In recent weeks, for the Ripple company the "X" continues to mark the spot and we in the cryptocurrency community have been witness to the demise of a heavyweight in the now $1 Trillion dollar virtual currency market.
However only one question has my attention, which coin will take XRPs' place? So I'm reaching out to you my fellow cryptocurrency HODLs..
XRP Replacement Candidates
Since officially noted XRP will be delisted, suspended or possibly shutdown there's a need for a temporary or long-term substitute. Banks are still helping push adoption in some way and XRP was the clay molding the shape. Fast, borderless, international transactions completed in seconds and trustworthy.
XLM
Average Price $0.35
Circa. 21,983,333,410 XLM
Total. 50,001,803,566 XLM
TRON
Average Price $0.03
Circa. 71,659,657,369 TRX
Total. 100,850,743,812 TRX
DGB
Average Price $0.03
Circa. 13,916,000,900 DGB
Total. 21,000,000,000 DGB
ZIL
Average Price $0.08
Circa. 10,817,841,309 ZIL
Total. 21,000,000,000 ZIL
IOTA
Average Price $0.35
Circa. 2,779,530,283 MIOTA
Total. 2,779,530,283 MIOTA
AELF
Average Price $0.10
Circa. 544,480,200 ELF
Total. 1,000000,000 ELF
XVG
Average Price $0.03
Circa. 16,415,253,143 XVG
Total. 16,555,000,000 XVG
XRP Delisting/Suspension Exchanges
Although not much more has been revealed about the suit except it has pending litigation, many exchanges have moved forward with suspending trading at least till there's a later determination or outcome. As it has been only recently made known and without any definitive outlook.
However, while trading many suspended holders will still be able to access their holdings through the Deposit/Withdrawal functions.
Coinbase
Bittrex
Crypto.com
OKCoin
Simplex
Wirex
Bitstamp
eToro
XRP Supporting Exchanges
XRP has not been completely outcasted or shutdown by pending litigation.
Some exchanges have chosen to stand by Ripple till there's a later determination or outcome and XRP is still legally tradable as a cryptocurrency.
The only determining factor for exchanges making the choice to delist XRP is how profitable can XRP remain during the lengthy litigation process?
Following excerpts are from Blockchain News appearing in one or more articles written by journalist Shine Li which includes statements made by Uphold Exchange, Revolut Exchange and Stellar Development Foundation.
Can something be born a security and metamorphosize into something else? How is ‘invoking billion dollar losses for innocent third parties’, as an ex Commissioner of the SEC recently put it, in the interest of protecting consumers?
We might also have to halt trading with very little notice if the liquidity on our partner exchanges drops and we can no longer buy or sell XRP.
In a statement by Stellar Development Foundation, the company stands by a growing list of 65k in the cryptocurrency community opposing over reach:
New technology deserves new approaches to regulation. The proposal from FinCEN seeks to apply a regulatory framework designed for a centralized, intermediary-based financial system. That’s not blockchain. Foisting antiquated rules onto entirely new paradigms doesn’t work – and it won’t work here.
In My Opinion
In my opinion, there are many good candidates to take XRPs place. My personal favorites are Stellar, IOTA, Tron and Aelf. However, any one of the coins listed entirely in the beginning will be good.
Moreover, many feel the SEC may be over reaching and intruding on the cryptocurrency space to destroy 12 years of progress.
Many may be justified and have legitimate concerns concerning this matter.
Personally, I have encountered some bad actors dating back some three years whom not only are waiting to infiltrate the cryptocurrency community and destroy Satoshi Nakamotos' vision. So our fight is not only against over reach but other Americans as well which is the sad truth.
Nevertheless I will be standing by the side of the blockchain companies like Uphold, Revolut, Stellar Foundation and Coinbase. Because while Coinbase exchange which is one of my favorites may be suspending XRP trading, the company is still 100% committed to DeFi, fighting over reach and bad actors while managing keep our funds safe and our identities private.
