Is Ripple poised to benefit from Bitcoin’s fall?

Ripple is in a position to benefit from the damage done to Bitcoin…

Days after it ducked under the $4000 mark for the first time since the autumn of 2017, the price of Bitcoin remains under pressure, and just about holding between $3500 and $4000 (popping its head back above $4000 overnight). That’s still over $2000 less than the price was just three (long) weeks ago, and dramatically down on its value at the end of last year.

That said, in spite of its pricing challenges, Bitcoin has remained the most popular and valuable cryptocurrency. But its dominant position may well be under threat, and Ripple looks like its in a position to benefit.

Ann-Kirstin Iversen is a Ripple investor, who also works in development and real estate. And she’s one of a growing number of crypto advocates who reckon Bitcoin’s day may nearly have come.

“I think Bitcoin is in trouble”, she said, “and I don’t think we have seen the bottom yet. She added that “seeing how the egos of a few men can practically tank the market is frightening”.

“XRP is faster and cheaper than other mainstream cryptos”, she continued, “and it has real world use cases. As the current market is showing us, pure speculation is not enough”.

Whilst the price of Ripple has been as pressured as its crypto peers, the growing interest in its underlying blockchain technology has suggested interesting times ahead. That there’s a little more substance underneath the Ripple currency that offers it more protection against price swings than Bitcoin currently has.

With the bottom yet to be found with the Bitcoin market, Ripple may well be poised to pounce…

Image: BigStock