Ripple news of product launch expected to increase the XRP price.
After the recent Ripple news announced that new products are about to be launched, XRP experienced quite a price surge. Furthermore, the surge was also driven by Ripple’s new partnership with American banking giant, PNC. The increase was so big that Ripple even managed to briefly replace Ethereum (ETH) as the second largest coin by market cap.
However, a correction followed soon after the price surge, and Ripple returned to its third rank on CoinMarketCap’s list. Even so, the new bull run was quite motivating ever since, and many expected XRP price to skyrocket once again after the products are actually launched.
The most notable one of Ripple’s product is xRapid, which was promised to numerous banks and financial institutions. The product is a marvel of Ripple’s technology, and it allows nearly instant cross-border transactions. Many believe that products like xRapid, and its predecessor xCurrent, are one of the main reasons why so many banks around the world have entered into a partnership with Ripple in the first place.
However, a real surprise came after xRapid was actually launched. XRP enthusiasts expected the next Ripple news to announce a new bull run. This is why they were left confused after XRP price declined by as much as 16%, instead of rising to potentially new heights.
The 16% price drop came during the first week after xRapid was launched, and the signs of a bearish trend remained constant ever since.
Why did XRP lose value despite xRapid launch?
Despite the fact that XRP price dropped significantly after the launch of xRapid, there is seemingly no real reason for this kind of reaction. This is why so many investors have remained confused by the new development.
However, if we dig a bit deeper, some hints as to why this has happened, begin to form. The first thing to note is that XRP price did not experience a surge due to the number of banks that Ripple has allied itself with. While the number of financial institutions willing to partner up with XRP is indeed impressive, the real motivating factor lies in the status of these partners.
However, despite their high status and excellent reputations, many of these banks have yet to actually adopt xRapid. Additionally, Ripple has recently held the Swell conference which has had several notable speakers who supported the project. The most notable of them, of course, was the former US President, Bill Clinton.
While this might seem like a big motivator at first, many agree that the former president’s speech was not convincing and motivated enough. The aim of the speech was to represent cryptocurrencies as the future of the financial sector. However, while he did address the use of cryptocurrency, he did not say much regarding its future as primary means of making transactions.
According to experts, this might be one of the larger reasons why many have lost faith in the new system, despite the fact that it is slowly getting implemented by the banks.
Still, optimistic XRP investors believe that this Ripple news is only a temporary setback and that the project’s success will come in due time. After all, the rate of Ripple adoption is rising, and the number of partnerships follows. More and more banks are choosing to turn to Ripple, and many believe that the market will allow the coin to rise once again sooner or later.
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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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FOTON Bank Is Launching An All-in-One Crypto Banking Service to Process up to 500 Transactions per Second
The decentralized FOTON project is launching its next-generation crypto-bank ecosystem to stimulate and facilitate the use of cryptocurrency payments worldwide, as stated in the official press release published by the company.
The statement issued by the FOTON project on December 3, referred to the launch of a decentralized crypto-bank designed for multi-currency transactions featuring a built-in fiat and cryptocurrency exchange system and instant contactless payments for goods and services worldwide. The system is intended to become a stable and flexible ecosystem that will enhance scalability for services related to financial assets, exchange solutions, cards, accounting, and business/customer services.
The technology being employed in the design of the ecosystem was specifically created to tackle some of the most critical issues facing the modern banking system, as well as the widespread adoption and application of cryptocurrencies in routine business transactions. The issues the FOTON project’s ecosystem seeks to solve include overregulation, bureaucracy, centralization, system faults, volatility, legal constraints and complications related to practical use.
“We are creating the ecosystem that will prove to be the impetus and basis the crypto market needs to make the effective transition to becoming the next global banking system,” as stated by Andrey Pashkevich, CEO and Co-founder of FOTON.
“The time to buy is when there’s blood on the streets” – Baron Rothschild
You have probably heard these stories, but let me explain why they are as important today as they were 100 years ago when first spoken. Not only that, it is just as relevant today. A bit of a background first.
Napoleon was at war with England. The Battle of Waterloo, it was England’s last chance to save itself, and remain as England. Baron Rothschild was standing at his post in the London stock exchange. If England wins, the market will rally, if Napoleon wins, it will go to shit. Baron Rothschild sends his private messenger to Waterloo and demands that he return to him and report who won the war.
His messenger does so and makes it in time before the public knows anything. England had won the Battle of Waterloo. At his stand on the exchange, what does Barron do? You would think buy up stocks right? Nope, Baron starts to sell, at first slowly, and then faster. The other brokers on the floor watch what Rothschild is doing and think “Baron knows something, we lost, start selling”. Now, the brokers on the exchange begin selling in a frenzy. In the midst of all this, Baron begins placing buy orders at the bottom of the market through other brokers who do not know…
Crypto Users’ Search For a Good Bitcoin Blender Stops With Bestmixer.IO
At first glance, it might seem easy to find a good bitcoin blender that guarantees your anonymity and is secure. There are after all a number of big bitcoin mixers on the market, so how different can their services really be?
If that’s what you’re thinking, beware. All bitcoin blenders claim to have anonymous transactions – that is after all the main reason why anyone would want to use these services. This claim was however always difficult to test. How does one go about to check if these promises are indeed true?
This was the case until BestMixer.io appeared on the scene. Unlike previous bitcoin anonymization services, BestMixer.io features complete, verifiable anonymization for bitcoin. Releasing a utility named the Coin Anonymization Event (CAE) check, BestMixer.io not only proved that their bitcoin transactions could not be traced, but also showed that those of their competition could be. With this bold move, BestMixer.io not only demonstrated that they are a good bitcoin blender, but one could argue that they are the best. Even though those services that were exposed as not being anonymous have in the meantime changed their systems to prevent the CAE-check from revealing transaction detail, would you really be happy to trust them again?
BestMixer.io mixes not only Bitcoin, but also other leading cryptocurrencies including Bitcoin cash, Ethereum, Litecoin and Bitcoin SV.
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