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How is Q2 of 2018 going to Change Ripple (XRP) Future?

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Ripple
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Ripple is unarguably one of the most stable cryptocurrencies as well as the most popular altcoins that currently exist in the cryptocurrency market. The first quarter of this year has been rough to several cryptocurrencies, preponderantly due to severe fluctuation in Bitcoin’s price in January. Bitcoin, being the most popular and influential cryptocurrency till date, maneuvers the individual price and market capitalization of a significant number of altcoins. Therefore, with Bitcoin’s turmoil, nearly the entire crypto-market suffered from drastic losses and volatility. Fortunately enough, Ripple is one of those currencies that is completely independent of Bitcoin’s influence and is capable of showing stability amidst the market mayhem.

The principal characteristics that are behind this currency’s massive popularity among users are its significantly lower transaction fee, faster transaction system, and a very transparent blockchain platform that offers all the necessary information to their traders in an unadulterated manner thereby providing the investors to make the right call during trading. Hence, it is no surprise that Ripple would publish an extensive update about their current position after Quarter1 (Q1) and their plans for Q2. On 25th April, the Q1 report was published by Ripple’s team. Here, you would find out some important facts from the Q1 report along with their plans for Q2 and how these new updates are going to change Ripple’s future.

Ripple’s Q1 Report at a Glance:

a. Quarterly Sales Amount: Despite the severe unrest all over the cryptocurrency market, Ripple has managed to hold its usual position during the first quarter with some sporadic slipups. According to their report, an amount of 16.6 million USD worth XRP was directly purchased by the market participants during this quarter. Moreover, the Ripple team was able to sell $151.1 million worth Ripple coins as a small percentage of their overall exchange volume.

b. Escrow Account: During this period, Ripple was released from an online escrow account which is cryptographically secured. Nearly 3 billion XRP was released from this account among which 2.7 billion was put back into new accounts and the remaining 300 million were used in various ways to ameliorate Ripple’s ecosystem.

c. Market Share: Where most of the cryptocurrencies struggled with keeping their market capitalization stable, Ripple doubled their share of market cap from 3.56 % to 7.57% during this period. This trend began by the end of 2017. Moreover, XRP’s overall market volume grew considerably during Q1 from 5.3% to 6.9%.

d. New xRapid Customers: Ripple’s development team announced five new pilot customers during this period including Western Union, MercuryFX, IDT, MoneyGram, and Cambridge Global Payments. These pilot customers have been proved extremely effective so far in lowering liquidity cost and increasing transaction speed.

Besides these four major events, there were significant changes in Ripple’s price index due to various global events during quarter 1.

Awaiting Events for Ripple in Q2:

Since the beginning of Q2, Ripple’s development has been terribly busy in implementing new features and commencing new lucrative partnerships. A few weeks ago, Ripple got engaged in a collaborative partnership with the blockchain consortium in order to provide a significant advantage to the developers. According to their current roadmap, these three months are going to be very eventful for this coin. Some of the major events that have happened so far in Q2 or about to happen include:

  1. Major Partnerships: Due to XRP’s smart payment solutions, new companies are making effort to engage in lucrative partnerships with this currency. At the moment, the names of five major companies including FairFx, RationalFX, UniPay, 4Free, and MoneyMatch have already been announced by Ripple’s team. Once these partnerships take place, Ripple’s xVia, which is already very popular for providing lightning fast cross-border transaction, is likely to become even more efficient and quicker as well.
  2. Adulation from MercuryFX: MercuryFX is considered one of the most reliable global currency specialists in the market. After the implementation of xVia in Ripple, Ripple has been offering a flawless and inexpensive transaction system along with a low liquidity cost. Very recently, which happens to be in the second quarter of the financial year, MercuryFX praised Ripple by mentioning it a “first-class” liquidity solution and transaction facility to the traders. This will invariably affect several crypto-traders and compel them to opt for this currency.
  3. Blockchain Week in New York: Ripple to organize a VIP meet-up event in New York shortly named as the Blockchain Week. A significant number of developers, educators, exchanges, crypto-connoisseurs, and traders are going to take part in this event. By being the host of this meet-up Ripple is likely to grab the attention of several investors, global organizations, and cryptocurrency exchanges. However, this meet-up is a private event, 10 tickets were offered to the twitter account holders to encourage active participation.

