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Ripple News: XRP Price Keeps Falling, Why?

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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.

Image courtesy of Tumisu/Pixabay

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Property Loans for Foreigners in Singapore That You Must Know About

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property loans for foreigners in Singapore
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Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
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CoinField Launches Sologenic Initial Exchange Offering

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Sologenic
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CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited…

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Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page

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Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.

Performance

The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone,…

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