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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

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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