The recent release of the Codius smart contract platform had many Ripple (XRP) fans excited for it was being released by the former CTO (Chief Technology Officer) at Ripple, Stefan Thomas, who now runs Coil. This means the new smart contract platform is in extension, part of the XRP family. Its chief goal is to introduce the interoperability of the different blockchains as well as to come up with new ways of monetizing the web, rather than the traditional way of doing things. Therefore, this is one reason to be bullish about XRP.
But will XRP reach $10 levels with Codius alone?
Absolutely not, XRP needs more than a revolutionary smart contract platform to accelerate its meteoritic rise in the crypto markets. One factor that will boost XRP, is the recently launched SBI Virtual Currencies cryptocurrency exchange. The exchange focuses entirely on Ripple. This is because the parent company of SBI Holdings has been a partner of the Ripple company for over 2 years now. Its CEO, Yoshitaka Kitao, has been quoted as saying that the exchange will be number one.
Mr. Kitao has also been bullish about a $10 XRP all year long. He has twitted numerous times about this price prediction and is serious with the new SBI Virtual Currencies exchange. Also to mention is that the exchange is based in Japan which has over 3.5 Million known crypto traders. This is a large customer base for the exchange.
Another factor that will accelerate XRP to greater heights, is the recent statements of Ripple’s CEO, Brad Garlinghouse, that dozens of banks will be using Ripple products by 2019. This means that these banks and remittance service providers will most likely use xRapid which is the only Ripple product that uses XRP to source instant liquidity for international transactions. This means the more times xRapid is used, the more XRP is sourced from the circulating supply creating a ripple effect of demand that will gradually raise the price of the digital asset.
Last, but not the final reason that XRP will reach $10, is the Ripple community of HODLers and traders. Ask any of your crypto-trading friends if he or she owns some XRP. Few, if not all, have some XRP in their crypto portfolio. The community participation and actual use of XRP for transactions will make it skyrocket in terms of value. Therefore, the time is now to be individual crusaders of XRP by actually using it for payment transactions.
In summary, there are a lot of factors that will guide XRP to the much anticipated $10 value. Any Rippler knows the only thing to do, is to continue supporting the efforts of the parent company in ‘taking over’ the financial system. Ripplers are also known to be very loyal HODLers and buyers of the coin when its value dips a bit. This last habit should not be abandoned, but rather, should be encouraged moving forward.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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