importance and potential impact of choosing the correct words and approach for communication. While other industries no doubt have strong candidates, I’m very pleased this person was a hire from a powerful social media conglomerate like Facebook. It’s exactly the kind of experience that Ripple needs to promote XRP to two completely different audiences.
Ripple is Supporting the XRP Community
Some of the XRP veterans may remember when Ripple had a very limited number of employees, free time, and financial resources. Those were the “old days” when Ripple had to make very difficult choices on where to invest their time and money, and it seemed – regardless of the reality – that Ripple was more focused on carefully managing their image in front of their conservative banking clientele.
I didn’t blame them for devoting a small percentage of their time to the community. In fact, I’ll go a step further; they made the right choices. They made all the right moves when it really counted – when they were building the core capabilities that is the basis of the XRP Ledger and the components that collectively comprise the nuts and bolts of RippleNet. Unlike some companies that create ICOs, Ripple understands the importance of actually building a product before marketing it.
In 2017, they’ve transformed into “Ripple 2.0”, and it seems clear to me now that they understand that they have two very different, but equally important audiences: Bank customers and crypto customers.
In my opinion, this understanding started to be evident in 2016 with the hiring of Miguel Vias from CME Group. That was an incredible hire, and Miguel is one of the most popular icons in crypto a year later. His presence on stage in May 2017 at Consensus was great publicity for XRP.
After the SWELL conference in October, Miguel has continued to build on XRP liquidity by meeting with XRP investors – at XRP meetups in Seoul and Tokyo. This sent a message to the crypto markets: Ripple understands the importance and potential of the (retail) crypto market, and is working diligently to raise the profile of XRP.
Announcements Incoming Before Year-End?
In case you missed it, a rumor of two “household names” was started by none other than our JoelKatz (a.k.a. Ripple Chief Cryptographer David Schwartz) on Discord about a week ago. Since then, speculation has been rampant about which names Ripple was going to announce. Some XRP investors want a consumer application to be one of the partners. Still others are dropping the names of major banks. Others are surmising social media companies might be involved.
All we know for sure is that Ripple indicated that they would make the announcement prior to year-end, in the Quarter 3 XRP markets report.
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