Both Stellar (XLM) and Ripple (XRP) are commonly compared in the context of providing similar solutions in the cryptocurrency world. XLM and XRP envision conquering the financial world by handing out the best solutions for cross-border transactions. In particular, this relates to speed, time, and fees. The predicament of having the same goals has been a common discussion in the cryptocurrency world for quite some time now. Fortunately, the discussion might soon end considering the fact that Ripple is currently struggling with lawsuits and security problems. Therefore, this might give Stellar an amazing space to shine and show the world how spectacular their platform performs.
Currently, according to CoinMarketCap, XRP trades at a price of $0.350714 USD while XLM is closely behind trading at $0.232426 USD. Considering the jump in the price that Bitcoin (BTC) is seeing, XLM and XRP saw a huge boost recently. However, in contradiction to the above statement, it is evident that it is no longer a matter of price. Ripple has in the last couple of months had rough times by suffering many lawsuits. One in which they claimed that the XRP token should be handled as a security, and another one by having the Securities and Exchange Commission (SEC) going after them with the high possibility of declaring the cryptocurrency as a security asset instead of a digital asset.
Despite the Ripple team’s great effort to dispel the rumors, it is becoming evident that things are not working out for them as they had hoped.
A lot is at stake unless Ripple resolves the lawsuits and centralization problems fast. They are unlikely to appear on the acclaimed Coinbase exchange until these issues are resolved. That aside, it is now known that Coinbase is considering adding XLM to their trading portfolio. This may likely occur after Stellar released its blockchain 3.0, which is an extremely promising project.
Join our Telegram Group To Stay Up To Date With Crypto News
One of the top performing cryptocurrencies of the day is REPO. REPO (REPO) is currently up 72.75% compared to USD…
As the world is moving towards Blockchain, gaming giant Atari too wants to dip its toe into the emerging technology.…
Private equity firm GSR Capital has hired tZERO, an Overstock.com subsidiary, to develop digital token for trading cobalt. Overstock said…
On Monday, December 17th, Gulf News reported that the advisory council of the United Arab Emirates Banks Federation (UBF) can adopt blockchain use…
France's financial regulatory watchdog - Financial Market Regulator (AMF) is working aggressively to bring down unauthorized crypto companies. The AMF…
There's a flood of new stablecoins hitting the cryptocurrency space in the last few months. A stablecoin is basically a…