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Is XRP a security? No. Ripple Chief Marketing Officer speaks his mind

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Ripple XRP
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It is highly probable that you have the same dilemma everybody has been having these days, is Ripple a security? Well, much has been said regarding the fact that it has created a lot of concern among crypto enthusiasts and investors. In fact, at a certain level, Ripple (XRP) has been experiencing a little bit of friction because of this, and many asseverate that it actually can go further if rumors continue that the token will be classified as a security by the Securities and Exchange Commission (SEC).

Nevertheless, despite the big wave of comments still, nothing has been said that somehow clarifies the issue, and so it continues the tension among users. It is because of this that the Chief Marketing Officer of the crypto startup decided to put an end to the controversy. Let’s read through his explanations.

The key difference between Ripple and XRP

Most of the confusion that surrounds the issue centers in the fact that both Ripple and XRP are used indistinctly to refer to the same entity, but the truth is Ripple and XRP are actually different things, and so they should be treated (and mentioned) separately from the other. This said, let’s differentiate the two names.

Ripple is a company in charge of creating different technologies to provide solutions for the financial industry, more specifically, solution platforms for sending money across the globe. On the other hand, XRP is a digital asset that functions on an open ledger backed by blockchain technology. In fact, the company defines it as follows:

“Ripple is a software company that uses XRP and the XRP Ledger in its product, xRapid.”

Like this, the picture is a little clearer but what we can not forget is that one of the things that most of the people point when mentioning that XRP should be classified as a security is that Ripple owns at least 1 billion dollars in XRP, a fact that suggests that the token is somehow centralized. Nonetheless, the company has emphasized that the XRP ledger cannot be owned or controlled by a specific entity, and this includes any of the investors and Ripple Labs as well.

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Regarding this, the Chief Marketing Officer of the company stated:

“XRP is a digital asset that trades on its own that’s owned by lots of people in lots of places. We happen to own a lot of XRP – we own a lot of cash, chairs, and computers – but the company is called Ripple and we sell software.”

This distinction results very interesting, most of all because it gives us an amusing point of view regarding the recent accusations against Ripple and the way they “control” the cryptocurrency they own. However, as of now the only thing we can do is wait for the SEC to stand a position on the issue, which if it happens would involve the execution of the Howey test to determine the status of the crypto.

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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 Maxpixel.net

Altcoins

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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ZCash
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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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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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