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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

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

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