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

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Ripple xrp $3 mark 2018

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

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

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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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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