We have said it over and over again. The cryptocurrencies that show adoption will survive and thrive, the rest will go to ‘crypto-heaven’. That’s what we explained in our Ripple fundamental analysis piece. Ripple continues to prove their technology is disruptive and a game changer. The last statistics show XRP (XRP) usage grows. We call this adoption, and it is the ONLY thing that matters for crypto investors, as per our Ripple price forecast. Yes, all these recent data points continue to prove that the path of XRP is much higher, even Ripple’s XRP becoming the largest cryptocurrency, larger than Bitcoin (BTC).
Crypto: It is all about adoption
This is what we wrote to our premium cryptocurrency investing members early March 2019:
In our crypto investing assessment framework it is ADOPTION that matters for future growth and stimulus of XRP prices. All XRP opponents talk about ‘crypto internals’ like market cap or technical features. Just to be clear: their point might technically be accurate, but it is irrelevant from a crypto investing perspective! The arguments of opponents are weak at best, and destructive for an investment portfolio at worst.
Obviously, cryptocurrencies will move higher on liquidity, which comes after adoption.
Remember, for once and for all, the only thing that matters from an investing point of view is growing adoption of a cryptocurrency.
Ripple is doing an amazing job in offering a disruptive technology. XRP is doing amazing when it comes to adoption. Ripple obviously helps XRP adoption even though both are not directly linked to each other, only indirectly.
XRP: Quarterly sales report
First of all, the quarterly XRP statistics are out. A big shout out to the XRP community offering this nice overview!
The key take-away here? Watch the evolution of wholesale sales, this is institutional investing demand. As said in our 5 Must-Read Cryptocurrency Predictions for 2019 we will see the start of institutions get in massively this year. We did make the point that XRP will benefit from this. It is starting to happen, and it will accelerate at some point later this year!
We absolutely agree with the comments from the author of this table:
The level of “Programmatic Sales” which is where Ripple sells XRP directly to people like you and me, was also the second-highest amount ever recorded by Ripple.
The two categories added together, and then measured against the volume numbers reported by Coinmarketcap.com, indicated that the total sales amounted to .32% of all the trading volume of XRP for the entire quarter. This basis point measurement was the second-highest amount ever recorded by Ripple.
So across the board, the first quarter of 2019 indicated an increase of XRP sales, which, depending on the timing of sales, added up to the $169 million dollars reported by Ripple in their formal Q1 report.
This amount is massive.
We would add one thing to this: it is just the beginning.
XRP micropayments rising
Here is another data point that proves out that there is real life adoption of XRP.
It shows the number of successful XRP payments as a 30 day moving average of the last 5 months. The different lines represent the types of payments.
Visibly, XRP is increasingly used for micropayments. The larger payments are not rising significantly because they are not as large yet in absolute numbers. That is changing though as you will see in the next section.
Ripple continues to announce ground breaking partnerships
The statistics above will show improvement over time especially in the larger payments.
Why do we think so?
- Coinbase, the largest digital asset exchange in the world, offers XRP as a medium of transfer since last month.
- Ripple is bridging the gap between India and Saudi Arabia with a new, fast, and cost-effective remittance corridor with Saudi British Bank.
- SBI Group is promoting R3 and XRP working together on international remittances.
- SBI Group is committed to get crypto to the masses in Japan.
- Ripple is growing to become THE number one platform for remittances in Asia, which is a massive market. It is really specific for Asia, and not known in the West.
Just to illustrate the last point:
Paul Arriyavat, Vice President, Disruptive Technology Office, Siam Commercial Bank (SCB), even put a number on it: $68 billion that migrant workers in Southeast Asia send home.
Ripple disruptive tech, XRP adoption, the perfect investing thesis
Our viewpoint at InvestingHaven is simple and clear.
Ripple offer a game changing, disruptive tech stack. It signs up a growing number of clients and partners leverage their unique value proposition as part of the ‘internet of value’ in a way that it helps drive adoption of XRP.
This is unique. Not any other cryptocurrency has a similar driver.
It is the reason we are strong believers of a great outlook of XRP. As per our investing thesis liquidity will drive the XRP price higher, and credibility by institutional investors will accelerate this.
We stand strong on our XRP price forecast of 20 USD and the above data points only provide evidence that our forecast is underway. The question when exactly XRP will rise to 20 is irrelevant in the bigger scheme of things!