Connect with us

Blogs

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

Published

on

Ripple XRP
READ LATER - DOWNLOAD THIS POST AS PDF

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.

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

Image courtesy of Ross Sokolovski on Unsplash

Blogs

How Can Foreigners Get Loans in Singapore

Published

on

loans for foreigners in Singapore
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

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

Published

on

Aluna.Social
READ LATER - DOWNLOAD THIS POST AS PDF

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,…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Press Release