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What is the ‘driving force’ of Ripple (XRP) community?

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The stronghold of major cryptos in the market today is the community that supports it and not the developers. A cryptocurrency community determines how far a crypto will go. The community is usually established by firmly devoted people, perhaps because their money and investments are on it.

Ripple community is such a community that is zealous and ardent in which they hope to see the cryptocurrency achieve great strides. On the other hand, Ripple XRP is a cryptocurrency that is growing, and it is a transactional protocol designed on a distributed ledger network, which needs its users to take part in authorizing transactions than any particular centralized authority.

Ripple’s primary currency is XRP, and this cryptocurrency is a service that aims to give solutions to real-life problems such as blockchain solutions. Even though Ripple is a centralized platform that gives answers to issues such as daily transactions and other real-life actions, the driving force of Ripple community is the XRP, and not xCurrent, xRapid, or xVia.

The list of benefits of Ripple is massive, and lately, the platform expressed its passion for changing foreign payments experience for Small and Medium-scale Enterprises (SMEs). During the Money 20/20 meeting in Europe, Colin O’Flaherty, Global Commercial Services’ General Manager in the UK and VP of American Express in Russia stated:

“Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds and that provides a real opportunity to alleviate most of the issues our customers are facing.”

Subsequently, Ripple’s technology has been adopted by Amazon’s marketplace and Apple store. Even with all the services it renders, it is eminent that what makes Ripple community progressing and ticking is due to the idea that SMEs are adopting XRP and solving real-life problems that people are facing when it comes to daily transactions. Besides that, the community hopes that XRP will become a global payment solution in the future. XRP is really valuable, and this is what drives Ripple community today.

The Prospects of XRP

Right now, most cryptocurrencies are in the red, and XRP is not an exception either. However, with that in mind, Ripple community does not only see the current trends in the crypto-sphere today.

It is important to note that most XRP holders anticipate essential XRP projects that are in-line for the next few months. Let the future be future for now, the acceptance of the protocol as the primary token for cross-border payments by Western Union, Money Gram, and Santander launch of mobile XRP is sure to make the cryptocurrency boom in the near future.

Other projects like the implementation of cobalt protocol (an algorithm that enhances transaction speed), a partnership with Hyperledger (which will help to accelerate the development of blockchain application), and with Santander bank will help Ripple to edge out other cryptocurrencies in the market.

With all these projects at hand, Ripple community is inevitable that there will be an improvement in the current situation of the cryptocurrency which may lead to XRP being listed on major exchanges soon. But nothing is certain in cryptosphere, so we’ll have to wait and see. And yes, until the SEC doesn’t give clearance to Ripple, the company’s praise will stay affected as a whole.

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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 Pixabay.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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