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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

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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