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Stellar-backed IBM project in a wiry rivalry with Ripple

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The concept of money transfer seems to be on a U-turn as blockchain technology sets to change the way cross-border payments get done. In this sense, Ripple is at the frontier of evolving money transfer and remittances, and it is now facing intense competition with a Stellar-backed venture by IBM.

It is necessary to know that IBM is almost trying to get the attention away from Ripple and lead the race to change the face of cross-border payments in the world.

At the moment, we now have SWIFT, Ripple, and IBM in the realm of cross-border payments. Nonetheless, SWIFT is still the most significant payment mean in the world, because it has more than 200+ countries registered on its network.

Also, SWIFT records more than a trillion daily volume on its transaction. Due to this fact, Ripple is garnering towards to mass adoption and getting a large percentage of SWIFT’s business.

At the moment, it has almost gotten about 50% of India’s payment means, with India’s biggest bank included. Also, it’s now the primary network for SMEs and the unbanked, thus, providing a faster and cheaper means for them.

Even though Ripple appears to be offering great services when it comes to cross-border payments, Stellar and the Stellar-backed project by IBM look all set to be competing with Ripple full-time.

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Based on statements by IBM, its DLT-powered payment system seems to put more weight on Ripple to increase its reach, and increase the adoption rate to become relevant in the cross-border realm.

Our convening power brings together incumbent and FinTechs, ensuring collaborative innovation with data security, compliance, and consumer focus,” reads IBM’s statement.

A part of its press release states:

It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”

On the IBM powered-solutions, the company has claimed it is managing about 60% of the world’s global transactions, and also offers BWW (Blockchain World Wire) which is a big launching pack, thrusting it to the World’s Financial Sector that is poised to increase by $2 trillion in the year 2020.

Just recently, IBM and Stellar revealed a proposal to create a transaction scheme for the South Pacific region with KlickEx. The recent news is seen as a new development for IBM.

IBM hasn’t stopped here as the company also announced the launch of Stronghold USD – a United States coin that runs on Stellar protocol.

Both Ripple and Stellar look alike as both assets offer the same services, but stellar is open-source, and it is not owned by anybody or persons, unlike Ripple (as the company is alleged to be the one who owns XRP tokens in mass quantity).

Nonetheless, the level of negative hype around Ripple is likely because it’s price is below what it used to be. At the time of writing, XRP is priced at $0.268 and in the red.

Nevertheless, XRP is still recognized globally, and it will continue to be a major company to foster cross-border payments to the world. At the moment, Ripple needs more creativity, plans, lots of adoption to be the leading solution and beat Stellar-IBM combo. Only the time will tell who wins.

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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.

Photo by CloudVisual on Unsplash

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Ripple XRP Mega Breakout: What’s Next?

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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Where will Tron (TRX) be when we land in the same month next year?

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The volatility of the crypto market has made it quite difficult to predict the outcome of what prices will become. To predict the prices of cryptocurrencies, various factors and characteristics are used to forecast whether a cryptocurrency will come up with a bull run.

The price of altcoins is significantly affected by the rise and fall in the Bitcoin price. In other words, if there is an increase in the price of BTC on a given day, there will be a high tendency for other altcoins to follow the same trend.

Concerning Tron, the market activity of Bitcoin has also affected the price of TRX lately. If that is the case, what will be the price of TRX before the year runs out and even next year? Well, we will be using various factors to predict the price of TRX in a year time or so (after seeing the recent market pickup).

The expected value of Tron TRX in a year or so now?

On a positive note, Tron has released lots of projects to aid and benefit its users worldwide, ever since the launch of its MainNet. Even recently, the blockchain announced another mega project known as Project Atlas. Despite the start of these projects, there hasn’t been a significant change in its price until recently. It is essential to know that even when these projects were getting launched, its price kept depreciating.

There aren’t any upcoming projects on…

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Litecoin Cash (LCC): The potential mover?

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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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