Launched in 2012 as a currency exchange, remittance network, and a real-time gross settlement system (RTGS), Ripple (XRP) also known as Ripple protocol or Ripple Transaction Protocol (RTXP) is based on a shared and public ledger or database. Many financial institutions broadly adopt XRP, payment networks broadly used by many respected firms such as UBS, Santander, and Unicredit. Ripple undoubtedly has some advantages over other significant virtual currencies like bitcoin.
It is true that this cross-border payment system is one of the most popular digital currencies in the realm of virtual currencies. One of the main advantages of Ripple (XRP) is that it does not have common drawbacks such as high transaction rates and long transaction times. However, although having great benefits, the market environment at the moment has been and continue to value the price of Ripple way too low.
According to evaluations made by cryptocurrency market experts, the future of this precious digital coin is quite bright in the coming years. But the question stands when we will start seeing Ripple’s XRP prices to surge?
Ripple (XRP) in the remaining months of 2018
Many wonder the course Ripple (XRP) is going to take in the remaining months of this year. Ripple is still the third most significant virtual currency by market capitalization. While those near the cryptocurrency blockchain shower praise for all that is done to make Ripple (XRP) significant for real-life uses, there are some who are still looking for answers.
For example, many users are still not sure of the role and relevance of Ripple Labs in XRP’s performance. Also, we didn’t know the verdict of the court case that was being investigated whether Ripple (XRP) is a security or not just a couple of days ago. We know now though, and it’s that Ripple (XRP) is not a security. Great.
With that said, Ripple could witness drastic positive price change in 2018 in spite of the negatives and the lingering questions (those are getting answered nicely on the way) attached to it. There is no doubt Ripple’s benefits outweigh the negatives, and this could be the reason why XRP prices would surge later in the year. Some of the reasons I believe might affect Ripple prices this year include:
- Easy access to Ripple. Ripple is everywhere as the digital coin is listed on several major exchanges, including Revolut, UK based cryptocurrency exchange.
- Ripple proposes to cure some of the financial sector’s most vexing problems that include high transaction fees and slow transaction speeds.
- Ripple keeps expanding its partnerships with the last one being announced a few weeks ago. On 26 May, Kuwait Finance House (and then just a couple of days later, National Bank of Kuwait) publicized that it had signed an agreement with Ripple to commence usage of RippleNet.
- Ripple seems to continually make the news headlines, announcing one project after another. A few months back, Ripple made public the Xpring initiative at this year’s Consensus. Additionally, Ripple’s xRapid continues to shine, making massive advancements in the financial sector.
Ripple continues to have enormous influence on the global virtual currency market. With its recent development and partnership in a market where market segment determines volatility, its recent progress would only further improve its value.
Although it is hard to pinpoint a specific date when Ripple’s prices are going to surge, but looking at partnerships like Santander deal, a consortium of 60 Asian banks who are looking into the possibility of developing an application based on Ripple’s technology, and several financial institutions worldwide, we can only say that the near future of this digital coin looks very promising. There are over 1600 virtual currencies in existence today, but there is no doubt that Ripple is one of the coins leading the pack. So, its prices are more likely to surge soon, the rise might not occur in a rush – but it will.
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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.
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Blockchain-Focused ETF Arrives on London Stock Exchange
The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.
While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.
The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.
Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…
Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?
Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.
However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.
Bitcoin as a divorce tool?
In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.
However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…
Three Biggest Things To Know Come Cryptocurrency Tax Season
In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.
These three tips should help anyone looking to legally report their crypto activity to figure out where to start.
Documentation is key!
There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting. Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.
Calculate your total gains…
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