As evidence that my previous assertions on Ripple XRP were correct, the following article pretty proves that banks need stability, so a pegged crypto makes the most sense.
XRP is a trader's dream, but the reality is it is not needed and the XRP bubble will probably burst first.
This is critically important to XRP HODLers. XRP is a great trader's coin, but the HODL dream is not going to go well in the near future.
World’s Fourth Largest Bank MUFG To Launch Own Cryptocurrency In 2018
MUFG is the largest financial company in Japan and is set to become the first Japanese bank to issue a virtual currency, Mainichi.jp reports. The bank had plans to develop a cryptocurrency as far back as 2016. According to Mainichi.jp, the launch date has now been finalized and is intended to take place in the FY 2018.
Based on Blockchain technology, MUFG coin will allow users to conduct instant person-to-person transactions as well as shop with lower fees. MUFG stated the company will process all the transactions from its cryptocurrency’s network, claiming that such an approach will help improve the stability of the coin.
The bank also plans to peg one MUFG coin to one Japanese yen in order to maintain people’s confidence in the new cryptocurrency.
AND if that wasn't enough, this writer explains it well, EXCERPT:
Ripple Tokens Could Be Worthless
Jan.16.18 Andrew McElroy
Ripple's xCurrent system is changing the way money is transferred around the globe. Over 100 banks and companies have signed up. But xCurrent does not use XRP the token; only the xRapid system does. xRapid currently has only one small user and one pilot. There is very little information about the xRapid system. XRP hinges on its success; without it, XRP is basically worthless.
Before I get started, let me try to deflect some unnecessary comments by saying this article is not about Ripple the company. Ripple the company has developed innovative solutions for the transfer of money and has signed deals with many major banks. RippleNet is likely to replace the SWIFT payment system, which is now 45 years old, slow, and expensive in comparison.
This article is about the Ripple token, XRP, which I will argue has practically no function at this moment, apart from letting speculators bet on Ripple's success (and making Ripple's creators very rich).
Ripple Price Drops to 2.5-Week Low, Eyes Sideways Trading
XRP is likely to trade in the sideways manner in the range of $1.80 to $1.00 in the next day or two, before resuming the sell-off.
Overall, prices look set to $0.8610–$0.60 levels in the short-run.
Bullish scenario: A rebound from the 50-day MA, followed by a quick move above $2.25 (Jan. 11 high) would signal a bearish-to-bullish trend change.
Why would they use XRP, when they're creating their own pegged currency? Won't happen.
If you still find it completely irrelevant, let's do a little math here. Let's get really crazy and assume XRP reaches the market cap of the entire S&P 500, which currently stands at around 24T. Even taking into account only the currently tradable tokens (roughly 39B), we get the token price of $615 (effectively making most of us multimillionaires). Even then, the transaction fee would be slightly more than half a cent! So when someone claims the banks won't use a money transferring system because its fees may fluctuate by a fraction of a cent, I think they don't really know what they're talking about.
As for that MUFG, do you seriously believe that a token issued and controlled by a single bank would be trusted by the rest of them? If so, I think you better stick to TA, buddy ;)