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Ripple’s XRP: The bears had the day, and we couldn’t be happier!

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Ripple XRP
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A few days ago, it was a massacre for every single cryptocurrency in the world. We loved it! I am not mocking you. I know that for many currency holders around the globe this created a lot of stress as they saw how their assets kept losing value at high speeds. We’re sorry about that. But if the asset you’re holding is Ripple’s XRP we believe you had nothing to worry about but, on the contrary, had every reason to salute the opportunity to get some more.

There is a massive difference between XRP and most other cryptocurrencies. XRP already has a real-world application which is to mediate international financial transfers. It’s also accepted as means of payment in more than 200,000 online establishments in the web and Coinbase Custody is considering to use it as a wealth storage asset.

All that means that while too many cryptocurrencies in the market draw their value from purely speculative fluctuations, XRP has real value as a means to solve problems and that ability to be useful will create demand sooner or later. But that’s not all, there’s every reason to believe that XRP’s supply will become a lot more limited soon, and that will drive its price up too.

Let’s dig a little deeper. If Coinbase Custody is considering to use XRP to store wealth then many other custodial institutions are doing the same, they’re just not publicizing it yet. Also, there is a trend in many crypto exchanges in the world to adopt XRP as a base token to carry out trades (until now, Bitcoin has been the king in this regard).

Those two things are critical because if custodial services buy Ripple’s XRP to hold it for long periods of time, they will drive the circulation down. And the same goes for exchanges because to use XRP as a base currency they will need to load up their XRP reserves, and those tokens will also be out of circulation in the market. In this way, Ripple will have extra demand at the time exchanges or custodians buy it, and its flow will go down as they hold it. Both things drive prices up.

Another thing to take into account is that most of Ripple’s current partners (Santander being the most notable exception) are not using xRapid in production yet. They are testing the technology and getting used to it. But many among them (most probably all of them) will end up adopting it and using it in large volumes on an everyday basis. This will create demand for XRP because it will be needed to transact using xRapid.

So why we should be so happy? Because there are high chances that XRP will take off sooner rather than later. Again, it’s not based on speculative value but in actual usefulness. Even after recovering quite well last week, TRX is trading in red today, again (so far, at the time of press).

Again, it’s not based on speculative value but in actual usefulness. So this massacre of a day gives us the opportunity to buy more Ripple’s XRP tokens at insanely low prices. As far as I can tell, it could turn out to be the opportunity of a lifetime.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Ross Sokolovski on Unsplash

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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