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Why all the Ripple partnerships make XRP more valuable

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XRP

If you ask a bunch of market technical analysis experts what matters most, you’re sure to get a single answer from all of them: the price. Of a commodity, an asset, a currency, a stock, you name it. That applies to most of the Ripple’s XRP enthusiasts and any other cryptocurrency trader, too. Price is king because that’s how traders make money, by watching the price in a market go up and down, identify trends, buying at the right time and selling at the right time as well. Timing would be the second most important thing. That’s the game in technical analysis.

But any expert worth his or her salt will also tell you this: price and value are different things. If you want to make money by following prices, then the technical analysis is for you. If you want to make money by assessing value, then there’s another discipline called “fundamental analysis” that will help you.

Fortunes have been made using both tools, separately or in tandem. Take Warren Buffet. He’s made a fortune by identifying a value that’s underpriced, buying it and waiting until the market realizes its error and rectifies it, thus driving prices up.

Why are we telling you all this? Well, basically because Ripple’s XRP is very cheap now ($0.3493 as we write) but also because it’s valuable. A fundamental analysis published a couple of weeks ago estimated XRP’s real value to be of around $1.7 USD, which is five times its current price. How is that possible?

It all comes down to usefulness. XRP is useful. Maybe not to you or me directly (though that is changing quickly) but for banks all around the world, remittance services, and other financial institutions. Because it is so useful, it’s bound to be adopted massively and to be demanded in high volumes.

Ripple’s goal has been to create blockchain-based software and technologies that can eliminate all or most of the friction inherent in settling international payments. That’s been its mission for years, and its persuaded many among the largest banks in the world to jump in the wagon. With Ripple’s way of doing things, the banks don’t need to hold foreign currencies to transfer money across borders.

What they do is to use Ripple’s ledger, use their local currency to buy XRP, send those XRP to the bank on the other side of the transfer. That bank then exchanges the XRP tokens for its local currency and thus the deal is done. The whole process takes fewer than five minutes and the fee is of fractions of a cent.

If you’re used to buying goods on Amazon, or elsewhere on the internet that’s not too impressive, because online payments are usually very quick. But if you have ever needed to wire money abroad you’ll know that the process is quite painful.

It needs a lot of red tapes, it takes at least three days to be settled and is very expensive (usually 25 USD flat per transfer or a percentage of the quantity sent), and it’s not as reliable as it should be. That’s why remittance services such as Western Union or Moneygram have been so successful (and they are also either using or piloting programs to use XRP).

So now you know. XRP maybe cheap yet. But it’s valuable, and the market more likely will pick up before you know it.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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