Ripple blockchain has proven its fundamental value over the course of 2018 as the crypto space grew significantly. In fact some of the early XRP enthusiasts are optimistic that the altcoin will regain its second position in market cap as Q4 unfolds further. At the moment, Ripple is 3rd in market cap following the famous Ethereum closely after a few attempts to overthrow the ETH altcoin towards the end of Q3.
The success of Ripple can mostly be attributed to the project’s fundamental progress as opposed to an attractive price action based on speculation. XRP has managed to maintain an over $15 billion market cap for the better part of the year while making strategic significant alliances both in the East & West. It is such milestones that have seen XRP rise while its peer competitors like ETH largely suffer from the frequent bearish crypto markets in 2018.
Ripple’s Swell Conference Success!
Recently, XRP concluded its second annual customer conference known as Swell. The event marked one of the biggest accomplishments for the XRP project in 2018 after being graced by President Bill Clinton. Ripple’s community, analysts & journalists build a lot of hype on the event which probably led to the crypto coin’s sudden market surge although it is yet to hit its 2017 highs. Other senior industry players within the Fin Tech sphere were also present during the two day event that saw a range of blockchain-related issued discussed.
XRP’s success has however been gradual despite the recent outstanding performance. Looking at the stats, the altcoin gained over 65% within a month & a half while most of the cryptocurrencies were struggling. During the recently concluded Swell, Ripple’s community & other stakeholders were able to reflect on the project’s progress & a general feel of the ongoing activities within blockchain. XRP came out confident during the event & its co-founder, Chris Larsen, has continued to champion blockchain adoption to improve todays’ systems.
XRP Q4 Market Hurdles
The Swell conference highlighted one of the main challenges within the cryptocurrency market that is regulation in different jurisdictions. Countries especially in the East have proven to be crypto savvy have called for their authorities to be more keen on the policies involving digital assets. India & China are famous for their crypto-related bans but it is the most recent development in India has raised concerns for the top 3 crypto coins scalability prospects.
According to news sources in the crypto arena, Indian authorities have cracked down on ATM providers for Bitcoin, Ethereum & Ripple. This comes when a famous crypto exchange ‘Unocoin’ just launched the services for India’s crypto market. Ripple’s in roads into Asia have not been without challenge although some scenarios have proven to be out of the company’s reach.
As of press date, India’s new crypto entrant has reduced significantly in comparison to 2017, something crypto analysts have attributed to the strict approach by regulators. Ripple however stands a chance given the company’s strength in its Global payments tech for institutions & a native token as an addition to leverage the crypto value!