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Reasons Behind The Recent Ripple (XRP) Bull Run

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Ripple
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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.

Conclusion

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.

Image courtesy of Lee via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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