There’s been some interesting turmoil in the crypto industry lately. The Ripple cryptocurrency has been in the spotlight once again, following the conclusion of the case of the SEC vs XRP.
Consequently, it can be very interesting to analyze the XRP cryptocurrency. We can also try to understand what this means for the industry in general. Moreover, we can compare CRO vs XRP to see whether the latter’s technology can still compete with the latest advancements in blockchain tech.
In this article, we compare Cronos and Ripple and try to understand their fundamentals, similarities, and differences. Finally, we take a look at some price predictions that should provide us with a good idea of which one to invest in.
Cronos is the native blockchain of the Crypto.com ecosystem. Initially a centralized exchange, Crypto.com has evolved into a full Web3 ecosystem. Today, it is hosting smart contracts, centralized and decentralized exchanges, NFT marketplaces, games, and much more.
The CRO cryptocurrency came on the market as early as 2018 and served to receive rebates when paying fees on the centralized Crypto.com exchange. However, upon the release of the Cronos blockchain, the CRO token became the gas currency of the smart contract blockchain.
Hence, users can now plug in their CRO tokens in the growing DeFi ecosystem on the Cronos blockchain, in addition to its acquired use cases. Consequently, CRO witnessed a huge surge in value in the 2021 bull market, when its price reached an all-time high of $0.9 per token.
With its scalable smart contract blockchain, Cronos caters to onboarding mainstream and institutional users.
What Awaits CRO in the Future?
The bear market has been quite harsh on the CRO cryptocurrency. The token has significantly dropped in value from its ATH of $0.9 to a current $0.06 price level.
Despite this downturn, prediction websites like priceprediction.net provide some bullish forecasts for this crypto. For instance, their analysts hope to see CRO reach $0.18 by 2025 and go as high as $1.16 by 2030.
What Is XRP?
The Ripple platform is a decentralized ledger network that is aimed at financial institutions like banks and governments. The idea behind this network is to provide a highly scalable payment network that will allow banks to send money across borders at minimal costs.
To achieve this, the Ripple network uses preset validators that verify transactions on the network. Institutions can tokenize any assets through IOUs and send them over the network almost instantly. This includes fiat currencies, commodities, and even other cryptos.
This solves the issue of sending fiat currencies abroad, as there’s no need for the destination bank to hold any of the original currency. Instead, the funds are bridged either through IOUs or by sending XRP, the native token of the network.
The Ripple company has been under heavy regulatory scrutiny in the past years, as the SEC was suing its co-founders for selling unregistered securities. However, just recently, a judge ruled in Ripple’s favor, deciding that XRP is not a security, allowing the price of the token to surge 80% in a few hours.
XRP Price Forecast
The XRP token has seen some heavy volatility in the past few weeks, following the resolution of the SEC lawsuit. This allows priceprediction.net to provide us with some upside potential in their forecasts.
The website provides a price target of $2.24 for 2025, whereas for the long term, a price level of $12.00 for 2030. If this forecast is true, the XRP token would have reached 3x its all-time high before the next decade. So next time you swap ETH to BTC or vice versa, think about other coins like XRP that can bring you profits.
What Crypto to Choose?
Cronos and Ripple are quite dissimilar cryptocurrencies and cater to different types of users. This means that their price action might depend on different macroeconomic factors, allowing holders to benefit from market movements at different times.
Consequently, if you are building a bull run portfolio, both of these assets might find a place in it. If you had to choose only one, XRP stands out by its huge community and institutional support.