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High chances for Ripple (XRP) reaching $5 in the following months

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Ripple XRP
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Ripple (XRP), one of the most important virtual currencies in the market, has been under the one-dollar value for some time now, but cryptocurrency experts are predicting it going far above its all-time high of 3 US dollars per unit this year. That is why many virtual currency enthusiasts argue that XRP is a good investment opportunity. Even so, Ripple’s price has been on the decline in recent time, stumbling from $3.48 to $0.59.

Ripple (XRP) being a centralized virtual currency does not try to target individuals with its marketing efforts led by Ripple Labs. Instead, they concentrate on branding themselves as technology stacks for financial institutions and large corporations and as a transaction medium that supports transactions free from fees.

Although adding new clients on a daily basis, their clients being banks and financial institutions all over the world, Ripple (XRP) is still facing aggressive competition from other cryptocurrencies and traditional money transfer institutions like Visa and Swift. Ripple offers xCurrent, xRapid, xVia as their money transfer platforms but this article will concentrate more on Ripple’s competitiveness outside the cryptocurrency ecosystem. So, what’s giving Ripple a cutting edge?

The financial industry warming towards it

Ripple is making headway and gaining ground on their competition who are outside the cryptocurrency world. This should be their main goal, gaining ground on the traditional financial firms since other virtual currencies do not pose any major threat to their business model. Bitcoin, Ethereum, and Ripple, all have different business models and goals.

So how is Ripple gaining ground on financial institutions and spurring price appreciation?

Western Union and MoneyGram are a couple of the money transfer companies that are warming up to Ripple with the adoption of XRP and xRapid. These partnerships between XRP and traditional money transfer service providers are all in the pilot stages.

We will be able to give a more comprehensive update on the viability and profitability involved with the implementation of XRP to this companies. If XRP increases the profits margins and efficiency of money transfers for these companies; it will only be natural that more banks and money order firms in the financial industry accept XRP into their systems. If this happens, the demand for XRP digital coins will skyrocket to the roof.

Following an article that was written by Nathaniel Popper, author of Digital Gold and a New York Times writer, early this year, Ripple CEO, Brad Garlinghouse came guns blazing with the announcement of the implementation of XRapid pilot program by 3 of the top 5 largest money transfer companies. The article done by Popper questioned the acceptability of XRP as a tool for financial institutions quoting some officials in the banking sector saying they do not plan or intend to onboard XRP for transactions.

The point being: Ripple (XRP) has managed to build strong partnerships with major corporations, but it still needs to match forward and venture more into the financial industry. The banking sector is ready for disturbance and Ripple is the technology that could bring a ten-fold improvement in efficiency. If Ripple (XRP) manages to do that, we can expect it to reach $5 mark or even beyond that. Remember, ‘if’ is important here.

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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 Geralt via Pixabay.com

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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