In an independent review of XRP conducted by Lennard Neo Picolo Research recently, the whole journey of the cryptocurrency across the third quarter was mentioned. Here, the report also included competitor analysis for Ripple the company and conveyed the risk factors associated with the business.
The research divided the competitors of Ripple into two sectors: blockchain and traditional. SWIFT and PayPal are the two big services that are speculated to be sidelined by Ripple’s disruptive technological approach in the payment industry. Furthermore, the report also included that the blockchain firm is going to take over the major industry players by making money settlements faster and cheaper.
Within the blockchain industry, the report identified OmiseGO and Stellar as the two players that are emerging as competitors to Ripple.
Picolo Research stated that the confusion that Ripple and XRP are one entity can pose as a risk to the ecosystem. Other points that the report conveyed as the potential threats for Ripple were:
“Concerns of XRP being centralised as Ripple owns 60% of total tokens
Lack of clarity on the classification of XRP being security or not
Ripple’s ongoing lawsuits could create headwinds”
Concluding the analysis, the document mentioned the intrinsic value of the XRP token to be evaluated at $1.75. It also added:
“This estimates used are conservative as it does not include tokens burnt, the growth of Ripple’s market share, value attributed for error reduction and market share of other non-bank financial institutions.”
Lastly, $1.75 was also presented as the ‘buy rating’ for XRP, which is considered to be around 289% upside potential for the cryptocurrency. The report also made the speculation that XRP will continue to be one of the top-three cryptocurrencies in the market while gaining success in the global financial industry.
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