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Ripple receives the endorsement from the Royal Bank of Canada

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Ripple
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Ripple has always been identified more as a payment solution than as a cryptocurrency itself, and this is for sure one of the more widespread perceptions in the crypto world. As a matter of fact, the conception is not that far from reality considering the incredible efforts the company has made to fight in the remittance payment sector, an environment in which Ripple has managed to create the most solid relationships with many financial institutions from all around the world.

This time, the endorsement comes from nothing else than the RBC (Royal Bank of Canada), one of the most reputed financial institutions in the world.

The RBC gave a recent declaration in which speaks about the payment solutions Ripple has, and how do they think Ripple provides an outstanding service that may help the entire sector to reduce the costs and increase the effectiveness of cross-border payments as we know right now. Let’s discover all of the facts behind the declarations of the RBC!

Reducing costs, the primary attribute of Ripple solutions

The RBC recently declared that the remittance market has been ruled so far by traditional remittance firms such as Western Union, and bank entities from all around the world.

However, they said as well that it was remarkable how these solutions still have a lot of friction regarding transparency, costs, and effectiveness, and for them, that’s precisely where Ripple enters the picture to serve as a crucial piece of the puzzle.

It is to be acknowledged that the blockchain has brought new variables to the table that somehow are just new in the financial industry. We can talk like this about decentralization, incredibly high transparency in transactions processes, and of course, the most remarkable of them all, the elimination of the middleman as an essential part of a payment process.

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With relation to this, Ripple has gathered all of the attributes that the blockchain offers, and have merged it all in each one of the solutions that the company provides.

The RBC has stated Ripple offers one of the cheapest solutions when it comes to cross-border payments. The company said Ripple helps to reduce the costs of transactions, and not only that, but Ripple can also improve “transparency of Forex rates and fees, before the transaction is originated, and can reduce the cost per payment for financial institutions.”

In the detailed report that RBC published, the company highlights the importance of the open source Ripple has created, a P2P (peer to peer) decentralized protocol that is here to stay.

Ripple has joined forces with several bank institutions at the moment, and for that, they are offering xRapid, xCurrent, and their token XRP. The most important to mention in this sense is that Ripple provides its three solutions, and they give you the chance to select the one that suits better in accordance to your needs.

For instance, if what you’re looking for is to source liquidity, xRapid would be a perfect choice. The company said,

“banks can consolidate their liquidity into one XRP account instead of holding local currency in accounts around the world” and with this, they can “minimize the number of intermediaries.”

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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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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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Where will Tron (TRX) be when we land in the same month next year?

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Tron TRX
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The volatility of the crypto market has made it quite difficult to predict the outcome of what prices will become. To predict the prices of cryptocurrencies, various factors and characteristics are used to forecast whether a cryptocurrency will come up with a bull run.

The price of altcoins is significantly affected by the rise and fall in the Bitcoin price. In other words, if there is an increase in the price of BTC on a given day, there will be a high tendency for other altcoins to follow the same trend.

Concerning Tron, the market activity of Bitcoin has also affected the price of TRX lately. If that is the case, what will be the price of TRX before the year runs out and even next year? Well, we will be using various factors to predict the price of TRX in a year time or so (after seeing the recent market pickup).

The expected value of Tron TRX in a year or so now?

On a positive note, Tron has released lots of projects to aid and benefit its users worldwide, ever since the launch of its MainNet. Even recently, the blockchain announced another mega project known as Project Atlas. Despite the start of these projects, there hasn’t been a significant change in its price until recently. It is essential to know that even when these projects were getting launched, its price kept depreciating.

There aren’t any upcoming projects on…

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Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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