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Here’s How Ripple (XRP) Can Get To $100

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What a year Ripple (XRP) has had. At the end of the week last week, the coin rose more than 50%, to a record market capitalization of $85 billion. At the start of play on Tuesday, this has risen slightly higher to just shy of $96 billion (having briefly topped out above $100 billion over the weekend).

When you look back over the year, this translated to overarching gains of more than 35,000%. In contrast, bitcoin (BTC) and Ethereum (ETH) have risen just 1,400% and 9,000% respectively. While the latter two have dominated headlines in mainstream media, therefore, it’s Ripple that’s really been the runaway winner.

The question now, of course, is can things continue like this?

Well, here’s where things get a little complicated.

The thing is, there’s a degree of disconnect between XRP and Ripple, the company, and it’s platform Ripple Net. The latter is a platform created by Ripple that allows banks to transfer currency cross-border and between one another practically instantly and for a much lower fee than is currently required. To make a comparison to current fiat systems, it’s designed to essentially replace the SWIFT system.

XRP Daily Chart

XRP Daily Chart

It works great and it’s being taken on very quickly (mostly as part of pilot programs) by some of the biggest names in the financial world – Bank of America, RBC and UBS, as well as a consortium of big-name Japanese banks.

So that’s all good but it doesn’t guarantee that we will see a concurrent rise in price in XRP. For the banks using the Ripple Net platform, the only part of the transactions process that requires XRP is the fees associated with the network.

This means that XRP use and (by proxy) acquisition should increase as the platform becomes more mainstream but the XRP used for fees is relatively low, so it’s not going to be what drives this coin to $100, $500 and beyond.

That’s not to say it won’t get there, however.

The Ripple Net platform is designed to integrate seamlessly with XRP. So, while banks can essentially use any form of crypto to act as a bridge between two types of fiat on either side of a transaction, XRP is as good, if not better, than all of the alternatives.

What it looks like Ripple is doing right now is going at the banks with a sort of two-stage proposal. First, adopt the Ripple Net platform as the basis of your cross-border exchange transactions. Then, adopt XRP as the bridge currency that facilitates the transactions. If the banks are using the Ripple Net platform and they subsequently have to decide on a crypto token to serve as bridge, it makes sense for them to use XRP, but it’s not guaranteed. We know that banks aren’t always (if ever) sensible in the way they adopt and employ technological advance.

So, that’s where the speculative element of a position in XRP is rooted. If the company can persuade the banks to use XRP as a bridge, we could be looking at $100 or more before the end of the year, perhaps sooner.

If not, we’re still going to see an increase in price (as banks buy up XRP to meet transaction fees on their cross-border payments), but it may be a little tamer than would otherwise be the case if banks go all in on Ripple Net platform and the underlying XRP bridge.

Bottom line – there’s still plenty of run room left here, the only question is how far things can run and how soon it happens. And this question is to be decided by the big banks.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency

 


Image courtesy of Ripple.

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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