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Institutions Buying and Holding Ripple’s XRP Will Rise in Q3 this Year

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The team at Ripple have been doing a spectacular job at hosting ‘Ask Me Anything’ (AMA) conversations with their top execs. A few weeks back, the new CTO, David Schwartz, was interviewed by Asheesh Birla, the Senior VP of Product. In the interview, we got to find out Ripple’s plans with RippleNet, XRP, xRapid and more information about the company and the underlying technology. We also found out that banks are in fear of being disrupted by new technology.

In the AMA, David Schwartz was quoted as saying:

“I talked to a lot of banks, and one of the things that I learned from banks that I didn’t really fully appreciate is that they are in fear of being disrupted by new technologies.”

Brad’s Ask Me Anything Session With Cory Johnson

It is with this background that the team at Ripple have held another AMA. This time around, it was Cory Johnson (Chief Market Strategist) having a lively discussion with the firm’s CEO, Brad Garlinghouse. The duo covered a lot of topics, but one statement by Mr. Garlinghouse stood out.

In the statement, Brad Garlinghouse was answering Cory’s question about Wallstreet and institutional investors, talking about how they want to be more involved in the space as well as solving the issue of custody of digital assets. Brad’s response was as follows:

“One of the things I will tease for a future announcement within the Q3 market reports, which we always share…where we see institutional participation in buying XRP. Q3 will definitely be a record of institutional participation in buying and interest in holding XRP. “

The full AMA is now available on YouTube at the link below.

Another thing worth noting is that Brad had thought 2018 would be the year for institutional participation, but it has taken a bit longer. His new prediction of institutional participation will be in late 2018 or 2019. Brad added:

“I thought 2018 we would as an overall industry see more aggressive institutional participation. It has taken a bit longer. Now I would predict that 2019…the railroad tracks are being laid…You are seeing very interesting companies getting started to solve the institutional custody problem. That sets us up nicely for about the back half of 2018 and also 2019.”

When asked by Cory whether crypto custody solutions for institutional investors will be set up by the ‘big boys’ of Wallstreet or startups, Brad would answer that:

“I think it will start with the [startups]. Often times the big boys react to what is happening with the startups and sometimes they acquire those to bring those capabilities in house. Even as you look at the digital asset exchanges…you’ve seen players globally..and now you are seeing something Bakkt and ICE diving in. Will they at some point partner or participate with other start up players? Probably.”

In summary, Brad Garlinghouse has shared his vision and hope for XRP being bought and held by institutional investors as early as Q3 of this year. He has also seen that his prediction of 2018 where institutional investors dive in will have to wait till the end of the year or early next year.

With Bakkt in the pipeline, the stage is set for possible collaboration between Wallstreet firms and crypto startups on a level that had not been seen until now. The AMA proves that XRP is a good digital asset to consider in an investment portfolio moving forward.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of The Roaming Platypus via Unsplash

Bitcoin

Why Bitcoin Price Remains Stable Before the Expected Hike

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The cryptocurrency rallied a few days back, but now, it has moved closer to 38.2% Fib level. Investors are enthusiastic that as it remains at this level for some time, and stabilize. The next move in Bitcoin price will take it to the 61.8% Fib level. This is when the hike in the price of the cryptocurrency will occur towards $4,200. However, after the surge in price, the upcoming weeks will see the Bitcoin falling swiftly to $3,000.

The truth is that if this move fails to occur, there may not be an improvement in the value of the digital currency. Also, this movement will enable the “bullish gartly pattern” we saw on the BTC/USD 4H chart to become a reality. Also, we are expecting that the Bitcoin price will decline the same way it has been recovering since early February.

Why this week’s closing price matters

Presently, Bitcoin price is still trading above what the intrinsic value is showing on larger time frames. However, we can see adequate room to accommodate short-term rallies. The price at which Bitcoin closes this week is very critical. It will be a clear indication as to how the digital currency will move in the coming weeks.

If Bitcoin closes at a price above $4,000, we are hopeful that the correction may come from early next week. On the other hand, any…

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Stanford Lecturer praises XRP over Bitcoin

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The world of cryptocurrencies continues to cause controversies even now, particularly when it comes to matters such as the superiority of one coin over others. According to recent reports, one student from Stanford University has stated that one of Stanford’s guest lecturers — Dr. Susan Athey — bashed the first and largest cryptocurrency, Bitcoin, while praising XRP.

Does guest lecturer go anti-Bitcoin?

In late February, Stanford’s student called Conner Brown came out publicly with a claim that Athey described Bitcoin’s network and protocol inaccurately, and that she also used the opportunity to make unfounded criticism. Athey, who also sits on Board of Directors at Ripple Labs — XRP’s parent company — supposedly also stated that XRP provides solutions to all issues mentioned in regards to Bitcoin.

According to Brown’s comments on the matter, the lecture in question took place over a month ago, and after attending it, he wrote an open letter to Standford, explaining the incident. In the letter, Brown claims that Athey inaccurately presented Bitcoin’s consensus protocol and overstated several issues, such as the threat of a 51% attack on the coins network, as well as Bitcoin’s mining centralization.

However, the main problem with the lecture, as Brown sees it, is the professor’s claims that XRP presents a solution to these problems.

The claims caused Dr. Athey to respond publicly via Twitter, stating…

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Bitcoin Chasing Green — First Positive Month Since July In Sight

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The crypto market has started seeing gains in mid-February, with Bitcoin (BTC) following the bullish trend as well. In fact, the largest coin was on its way of seeing the first positive month since July of the last year. Even though its price was struggling to permanently overcome the major resistance at $4,000, the coin kept trying, and as long as its price doesn’t drop below $3,414, this goal can still be achieved

The return of the bearish trend which briefly overtook the market on February 24th caused a lot of damage, although Bitcoin managed to remain above $3,800. Following the crash, BTC started seeing minor gains once again, indicating that the bears have withdrawn for now.

What does the future hold for BTC?

As mentioned, Bitcoin can only complete a positive month if its price remains above $3,500 until the end of February. At the time of writing, the price sits at $3,807 according to TradingView, with an increase of 0.58% in the last 24 hours. As things are right now, it is likely that BTC might succeed in doing this, as its price performed relatively well ever since January 11th, even though it remained between $3,300 and $3,700.

Chart courtesy of TradingView

The recently-emerging bullish trend took it beyond this, and while the price…

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