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Ripple xRapid might push XRP price up now. But what about the long-term? - Global Coin Report
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Ripple xRapid might push XRP price up now. But what about the long-term?

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Ripple XRP
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It’s a great time for Ripple’s XRP holders. Recently, the token’s price doubled in fewer than four days, and much good news has bolstered the project’s and the token’s value. The main among that great news was the release of xRapid, a new platform that runs on Ripple’s blockchain, used XRP token, and is ready to go into production boasting already three crucial partners in the world’s banking system.

But does this prove that Ripple’s business model and long-term economics are robust enough to go for it, once and for all? That remains to be seen. In the meantime, XRP is expected to perform well in the short-term, and its recent achievements more likely will keep the price going up for some time, even among the current (and very protracted) bearish run.

As thing stand today, Ripple is giving Ethereum a run for its money by seriously competing for the second position in the cryptosphere. It’s not only getting closer, but it’s also held the second spot, briefly, twice over the last weeks.

Ripple is a very interesting project. It’s also controversial, so it’s often in the community’s news, but this year has seen more news about Ripple than any other, and the last few weeks have seen more news about it than the most of the year. What does that mean? Publicity has not been a problem for Ripple recently. Simple.

Some of Ripple’s publicity follows the company’s marketing campaign which has been very adept and could even rival Justin Sun’s amazing moves when he promotes Tron. Just think about the recent Swell conference (which is Ripple’s yearly reunion for partners and investors).

The keynote conference was given by former president Bill Clinton, who said basically nothing about cryptography, the blockchain or cryptocurrencies, but it was a master publicity stroke anyway.

Then, Brad Garlinghouse (Ripple’s CEO) announced the release of xRapid and the three first customers that are already confirmed to adopt it: MercuryFX, Cuallix, and Catalyst Corporate Federal Credit Union. Yes, these are not huge players in the financial world, but they have confirmed they will use xRapid to settle their international business. Ideal debut for the newcomer, xRapid.

All about Ripple xRapid

What is xRapid, I hear you ask? It’s Ripple’s newest platform to settle international payments, but with an extra. This is a solution that not only uses Ripple’s blockchain to settle accounts but also uses Ripple’s XRP currency as a mediating coin to pay those payments in any fiat (or crypto) currency in the world.

That is the point. The previous solutions designed and deployed by Ripple do the same trick but without using XRP, or, at least, not necessarily. It means that xRapid is going to boost the market demand for XRP because, unlike most other digital assets, it will become a useful token, much more similar to real money instead of having its value based in speculative pressure alone.

The arrival of xRapid, and other of Ripple’s projects, as well as Stellar’s and Litecoin’s efforts to bring cryptocurrencies and blockchain technology into the traditional financial system, mean that Satoshi’s dream is coming to life slowly but surely: cryptocurrencies are gradually taking over banks, fiat currencies, and the world’s financial system.

Ripple is collecting one success after another, and the price of the token is rising (yes not in green at the moment, but that’s because of current market trend). We cannot say that about many other blockchain projects that have disappeared or failed even after very successful ICOs. But is this enough to trust Ripple and XRP long-term?

As things stand, for the short-run, it’s just a matter of slight trend change in the market and XRP might rise. For the long run, yes, everything looks to be in place nicely, but only time will tell. That is the cryptocurrency market for you.

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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 Andreas160578/Pixabay

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Why Blockchain Projects Keep Failing

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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.

Unfortunately, this mentality isn’t just…

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STEEMIT Running Out Of STEAM?

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Steemit
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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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The Three Biggest Problems with Crypto

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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:

Scammers

Failed projects

Immature technology

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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