In the world of virtual currencies, Ripple (XRP) can now be considered as the most valuable digital asset after Bitcoin (yes Ethereum still at the number two but its position seems to be in severe danger). At the start of 2018, its market cap hit more than 100 billion US dollars.
After a tight bear hug for a while, over the last few weeks, Ripple’s XRP prices have blown out by almost 300% showing no signs of slowing down (except today, it’s down a bit alongside whole cryptocurrency market).
Due to its working relationship and partnership with large institutions in the financial sector, Ripple has managed to blow past other cryptocurrencies rivaling its progress in the digital currency space. Ripple as a cryptocurrency (XRP) and as a blockchain technology has an aura of legitimacy attributed to its working relationship with large organizations and businesses around the world.
Ripple’s Consistent Growth
When you look at the number of companies, and financial institutions Ripple has managed to onboard to use its protocol, you will notice that the client portfolio is consistently rising. And with the rise in its client portfolio and its popularity, you will agree that the use of Ripple is continually on the rise as well. The constant surge of Ripple’s blockchain and use is one of the main reasons why the virtual currency has the potential to increase significantly in 2019.
According to Ripple CEO and leader, Brad Garlinghouse, Ripple’s real application in the cryptocurrency space and blockchain technology positions the company on a vantage point. Trying to create a platform of globalized payment systems, Ripple is working round the clock to ensure financial institutions and businesses can transfer settlements globally at near instant speeds.
Currently, Ripple has signed partnership agreements with over 500 different institutions that include prestigious financial institutions like Saudi Central Bank, Banco Santander, and Bank of England. According to Brad, since there is a real application of Ripple as a currency and as a blockchain technology, Ripple will be able to sustain in the longer term. Garlinghouse says,
“Ripple will not be a victim of the ongoing cryptocurrency craze thanks to its real application, the price valuation of the digital asset will sustain”
Ripple: The Second Most Significant Virtual Currency After Bitcoin
Most of the cryptocurrency analysts agree that Ripple will not only be able to record new highs and create new peaks, but it is also a good investment opportunity. There is room for improvement in the crypto space with the current market capitalization being as it is.
Staying true to its mission, Ripple is consistently onboarding marquee name clients from every part of the world to its already bulge client portfolio. Additionally, many banks and financial institutions are using Ripple’s technology to transfer money from one part of the world to another.
That is why we are all in agreement that Ripple’s XRP is a pretty undervalued currency currently and in the coming future, we expect Ripple to increase its market capitalization and value greatly as it continues to add newer and newer clients to its platform.
XRP to Act as Collateral in Nexo, Crypto Loan Platform
Last week, virtual currency loan provider, Nexo, announced its decision to add XRP as its latest collateral option for the platform’s quick crypto loans. Nexo users with XRP balances will now be able to take loans against their digital assets instantaneously.
Nexo is renowned globally, providing its services to its clients in over 40 fiat currencies pushing the boundaries within the cryptocurrency lending sphere by becoming the first lending company to accept XRP as collateral.
Instant Transfer Crypto Exchange, Changelly Adds support for XRP
Also, just recently, Changelly, an instant-settlement crypto exchange, made it public their decision to open their doors to exchange fiat currencies for XRP coins on the company’s platform. Through their marketing department, Changelly said that they allow their users to purchase selected virtual currencies with credit and debit cards. This is to mean, Changelly users can now buy Ripple’s XRP tokens in a matter of a few minutes with a couple of clicks.
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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 PublicDomainPictures/Pixabay
Why Blockchain Projects Keep Failing
If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.
So, What’s the Problem?
For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.
What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.
Project Success Starts at the Team Level
The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.
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STEEMIT Running Out Of STEAM?
Has Steemit seen its glory days run dry? There have been many rumors that the CEO Ned Scott has pushed the company to the blockchain focus that he forgot about Steem being a social media platform. Now, these are just things some of the former employees have been heard saying, but it is a rather interesting take as to what is going on. Give the following video a watch where I break down what is happening with Steem. I also give my thoughts on what may happen to other large ICOs and how we may see this trend continue as we have seen with ConsenSys laying off 10% of their workforce.
If the big name projects are starting to do this will it also have a trickle-down effect on other ICO’s which have no products and are running out of cash? I definitely think so, and I also see this negatively affecting Ethereum for the mid-term. The question many have been asking is just how long can the bottom 1800 projects last with the current market conditions? How many ICOs did not liquidate their Ethereum and now are stuck with 1/10th the cash flow or more in some cases, how will they pay to continue operations? What about the growing number of projects laying off employees like…
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In this bear market, everybody’s asking the same questions. Why is Bitcoin falling? When will the market turn around? Is this the end of the crypto boom?
However, before we can answer questions like these, we need to step back and do an honest appraisal of where our industry stands and what is really holding it back. Despite its growing popularity, cryptocurrency still struggles to gain mainstream appeal. While crypto has managed to distance itself from the early days, when it was used to buy illegal goods online, the currency still conjures up negative feelings for a lot of people unfamiliar with the technology — and all too often, for good reasons.
Cryptocurrency is still relatively new, which means that many casual users are still exploring different ways to use crypto in their day-to-day lives. Unfortunately, this lack of knowledge leaves a lot of users vulnerable to scammers seeking to take advantage of their ignorance and inexperience.
We’ve contacted various types of people within the crypto community, surveying newbies, traders, investors, and professionals, asking what the biggest problems in crypto are. We found there to be three major problems holding the industry back:
Who hasn’t been scammed at least once?
The crypto community is overrun with scammers taking advantage of inexperienced and naive users. What’s more, scams don’t only occur on an individual level.…
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