Current Scenario of Ripple:

Ripple currently holds the third position on Coinmarketcap with a market capitalization of nearly 33 billion USD and individual coin price of approximately $0.84 (as of 30th April 2018). The announcement of the recent partnerships and events has been able to produce a steady upward trend in its price chart.

Final Thoughts:

Ripple has always been preferred by a group of traders because of its risk-free and stable nature. With the new partnerships and globally renowned organizations as their customers, Ripple’s blockchain system is likely to provide even more efficient and flawless transaction system to their holders. If the Q1 and Q2 are just mere indications for what the future holds for this coin, current XRP holders can surely be hopeful.

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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 Maxamillion Sterling via Flickr

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We know what the Institutions are saying, but what are they doing?

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Many of us hear that institutions are buying tons of BTC, XRP, and other top 20 cryptocurrencies.  The thing is how much truth really is there to that when we cannot even see the market moving in any direction other than on a downtrend. Right now, many do not know this but there is the OTC or the over the counter exchanges that exist. These exchanges like OTC trading desks do the trades off the market hense over the counter. This means that it functions in the same way the black market functions as when you sell these items it is essentially off the books so to speak.

Why does all this matter? Have any of you seen this VIDEO with Tekka Tiwari. Here he explains what I love to say as listening with your eyes. He goes on to show how Wall Street legally manipulates the market, they throw out in the media and go into the limelight and bash the said stocks, or bitcoin. The result is that of them falling drastically as many panic sell the asset. While everyone is selling off tons of their assets when it gets close to the bottom, similar to where cryptocurrency is currently they buy it in droves. He explains how this is exactly what happened in the…

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Why Is Coinbase Stalling With XRP?

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For a cryptocurrency project, getting their coin to Coinbase is one of their biggest goals. However, the popular exchange has become infamous over the years for only accepting a handful of top-ranking coins, while other ones were deemed unsafe for listing for various reasons. In the first half of 2018, however, Coinbase decided to distance itself from this old way of looking at things, and it has even announced that it will look into numerous altcoins, in order to locate and list the best among them.

Since then, the exchange has kept its word, and while it did not add dozens of new coins, they still did open up to a few projects, such as 0x and even Zcash.

However, for all this time, there was no mention of XRP, a cryptocurrency formerly known as Ripple, which is currently the second largest coin by market cap. Despite high demand, constant requests, and alike — Coinbase did not even consider adding XRP.

That is, until several days ago, when numerous reports of Coinbase considering another group of altcoins emerged. While the XRP community was very excited to see XRP listed as a candidate for a potential listing, many believe that it is still not going to happen.

Why Coinbase doesn’t want to add XRP?

As mentioned, the XRP community has been asking for the addition of XRP for…

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Why 2019 Will Be A Big Year For Crypto

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crypto
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As 2018 is getting close to its end, a lot of crypto investors are turning their gaze towards the future. Considering the crypto bearish trend that has dominated this entire year, not to mention two big market crashes, it is of no surprise that everyone is more than ready to leave these harsh events behind.

However, a few questions still remain unanswered — what to expect in 2019? Is the situation going to change, or will there be just more of the same? Is investing now, when the prices are low, a good idea? These are the issues on every investor’s mind right now.

What to expect in 2019 in terms of crypto value?

Understandably, after a year such as 2018, expectations of the future are quite high. The crypto scene is still in its infancy, as many analysts have stated numerous times. Add a few more issues, such as regulatory uncertainty, mistrust coming from institutional investors, and constant hacks, scams, and theft that have been a significant factor in this and previous years, and it’s no wonder that the market keeps crashing.

However, there is more to it than that. Due to high volatility and no real control over cryptocurrencies, a massive bull run of 2017 brought cryptos to heights that were not supposed to be reached that early. Because of that, some analysts claim that, what…

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