The current downtrend in the market has many investors wondering what could happen next. This is so, despite the bullish sentiment that in the aftermath of Consensus 2018, Bitcoin will rally- pulling everybody else up. Two of the coins that are in dire need of a stretched hand is Verge (XVG) and Ripple (XRP). While both are trending double digits into the red, there’s a feeling that the former will moon faster. Here are a few reasons explaining why this could happen.
Partnerships that are delivering immediate usability
Ripple (XRP) has entered into partnerships with banks and other financial services firms over the years, but the unfortunate thing is that most of them are with the Ripple Labs blockchain solutions, not the XRP token. The recent announcement about its product xRapid has yet to gain traction, even though it promises to be a good selling point for the XRP token.
On the other hand, Verge has made partnerships that seek to make XVG use and adoption increase at a global rate. These partnerships are already driving the acceptance of Verge’s native coin more than it’s happening for Ripple. Coupled with an upcoming meet-up that is galvanizing the Vergefam (XVG community) I can only see this going one way in the near future.
Micro-payments driving adoption
The XRP coin can do what XVG does, but that isn’t what its primary use was. However, Verge was created just for such payments, utilizing the Bitcoin code but adjusting for speed and privacy. Simple Payment Verification (SPV) and the Wraith protocol have given Verge the advantage of being used both by privacy-focused users and general merchants who want to leverage the privacy for their business payments.
Therefore, the number of vendors accepting Verge is shooting into the roof, while Ripple tries to figure out which institutions are going to utilize its solutions. As such, increased adoption for XVG means it will likely gain in value quicker once a rally gets going.
Negativity has dissipated
Even though XVG is currently trading much lower than its top ten counterpart, the air of optimism around it is helps the community of hodlers in such bearish times. On the other hand, the 3rd ranked Ripple is surrounded by an air of uncertainty concerning possible classification as a security.
On the contrary, Verge appears to have stemmed from the negativity and FUD that engulfed it in Q1 and things are looking up. The threat may be there, but compared to the other coin, it isn’t heightened at the moment. This encourages investors to buy and hold the coin. The positive hype around Verge (XVG) at the moment can’t be matched, not by Ripple.
Accessibility on exchanges
Another very important factor that could play a vital role in XVG is accessibility. Verge is currently listed on more or else the same exchanges as XRP. However, there are speculations that the privacy coin could end up on one more major exchange in the US.
The probability is pegged on the increased awareness for the coin and its already established user base. We know that the more exchanges, the more the coin is seen as legitimate and credible. This connection could work in favor of Verge, helping it to the moon faster than Ripple (XRP).
Predictions put XVG ahead
According to predictive site finder.com, XRP will drop by the end of the year, losing by -15% on its current price. Nevertheless, experts are optimistic that Verge (XVG) has a bullish outlook. It is projected that XVG will likely grow over the rest of 2018. According to prediction site coinliker, Verge’s token will appreciate, hitting $1.41 by end of 2018 and for hodlers, $10.57 in five years.
The main reason behind the bullish call emanates from the rate at which the community and public are beginning to use the coin. It’s also pegged on the increased awareness among the users who are likely to choose a privacy coin like Verge over its competitors due to global appeal.
Verge price conclusion
Verge (XVG) currently trades at $0.055 against the US Dollar, trending in the red by -11% over the last 24 hours. It’s also -23% down in the last 7 days. The current market cap is $801 million, with $28 million worth of the token traded I the last 24 hours. It may not appear very promising, but this coin has gone on a rally before and could do so again. The only piece of the puzzle missing is whether it has what it takes to moon before Ripple (XRP) does.