Connect with us

Blogs

Ripple’s XRP: You should expect the big bull to visit shortly

Published

on

Ripple XRP bull
READ LATER - DOWNLOAD THIS POST AS PDF

The last couple of weeks have not been exactly great for the cryptocurrency market. Bitcoin alone lost more than a thousand dollars in value, so the outlook looks bearish. But things are happening that can bring up the market again, and Ripple is involved in them.

Ripple has secured two new partnerships with new financial institutions that will adopt their xRapid platform and the XRP digital currency to do international transactions. This is going to increase Rippel’s XRP demand for sure and improve its performance even as the rest of the market is slow.

Currencies Direct is the first new partner. It is based in the United Kingdom, and it does currency exchange which is right up Rippel’s alley. They just did a full test using xRapid to transfer money over international borders, and it worked fine for them.

Several other financial institutions are testing Ripple’s blockchain technology, and 75 of the world’s biggest banks are already using it for business on a daily basis. The tests have been nothing short of spectacular, like the one done a few weeks ago at the Consensus 2018 conference.

Ripple saves the bank (and the bank’s client) from 40 to 70% in transaction costs and fees but, most importantly, it saves them incredible amounts of time. Every Ripple transaction takes about two minutes to complete (while the traditional way, using the SWIFT system usually takes from two to four days).

Mr. Brian Harris, Chief Product Officer at Currencies Direct, expressed himself this way about the tests:

He then added,

The Kuwait Finance House (KFH) also joined the Ripplenet last week; they are the first bank in the country to adopt Ripplenet. And they seem to be just as happy to have joined Ripple. 

KFH hailed Ripple as the future in international money transfers that make things quickly and, above all it makes Humanitarian work easier and more plausible.

So these two crucial banks are going for Ripple, and this is enough to think that both the Ripple’s coin and the project will be doing well. If you are still not convinced that a massive Ripple XRP bull run might be on its way, let me share another great news with you.

The long-awaited SBI Virtual Currency, a Japan-based exchange, has put Ripple (XRP) onto their website, only Ripple (XRP). Of course, the trading platform will more likely add other cryptocurrencies soon too, but no other cryptos are mentioned as of now. That is a definite hint of their intentions to make Ripple (XRP) the primary cryptocurrency exchange will list.

Ripple’s capabilities persuaded Matthew Mellon (may he rest in peace) to invest two million dollars in the currency and the technology. His investment is now worth a billion, so he saw the writing and the wall, and he did the right thing. Maybe you should as well.

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

Image courtesy of James Frid via Pexels.com

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

Published

on

Bitcoin crash
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Elite