Considering that Facebook's Libra will be an extremely centralized cryptocurrency, it might very well be adopted by financial institutions within the mainstream world. Ripple's XRP also has the same purpose where it could drive mainstream payments in a fast and cheap way, backed by many Banks worldwide. While both Libra and XRP have their similarities (in terms of centralization) they're certainly different by design.
If Libra's launch becomes a success, then XRP's existence may be threatened over the long term. Both cryptocurrencies would battle head-to-head in order to become the top choice of Banks worldwide. Comparing Libra vs XRP, Ripple has all the possibilities of taking the lead because of the many partnerships it has established with Banks worldwide.
Which is why, it makes me wonder whenever Libra will become the currency of the world or XRP? Or will they co-exist in the future?
Libra and XRP have almost the same concept which believe Libra will take the crown from XRP due to level of support and the concept put together. If Libra's launch becomes a success, then XRP's existence may be threatened over the long term. Both cryptocurrencies would battle head-to-head in order to become the top choice of Banks worldwide. Comparing Libra vs XRP, Ripple has all the possibilities of taking the lead because of the many partnerships it has established with Banks worldwide.
Which is why, it makes me wonder whenever Libra will become the currency of the world or XRP? Or will they co-exist in the future?
We still don't know for sure if the coin will be create, cause I learn that some governments are against the implementation of the coin because it will be pegged to some national currencies and the project features was believed by some governments official to cause obsolete of national currency which Libra will be pegged cause people may prefer to use Libra rather than fiat.