Ripple Transactions

Will Ripple Continue To Increase?

By kisisel | Let's Learn Together | 24 Nov 2020

If we are to talk about Ripple, we must first know that it is not only a cryptocurrency but also a trading platform. This platform aims to make transactions quickly and cheaply. The Ripple platform, which does not want to be just a payment tool like Bitcoin, takes an important role in the management of international transfers by going one step ahead of Bitcoin.

At this point, if we use our imagination, we can easily see that all transactions that can be done with Bitcoin can be done with Ripple. Moreover, let's imagine that banks are doing these transactions instead of crypto money exchanges that have not yet proven themselves, so in a way, banks have managed to integrate themselves into the crypto money industry with Ripple. At this point, perhaps Ripple may be possible to dethrone Bitcoin over time. But Bitcoin's limited production policy leaves us with the fact that it is a great revolution for our world. So even if Ripple really dethroned Bitcoin one day, Bitcoin will always exist.

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That's enough to dream. Now, let's try to understand the price movements that occur today by looking at Ripple's logic. Let's say Robert, who lives in England, has an English book and wants to replace that with a Spanish book; William, who lives in Canada, has a French book and wants to replace it with an English book; James, who lives in the USA, has a Spanish book and wants to replace it with a French book. While it is quite difficult for these people who do not know each other to reach the books in the language they want, it is enough to say "I have an English book in hand and I want to replace it with a Spanish one" on the Ripple network. The system responds to this demand by finding the fastest and cheapest combination.

This convenience and this speed adds strength to its strength with the network that spreads throughout the world day by day. Of course, this power draws more power to itself. The fact that Bank Of America, known to have been testing Ripple products for a long time, has joined the Ripple network, causing rumors that Central Banks are also starting to buy Ripple. This situation may have affected banks all over the world with a domino effect. In this case, we can easily say that Ripple, which is rising very rapidly, is taking firm steps towards becoming the largest trading platform that the whole world will use, as its expert team imagines.

It is difficult to predict how long this rapid rise will continue. However, we can say that the use of Ripple as an international trading platform will increase with the increasing popularity as a result of this rapid rise.

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