CryptoWhale On Why XRP Is Better Than Bitcoin And Poised To Outperform All Other Altcoins
XRP is the most promising project for long-term investors, backed by its superior technology to Bitcoin and weight in pursuing digital assets’ regulations according to the renowned investor and trading advisor CryptoWhale.
CryptoWhale, who prides in giving non-biased and non-emotional trading advice regarding cryptocurrencies and often criticizing the overvaluation of digital assets, has recently been shilling XRP.
According to his latest Twitter Thread, his long-term investment and research on XRP have ascertained that it’s better than Bitcoin and will be the altcoin to defeat all others which are eventually doomed to fail.
XRP Is Better Than Bitcoin
Compared to Bitcoin, CryptoWhale asserted that XRP’s transaction speed of 3 to 4 seconds is 1000 times faster than Bitcoin’s 10 minutes and cheaper, with a more scalable network and better for the environment.
“XRP is a digital asset utilizing Distributed Ledger Technology like Bitcoin but that’s where the similarity stops.”
Additionally, XRP’s parent company Ripple is doing things right by working with the system to ensure proper cryptocurrency regulatory frameworks. He wrote:
“Ripple is the ONLY company on the market that is actively pushing for regulations. They’ve been working closely with government agencies to ensure they are fully compliant. This gives XRP a huge advantage compared to other altcoins which will eventually vanish.”
Ripple is the first distributed ledger technology (DLT) company that is a member of the ISO 20022 Standard, a global regulatory framework that aims at shaping the future of cross border payments.
Why is XRP Tainted?
According to CryptoWhale, 79% of investors fell victim to the 2017 FOMO and bought XRP at an inflated price of $2.50.When the price crashed, heavily exposed investors lost a lot of money with some taking Ripple and its CEO to court for “misleading investment advice”.
“This is has spawned lots of haters for XRP since many had lost money, which created a subconscious negative bias against the coin.”
Apart from Investor losses, the crypto community also frowns heavily upon XRP due to its high levels of centralization which they consider undermining to decentralized finance’s evolution.
XRP can only be issued as shares by Ripple and holders have limited access to XRP’s network which is a private blockchain with verified node operators who have to be approved by Ripple.
XRP Is Not Dead
CryptoWhale earlier stated that the fact that Ripple isn’t trying to replace the banking system but is integrating its technology to streamline the banking process is why XRP has been favored by large financial institutions.
Therefore, contrary to popular opinion, XRP is not dead despite its unimpressive performance over the years.
“While many criticize XRP for being dead, that is certainly not the case. XRP is up over 10,000 since inception. The logarithmic scale shows we’re just seeing a similar trend we saw in 2015-2017.”