Ripple is off the pace as a cryptocurrency

RIPPLE is not seen as a cryptocurrency by financial professionals and experts are arguing it should not be listed next to bitcoin and ethereum.

Jens Bader, payments expert and co-founder of a brand new payment company MuchBetter, said: “Ripple is somewhat off the pace, both in terms of its market position and its identity as a cryptocurrency.

“It might be a good complimentary currency to bitcoin and ethereum, but since it is a centralised system, it does not live up to the brief of what a cryptocurrency is meant to do, and the USPs of blockchain technology.”

Greg Adams, proprietor and managing director at blokt.com, a site which reports on blockchain and cryptocurrencys' said: “Ripple was designed to provide cross-border settlement between banks. It is solving the problem of slow settlement speeds and high operational costs.

“However, XRP is centralised and was not intended for retail use, it already has an extremely high valuation so I would advise prospective buyers to steer clear for now.”