IBM’s BWW Launch Could Start Ripple and Stellar Price War
We recently told you not to be shocked if the price of Ripple (XRP) overtakes Bitcoin. As the project continues to win friends and influence people in the banking world, Ripple is starting to look like one of the only candidates for long-term success. However, every day brings something new in the crypto world and now Ripple price watchers are questioning their recent confidence. Following IBM’s recent announcement that its Blockchain World Wire (BWW) is out of beta testing, Stellar (XLM) could be set to shine.
IBM Could Boost Stellar Price
Although Ripple’s xRapid trials have been a success and certainly buoyed the XRP price charts in recent months, BWW could upset the applecart. Also aiming to tackle the issue of inefficient and expensive cross-border payments, this Stellar-based platform can simultaneously clear and settle transactions in real-time. Through its partnership with Stronghold, IBM launched its Stablecoin (based on Stellar Lumens) earlier this year to form a bridge between fiats and cryptos. In essence, BWW will convert a fiat to a digital currency, complete the transaction and then make the switch back.
By having the power to do this within minutes rather than days (using traditional banking methods), IBM is aiming to settle the long-running issue of costly payments between two different currencies. Now the platform is out of beta testing and IBM is shouting about it, the price of Stellar is starting to rise. Looking at the XLM price live on September 7, the value was up 2.77% on the previous day’s trading. With things on the up, it seems as though a storm is brewing between Ripple and Stellar.
Get Ready for the Stellar/Ripple Price War
Right now, both projects offer a similar service. Those supporting the price of XRP will point to the fact xRapid has been operational for months and is liked by banks such as American Express. Additionally, there is the argument that Ripple is a business and, therefore, more aligned with the ethos of banks. The counterargument for those tracking XLM price charts is that BWW is more decentralized and that means BWW can be added to any system. What’s more, Stellar is a non-profit, which means the costs are lower which, in turn, makes BWW more cost-effective.
The impending battle between Ripple and Stellar (XLM) is one that could go in either direction. One could kill off the other or their push for dominance could elevate the pair’s fortunes. Whatever the outcome, the price of Stellar in dollars and the price of Ripple are almost certain to move in the coming months. As other cryptos search for a way into the mainstream, these two companies have already done it. While that may not lead to a changing of the guard at the top of the crypto rankings, both Stellar and Ripple (XRP) should show signs of improvement as we head towards 2019.
*Information in this article should not be taken as investment advice.