The crypto winter is creating serious challenges with many crypto startups, and a series of layoffs were announced recently. Notably, the leading Ethereum development company Consensys is likely going to lay off 50% of its 1200 collaborators. Not so with Ripple where the growth of the startup is well managed, and the XRP (XRP) token continues to grow in terms of transactions and use cases. A remarkable 128 realizations were announced during the past quarter. Conclusion: Ripple is one of the few crypto startups that thrives during this crypto winter, and it adds up to the evidence that our XRP is on its way to materialize our Ripple XRP forecast for 2019 or 2020.
Last week we published a report on Ripple in which several deep-dive discussions with Ripple executives, separately, were summarized: 10 Must Know Facts About Ripple and XRP For Investors. CEO Brad Garlinghouse considers 2018 to be an heroic year for Ripple amid the crypto winter:
- In employee terms Ripple is employing 300 employees today with a strong growth in 2018.
- In terms of customer growth Ripple has seen a growth of 2 new production customers per week. Note that in no way did Ripple expect a year ago to sign up 100 new customer contracts in 2018 also knowing that Q1 was slow.
- There are now customers in 40 countries across 6 continents with steadily rising transaction volume. For instance Catalyst Corporate Federal Credit Union came online recently, and its serves 1400 credit unions settling payments from the U.S. to Mexico.
Today, we provide some more color to this by looking at the top realizations specifically in the past quarter. Kudos to the author of this article which shows 128 realizations by Ripple in that same time period.
Note that these 128 realizations may be categorized as follows (our own interpretation):
- 74 fall in the category of exchanges, including trading of XRP on new exchanges or new currency pairs.
- 16 new partnerships or clients making use of Ripplenet.
- 38 would fall in the category of new partners, software and service improvements, companies accepting XRP payments, and so on.
This is really unusual. We challenge anyone to look for a similar track record of any other crypto startup which has a cryptocurrency or token, but we are pretty sure there isn’t any other in the space out there. This, indeed, is the reason why we believe at InvestingHaven that Ripple’s XRP is on its way to become the largest Cryptocurrency and why it Ripple’s fundamentals suggest XRP will move to 20 USD during the next crypto bull run.
Top 10 Realizations by Ripple and XRP
We realize we should always split Ripple (the company) from XRP (the token). In the context of this article though we are going to select one list which includes Ripple and XRP realizations, it is our top 10 from this list of 128 realizations.
- Cebuana Lhuillier, the largest microfinancial institution in the Philippines, to use RippleNet’s blockchain technology for faster, more secure money transfer services.
- MoneyNetInt, a UK-based payment service provider for online merchants, joins RippleNet.
- SBI launches Money Tap, a Ripple powered payments app for domestic payments in Japan.
- A document is released by SADAD, a payment provider in Saudi Arabia, that reveals that they are an xRapid partner. Since then the document has been removed, possibly due to an NDA.
- Siam Commercial Bank (SCB) extends its work with Ripple to create a payments network throughout Southeast Asia.
- R3 launches universal Settler application to facilitate global payments on Corda. XRP is the first settlement mechanism supported by the blockchain solution.
- Securitize, a compliance platform and protocol for issuing and managing digital securities on the blockchain, raises $12.75 million from investors that include Ripple’s Xpring fund and Coinbase Ventures.
- Omni, a rental platform that is supported by Xpring, introduced XRP cash outs.
- CIMB Group joins RippleNet to power instant payments across ASEAN.
- Last but not least, although not part of the 128 items, we believe this is a very strong point and argument against the XRP-is-not-decentralized thought. The XRP Network reached 1000 nodes early December with a decreasing number of nodes coming from Ripple (the company) itself. As shown on below chart Ripple has a decreasing stake in the XRP Network which went from 40% in September to 27% at the end of the year.
Make no mistake this is really impressive, especially as this is a series of realizations during the crypto winter.
Note that these items are even going beyond the core of Ripple’s XRP value proposition. Ripple’s strongest capability is to speed up cross border payments with a factor of 1,400: Ripple is close to increasing the cross border settlement time 1,400 times faster than the regular payment takes today through the use of Ripplenet and the XRP token.
But by carefully looking at Ripple’s realizations it is clear cross border payments is not their only focus (though the most important one). What we are saying is that Ripple continues to pivot until they have found a second major product/market combination with their technology.
Stay tuned, as we believe 2019 will be at a minimum an equally strong, if not stronger year, for Ripple and the XRP token.
Find out how XRP relates to other crypto assets in our crypto portfolio for 2019 (become a member first) >>
CRYPTO & BLOCKCHAIN INVESTING: Get access to our investing insights: fundamental + technology + chart analysis! Find out our top 10 cryptocurrencies + 7 blockchain stocks. Get instant access to our crypto & blockchain research + portfolio >>