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Ripple XRP targets to reach $3 mark this year, here’s how

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Coinmarketcap has Ripple’s XRP coin as the third largest in market capitalization with a whopping $32 billion. XRP’s price keeps rising, and it could very well surpass the $1 psychological barrier this month – and go as far as $3 by this year’s end. Yes, seriously, it can!

There are reasons to suspect it is poised to improve even last year’s miraculous performance and will reach the $3 mark, here are three.

2018 will see an increase in remittances all over the world

The World Bank expects remittances to grow by at least 3% this year as immigrants everywhere keep sending money back to their homelands and their families in China and developing countries. Ripple is becoming the service of choice for cheap, fast and reliable international transactions even for banks and financial institutions.

Ripple Labs has developed successful partnerships with many of the big names in the remittance industry such as Western Union and MoneyGram who dominate the market and are adopting Ripple for transactions.

As national economies keep growing faster in the European Union, Russia and the U.S.A., the remittance flow will keep growing towards Sub-Saharan Africa, Latin America, and Central Asia.

Then, as we all in the crypto industry know, there’s the brand new deal Ripple recently secured with Banco Santander, one of the world’s biggest banks with a global presence. This will increase Ripple’s market while Santander will see its costs go down by 20 billion pounds by transacting with Ripple instead of traditional technology

However, the World Bank also expects the remittances costs to rise everywhere as well, and this could hinder the growth. That’s where Ripple could come in as a way to keep the transactions volume rising but the costs low and speeds fast. Ripple’s tools (xRapid, xVia, and xCurrent) are being integrated into banks globally, and that alone could make the remittance market even more than expected.

Ripple technologies will integrate XRP in the future

It’s important to understand that Ripple and XRP are not the same things at all. XRP is a currency and Ripple is the lab behind it, and they are not interchangeable entities or concepts.

The main link among them is the fact that Ripple Lab owns most of the XRP currency (more than 60% of the total supply). Ripple’s partners, present, and future can use xRapid, xCurrent, and xVia to exchange payments using any currency they choose. But the best deal for them would still be to use XRP because it brings costs down very significantly.

That being said, Ripple is being very successful as a remittance agent and using XRP in transactions will help them and their clients even further. So the influence such success will have on XRP’s performance should not be underestimated.

As the industry keeps moving towards instantaneous digital payments, more banks will adopt XRP; it’s just matter of time. It’s impossible to predict the timeframe for this correctly, but it won’t be too long. After all, Ripple is holding on to incredible amounts of XRP, the only reason for that is that they mean to use it in the future.

Attitudes are changing 

XRP numbers have just been getting better an better since last February when the price went down to less than $0.5 from $3. This market correction created FUD (fear, uncertainty, and doubts) around the coin with some detractors even declaring that XRP is not decentralized.

But it’s been becoming stronger, at a current price of $0.80 (which is still cheap), and the cryptocurrency has momentum on its side. Ripple uses its high reserves to keep some control over the price, and as more investors get involved with it, indirect centralization will just become impossible.

This is the best time to join the Ripple/XRP phenomenon as FUD is going away and being replaced by FOMO, and once Ripple and XRP become too big (as it’s happened with Bitcoin) it will be a missed chance. You better decide.

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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 Rorisu Hazuki via Flickr

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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