Ripple’s XRP was last year’s best performing coin so as the current year started, it had gained credibility, and much was expected from it. So far it’s been relatively shaky (which is no mean feat in a market that’s been bearish for 7+ months now), but it’s performed more or less in the same way as the whole market has, which is to say, dismally.
And yet, there’s reason to believe that XRP is severely undervalued and a stream of recent excellent news help prove that point.
BitcoinSuperstore is a platform that allows you to use a selection of crypto coins to pay for goods and services online (Amazon and Walmart, for instance).
The platform just announced it would be accepting XRP as means of payment which gives XRP holders to more than 200,000 online stores all over the world. This is a milestone for Ripple as it means that non-institutional users will finally be able to transact in micropayments using Ripple’s token.
XRP payments are back up and operational!
— Bitcoin Superstore (@BitcoinSuperst1) August 8, 2018
While this means only one new user for XRP, the announcement denotes confidence in XRP’s future performance and reliability. This doesn’t mean that Ripple’s XRP will be available for trade at Coinbase, but it will undoubtedly create demand nevertheless.
You can follow the way the Ripple ledger evolves in Twitter. The xrpl_monitor Twitter account gives out a tweet for every transaction held in the network, and over the last 24 hours, it’s reported an unusually high number of significant transactions. The good thing about this is that every transaction fee must be paid in XRP so this creates demand for the token thus driving price (or at least, stability) up.
Ripple Labs announced that 2018’s Q2 had been the best since the company’s foundation. And that happened while the market is bearish. Of course, this has to do with Ripple, the company, and not with Ripple, the token, but the two entities are linked strongly enough that what’s good for one is good for the other as well.
Wirex is a company that issues debit cards. Visa debit cards, to be more precise. They announced they are adopting XRP which means that you can connect your digital wallet to a debit card and use XRP to pay for groceries, the movies, cigarettes, or anything else for which you use your card on a regular basis.
Welcome to the club #xrp
— XRP YODA (@XrpYoda) August 8, 2018
This is a breakthrough that could surpass the BitcoinSuperstore one because while the latter is for online use only, this one means that you can use XRP to pay for goods and services in the street. Ripple is, at last, changing their paradigm.
The Canadian cryptocurrency exchange Coinsquare announced an imminent listing for XRP. New markets, new users, new demand.
— Coinsquare News (@CoinsquareNews) August 7, 2018
It seems that TechCrunch’s founder tried Ripple out, and he loved it. He transferred fifty million dollars through the Ripplenet. The transaction was settled in three seconds, and the fee was 3 cents.
While this is maybe not the most relevant news in this list, it’s still great PR, and Ripple needs it desperately at a time in which its most direct rival, Stellar Lumens, is getting excellent coverage everywhere.
The future of Ripple (XRP)
Any of the news above should be sufficient to appreciate how robust the Ripple project still is. It’s gaining ground, getting new critical strategic partners and it’s opening itself up to new possibilities such as becoming a consumer currency as well as an institutional one.
To put it simply: XRP is undervalued in epic proportions, and the only reason it’s not been doing great is that the whole market has had a terrible time this year. And currently, what we all are witnessing is the third-biggest (I should instead say worst) bearish run in the history of crypto. But a bull run will arrive sooner or later, and, when it comes, XRP will be positioned to take off spectacularly.
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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.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
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.
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,…
CoinFlip Scores Big with BRD Wallet Partnership
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…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
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.
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