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Ripple (XRP) possesses enough strength to keep going strong

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Ripple XRP
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Ripple’s XRP was last year’s most profitable cryptocurrency by a long shot. No other digital asset came even close. It reached an incredible $3.00 peak last January only two weeks after surpassing the $1.00 mark.

That didn’t happen in isolation; the whole cryptocurrency market went up big time in January. Just in case you didn’t notice it was in January when Bitcoin exploded, which didn’t happen in a vacuum either. The whole market erupted at the time. And then, there was an adjustment, just as it was bound to happen.

Ripple felt that adjustment as well and it went down. As I write this XRP is valued at $0.60, which is a far cry from the $3.00 it reached last January. While this could seem like a big hit for Ripple, you’d be wrong to think it was a setback.

The whole market went down after January, and it only started to go green again in April but, even within that context, Ripple’s XRP remained one of the best performing coins in the world. And it still is.

So how is Ripple managing to keep ahead of the pack when things go down for everybody?

Well, there are several reasons. It’s liquid, it’s reliable, and there’s a massive supply in the market. That helps with stability. Also, it’s listed in more exchanges than any other cryptocurrency (yes, that includes both Bitcoin and Ethereum). 

It’s supported by Ripple’s many platforms that cater to the financial industry, so through Ripple’s solutions, XRP is compatible with debit and credit cards and can be traded directly in thirty-four different currencies. As things stand, no other alt-coin can rival Ripple in terms of liquidity. That’s one reason.

And then there are the numerous partnerships Ripple has been able to secure.

Keep in mind that Ripple designed its technology and its cryptocurrency to be a means to carry out international transactions. 

No, Ripple doesn’t really want only the Amazon or Alibaba to start accepting XRP payments, not at all. What Ripple aimed for from the very beginning was to create a cryptocurrency that banks, remittance services, and other financial institutions could use to settle transactions across borders.

The thing is: they’re actually doing it. During the last Consensus conference (a crypto event organized and sponsored by CoinDesk), Ripple’s Chief Cryptographer made a live demo of an international transaction (100 USD transferred from the US to Mexico) that was completely settled, receipt and all, in two minutes only and at a ridiculous cost (about 1/10,000 of a cent).

If you’re not impressed yet, it’s because you’ve never tried an international transfer. Those things usually take a lot of red tapes, they are very error-prone, and they’re never settled in fewer than three days.

Ripple’s tech results are so impressive that they’ve persuaded seventy-four of the world’s biggest banks to join the Ripplenet, and use it to carry out all their international transactions. This creates demand for XRP because all the transfer fees must be paid in XRP.

Among Ripple’s current biggest partners are Banco Santander (substantial global presence all through the world, and it’s thought to be the best bank in the world in current times), Oman’s BankDhofar, Japan’s SBI holdings and Western Union among other giants.

Ripple’s XRP is a crypto coin that is already making itself useful in the real world, and some of the world’s biggest banks are creating demand for it as they do business.

That’s why, despite market fluctuations, Ripple is still going strong (potential wise on the whole) in the crypto world, and even though it is currently in the red alongside the whole market, the coin will more likely bounce back to green-bag shortly (quicker than the big guns).

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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 Pxhere.com

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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