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Is Ripple (XRP) value on the edge to skyrocket now?
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.
Final Thoughts
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.
Image courtesy of Pxhere.com
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more. One of the ways to have a successful…
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
It’s important to make a distinction between blockchain technology and cryptocurrency. Although they are often used interchangeably, they are different. Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…
Altcoins
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has…
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