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XRP may hit $5 value in the short term if Ripple conquers the remittance field

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Ripple XRP
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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.

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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.

Conclusion

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.

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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 Maxpixel.net

Altcoins

DGB Price Prediction For 2018 and Beyond

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DGB price prediction
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With the crypto market being constantly bearish throughout this year, a lot of investors are having second thoughts about buying additional coins. While some large cryptocurrencies like Bitcoin or Ethereum can be considered safe investments, smaller coins like Digibyte (DGB) often receive a lot of doubt. This is why the DGB price prediction is necessary so that the investors can know what to expect.

DGB Price Prediction

DGB has had its ups and downs throughout this year, and at some point, it even went up by 70%. However, the constant bear market affected it just as much as numerous other cryptos. This has brought its value down to its current $0.025378 per coin. Some optimistic predictions from earlier dates saw the coin reaching as high a price as $9.20 by the year’s end. However, as we approach the date, it seems less and less likely that this DGB price prediction will come true.

The coin is generally seen as a profitable investment. As it is always the case with cryptocurrencies, they should be bought when their prices are down, so that a profit could be made when they spike up once more. Digibyte is no different, but it should be noted that investing in this coin means having patience. DGB is not among the coins that will make you rich overnight, and instead, it should be seen as a long-term investment.

Even though 2018 has been as…

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Altcoins

Why ZCash (ZEC) Is Heading to $10k

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ZCash
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Back in mid-May, the Winklevoss Twins made the headlines for embracing ZCash (ZEC) as one of its major digital assets on their groundbreaking Gemini exchange. When the announcement was made, ZEC rallied in the market by showing a 45% increment in value. The coin made it to $357 in a matter of hours.

Further assessing the currently available digital assets on the Gemini platform, we find that the exchange currently has USD pairings for only Bitcoin (BTC), Ethereum and ZEC. There is also additional pairings of ETH/BTC, ZEC/BTC and ZEC/ETH with plans to onboard Litecoin in the coming days.

Another thing to note is that the exchange also provides custodial services for institutional investors thus giving ZEC the much-needed exposure to the firms on Wall Street. Custodial services provide a guarantee that all digital assets on the platform are stored by a licensed entity thus extinguishing any cybersecurity concerns. For an entity to be licensed in New York for custodial services, the proper due diligence and research have been done.

Another thing that makes the Gemini exchange attractive and appealing to institutional investors, is that all USD deposits are insured by the FDIC. The latter entity is the Federal Deposit Insurance Corporation that provides insurance for USD deposits in American banks. This means that once again, the funds of individual and institutional investors are safe and insured, further making…

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Altcoins

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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