Ripple is the third largest cryptocurrency and one of the most meritorious investments whose market capitalization hit $122 billion USD in January. This incredible bull run crowned Ripple co-founder Chris Larsen as the 8th wealthiest man on earth. The Ripple team has shown their inclination towards payment systems and are still working on revolutionizing Ripple’s unique features and products. Ripple has been delivering their promises since the very beginning of its partnerships in Silicon Valley. Its popularity, increasing adoption, and its smart and consistent development team are some of the reasons why investors find it a promising investment.
Aim for Ripple
Ripple has a simple goal of becoming the most preferred payment solution. Current banking systems are slow, have limited transparency and expensive and hence, cannot function as a global payment system. But Ripple has every feature required to be an ideal global payment system. The idea is to reduce entry barriers and enable a better global payment system which is known for its wide-scale activity.
Features and products
The name of the global payment system created by Ripple is called RippleNet. Its function is to create a global network of banks using which anyone can send or receive payment by the help of Ripple technology. The RippleNet will soon have real-time messaging, gross settlement (means sending funds or securities between two banks) certainty for all transactions made and clearing. In order for it to work, Ripple has been forming a partnership with several banks so that the users around the world can interact with the bank with the help of the RippleNet enabled bank.
RippleNet has three more products which are as follows:
- xCurrent: Payment Processing
It enables payment processing between banks while increasing its speed, transparency, and efficiency.
- xRapid: Liquidity Source
xRapid can be thought of as a pool of funds that banks can access in order to transfer funds easily without having to pair up transactions.
- Xvia: Global Payment transaction system
This is a web services layer that allows corporates the ability to safely make real-time payments with rich data attachments.
Ripple and Banking
Banking clients of Ripple are their strongest proposition. They didn’t just come up with a revolutionary idea, but the Ripple team has literally shown how it’s done. Being a two-sided company, which needs supply as well as demands, the execution of their idea, was complex ‘supply’ in case of Ripple are the banks and ‘demand’ are the users or businesses. Ripple first fulfilled their supply side and kept adding one bank after another which resulted in an increased number of customers. The list of banks that are now with Ripple is growing each day. AK Bank, Axis Bank, UBS, SBI Remittance, Mizuho, Standard Chartered and newly added Santander are just a few of the influential partnerships formed by Ripple throughout Q1 of 2018. This is one of the major reasons behind Ripple’s high price point and growing community of believers.
Rumors surrounding Ripple and Apple Pay
One of the best rumors surrounding Ripple at present is pairing up with ApplePay. There are indications that Apple has decided on implementing Ripple’s interledger protocol into ApplePay. Being one of the greatest technology corporate in the world, if this rumor turns out to be based on reality then it could take Ripple to the moon in the blink of an eye. Since Ripple tech enables faster and more secure transactions which is the most sought-after feature for each payment system that exists in this world. If this collaboration happens then soon all Mac users, as well as iPhone users will be able to use it. This collaboration would also mean that Apple pay will soon decide to accept cryptocurrencies as payments which would give not only Ripple a nudge, but all cryptos will enjoy the Bull run caused by it.
Ripple Listing on SBI Virtual Currencies
The cryptocurrency exchange of the Japanese company, that provides financial services, known as ‘SBI Holdings’ made an announcement on 11th April. They announced the launch of an exclusive listing of Ripple (XRP) during the launch period of the platform. The beta launch began on January 30th. This exchange was created in order to align the process of trading for cryptocurrency for individual traders as well as institutional customers which are based in Japan. Mr Yoshitaka Kitano, the most respectful figures in Japan and the world of banking, who represent the head of the consortium of around 60 different banking institutions and the CEO of SBI Holdings tweeted about his belief in Ripple and the technology behind it and predicted that it’ll soon reach close to $10 USD by the end of this year. Now Ripple has become their choice as a safe alternative for executing high-level overseas operations and broke their previous partnership with Huobi.
Although Ripple is still on the way towards bringing a definite change in the banking and payment systems all around the world, this blockchain project will always be regarded as one of the best performers of all time. With the original idea, a smart business strategy and loads of accomplishments have put a Ripple in the place of third cryptocurrency giant. At the time of writing, the price per unit is close to $0.88 standing with a market capitalization of $34 Billion. Around $722 million worth XRP has exchanged hands within the last 24 hours. There are indications of a bullish week ahead of Ripple as it keeps hitting headlines and proving to be a true game changer.
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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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Reasons Why 2019 May Be A Great Year For Crypto
The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.
The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.
With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.
1) Bearish market to loosen its grip
The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
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