Talking about humble beginnings, we have a strong example of Apple Inc. (NASDAQ:AAPL) that started out as a group of young enthusiasts working on their first project ever in a garage, later on gaining the status of the first public trillion-dollar company.
As of August of the current year, the shares of AAPL spiked up to reach 207$ per one unit, allowing it to take the title of the first trillion-dollar company in the public domain, and it all started off with Steve Jobs and his original team working on their first Apple personal computer, achieving a massive momentum almost immediately and reaching a large-scale success with the release of the first iPhone.
Starting out with the first computer design in a garage on the head with Steve Jobs back in 1976, during the 42 years of work and exposure of Apple products, the company reached a trillion in its market cap, followed with a sudden rise of share prices once Tim Cook has taken over the role of a chief executive, which was previously held by the late founder of Apple, Steve Jobs.
With the latest announcement that Ripple is releasing xRapid as a product that should promote the utilization of XRP, it is tempting to suggest that Ripple Labs might become the next Apple in the crypto space, aiming at replacing swift systems for remittance payments that are traditionally used by banks and financial systems at the moment.
Can Ripple Match the Unspoken 1 Trillion-dollars Goal and become the Apple of Crypto Space?
Apple might not have been “a thing” at the mere beginning when Steve Jobs started out with working on Apple’s first personal computer with a small group of friends, but 42 years later, we can see it achieving a tremendously flattering market capitalization of 1 trillion dollars.
As CNBC reports, Apple Inc. with having achieved this milestone as the first public company to have reached 1 trillion dollars market cap, also has a great “historical” potential of going beyond this value.
One of the major cap boosts is reflected in the success of iPhone, which is a rare product in the market of smartphones and similar rival products, that managed to reach out to a “flat” targeted audience, also allowing for a steady pace of growth, which hasn’t been recorded at Apple’s rivals, like Samsung, as CNBC reported back in August when the company reached its trillion-dollar cap.
In oppose to Apple’s humble beginnings as well as the tremendous achievement over 40 years later, we can draw a comparison between the somewhat difficult beginnings of Ripple Labs in the domain of allegations that hit the reputation of XRP as well as the company’s reputation.
As Ripple is still waiting for the SEC to decide whether XRP makes a point as a security or currency, the company on the head with Brad Garlinghouse suffered from three different lawsuits that carried accusations of having Ripple Labs utilizing XRP as a security for funding of personal ventures, also accusing the company for promoting a “centralized” asset as decentralized blockchain-based entity, referring to XRP.
Although the beginning of XRP as the Initial Coin Offering had the currency raise around 700 million dollars by the time Q4 arrived, 4 years later, Ripple is the third largest currency with over 18 billion dollars in market capitalization, also in the fourth quarter.
Ripple as a company, unlike not many of its peers in the crypto space, offers products inspired by and designed with the utilization of blockchain technology, with the final goal of creating fast and cost-effective alternative to the traditional swift systems that the world banks and financial institutions are rather using at the moment.
Even though Ripple Labs as a company is acquiring a separate growth without any financial link to XRP in the market, Ripple Labs will be promoting the adoption of XRP through the release of the most recently announced product for global remittance payments that xRapid should make up for.
Eventually, as stated by Brad Garlinghouse, “dozens of banks” will be using xRapid in the near future, while the product should be presented any week now as back at the beginning of September the team announced the release of xRapid “in a month or so”, deeming it expected somewhere in October or the beginning of November of the current year.
Based on the success that XRP had in the market while bouncing back up against the fiat after the announcement on the matter of releasing xRapid to be used by banks and financial institutions around the globe, Ripple has a fair set of chances of achieving greatness with the increased adoption of XRP, which represents an open-source asset made to act as a medium within value transfers.
In the next and the last part of the series, we will be discussing in depth on the solid potentials of Ripple becoming the next Apple Inc in the crypto space.