Ripple (XRP) is characterized being one of the cryptos in the market that continually plays the most strategic moves to keep its position in the charts, and at the same time, be an active piece on the breaking of paradigms of the cryptocurrency world.
In fact, Ripple is working with more than 100 financial institutions around the world at the moment, among which are included renowned enterprises such as Santander, American Express, MoneyGram, Western Union (the company seems to have changed its mind just recently, though), and others.
However, it is not a secret to anybody that XRP as a token has been suffering pronounced losses in the last couple of months, a fact that is mostly attributed to the generalized slumps of the market, one of the hardest difficulties the sector has faced in history.
Like this, the token is currently looking for a solution to surpass the prices issues, and apparently, it already has come up with a very brilliant solution. This time Ripple (XRP) is looking forward to approaching a new target, and nothing seems to be more promising than engaging like this with the remittance payment sector, an alliance that may take the value of the coin to $5 or more. Let’s take a look at how it goes.
Asian remittance payment marketplace
Remittances are sent all over the world every day, and this is definitely a great niche to put the eyes on, considering the inefficiencies that cross-border transactions tend to incur in. This said, I think I speak for all of us when I say that there’s actually not a better candidate in the cryptosphere to remove the frictions of transacting from one country to another, than Ripple (XRP).
Ripple is willing to remove the slowness while sending remittances abroad with the deployment of its solution xRapid, a product created to source liquidity and provide a platform to transact easier, cheaper, and simply better. But to make this happen, the company needs to define a starting point, and for this, Ripple has chosen nothing less than the Asian marketplace.
The Asian marketplace is one of the biggest in the world. In fact, Asia is considered the world center for remittances, being a continent where the remittance market produced an amount of 465,857,000,000 US dollars just in 2016, and is forecasted to hit the value of 500,482,287,387 US dollars by the end of the year.
This way, if Ripple manages to achieve its mission, it would be targeting both low and high volume remittance transactions in Asia, a milestone that could skyrocket the price of the coin to $5 in the short term, and even more in the long run.
The math behind this is actually quite simple. If we consider the forecasted value on remittances by the end of the year (500,482,287,387) and divide it by the amount of circulating XRP (around 100,000,000,000), we have the mentioned value per coin of 5 USD. However, this is only if we consider the whole amount of XRP in existence, but if we discount the equivalent percentage of XRP that belong to HODLERS (10%), then the value could reach to $5.25 in just a couple of months.
Furthermore, in lights of the adoption of xRapid for remittance payments, more coins will be used, which can translate into a larger amount of XRP in circulation. Like this, taking into account the 25% discount of HODLERS, the price would be $5.66, and even beyond, considering 50% the price would reach the mark of $6.25.
Ripple (XRP) one more time is proving to have the best decisions in the market and to say the least, this is something that will be beneficial not only for the crypto but as well for the thousands of people who struggle to send remittance back home every day.
The possibilities of this becoming a reality are immense and even more to expand to new horizons, for instance, at a global scale and not only in Asia, which, of course, would represent an incredible boost for the price of the third largest coin of the market, XRP. Hold tight, Ripple bull is coming.
For the latest cryptocurrency news, join our Telegram!
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 Maxpixel.net
How Can Foreigners Get Loans in Singapore
Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.
At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary.
What defines a foreigner in Singapore?
A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
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.
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,…
CoinFlip Scores Big with BRD Wallet Partnership
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…