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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

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.

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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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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.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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