Ripple against Bitcoin

As it turned out that, India can not prohibit cryptocurrencies in the end, the Ripple Exchange [XRP] showed its detailed strategy in how to defeat Bitcoin in the country. The third largest cryptocurrency is so fast that it dominates the Indian cryptocurrency sector. Ripple even considers the possibility of issuing a 2 billion XRP tokens ($880 million) as a promotional offer. Meanwhile, Bitcoin began to observe an unexpected surge in trade operations in India due to its sharp fall in prices after a court decision.

The implementation of the plan seemed unworkable for Ripple. The company's vice president, Ashish Birla said that, they decided to cooperate with large banks instead of dealing with potential difficulties in distributing XRPs to billions among Hindus.

"We know that if you get the three largest banks in India on Ripple, you will get an 80% market share. Where is the future? Those. we realized that in the next 5 years, one billion people are in banks in India via their phone. Then we started to focus on the providers of mobile phones and telecom operators. Now, I think that in our supply system, we probably have 50% of the market in India, integrated into Ripple or into a deal,

- quotes Birla, saying that the conference Scaling and Digital Disruption in Fintech.

According to Birla, Ripple owns 60% of the total supply of its digital asset XRP. It grows rapidly and closes more than the deal per week.

Earlier it was said that the price for Bitcoin faced sharp price fluctuations in India due to the fact that the Supreme Court of the country established a ban prohibiting banks from providing services for crypto-exchanges. The ban was introduced in April by the best banking regulator of the country RBI.

In addition to this, the price of bitcoin has significantly decreased over the year. The price of bitcoin has decreased from $ 20,000 to $6,261 for 8 months. Now it is trading at around $9,270. According to sources, site traffic fell from 126.5 million visitors from January 2018 to 28.4 million in June.

The price of Ripple for the last 6 months has strongly declined, falling almost 77% against the US dollar. At the time of this writing, it traded 1.38% lower at $0.4416.

According to the report of the Global Coin Report, the coin has the potential to complete the year, 10 times its current value. Ripple is a relatively good investment opportunity compared to other cryptocurrencies in the market due to low prices and future potential.

At present, XRP ranks third in market capitalization with a volume of $17.34 billion.