Connect with us

Blogs

Waves of good news for Ripple’s XRP, price still keeps dipping, when moon?

Published

on

Ripple XRP
READ LATER - DOWNLOAD THIS POST AS PDF

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

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.

Coinbase Custody

Coinbase launched a custodial service a month ago, more or less, and it’s considering forty digital assets to use as wealth storage for their institutional clients. 

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.

Transaction Volume

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.

Q2

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

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.

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.

Coinsquare

The Canadian cryptocurrency exchange Coinsquare announced an imminent listing for XRP. New markets, new users, new demand.

TechCrunch founder

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.

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 Maxpixel.net

Blogs

XRP Surges By 8% In A Surprise Bull Run

Published

on

XRP
READ LATER - DOWNLOAD THIS POST AS PDF

The new price surge that surrounded almost the entire crypto market brought quite a pleasant surprise for XRP holders, as Ripple grew in price by over 8% in the last 24 hours. In fact, XRP managed to achieve a price surge equal to that of Ethereum as of this morning.

While the third largest cryptocurrency is still quite behind ETH when it comes to market cap, many believe that it is only a matter of time before XRP regains its former glory. With that being said, a lot of people are still more than pleased with seeing Ripple climbing back to more stable levels, especially after a big price drop that hit the coin last week.

The new hike up allowed XRP to climb back to $0.446322. While this is still low when compared to its highest point in the last week ($0.52), the coin still seems to be well on its way to recovery. In fact, many believe that XRP has found a new bottom, one that is significantly higher than the last one. Most of this new success can be traced back to a price surge that Ripple has had recently when it even managed to briefly overthrow Ethereum as the second largest coin by market cap.

Despite its drop since then, XRP still remains one of the coins with the strongest growth in the last month. While the market is still far from stable,…

Continue Reading

Bitcoin

If Tether crashes, will that money pour into Bitcoin?

Published

on

Tether
READ LATER - DOWNLOAD THIS POST AS PDF

For a long time now, the so-called stablecoin, Tether (USDT) has been a topic of discussion within the crypto community.

Tether, as a stablecoin, is said to be fully backed by the USD. This allowed it to be one of only a handful of cryptos that can avoid volatility issues, due to the fact that it is backed by a stable fiat currency. However, for as long as it was around, Tether was very secretive of its bank accounts and funds in general.

While claiming to have the ability to back each of its USDT coins, many have questioned whether or not this can be true. At the time of writing (October 16, 2018), Tether has released 2,256,421,736 USDT in circulation. This means that it needs to have at least $2,256,421,736 in order to cover its circulating supply.

At this point, three questions emerge, and answering them could very well change the future of this stablecoin. The questions are as follows:

  1. Are all USDT coins fully backed?
  2. If yes, then where did that much money come from?
  3. If not, what will happen when the market discovers the lie?

Tether continues to keep secrets

As mentioned, Tether has always claimed to be able to back each of its coins. However, instead of operating on transparency, the coin used different tools, mostly opaqueness, misdirection, and playing the victim whenever someone tried to unveil what is truly going…

Continue Reading

Bitcoin

Is Bitcoin (BTC) Better Than USD?

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Despite all its recent progress, cryptocurrencies still do not inspire trust in a lot of people. Many view them as unsafe money, with its very nature being doubtful. However, a recent report by the Polish Academy of Sciences’ Institute of Nuclear Physics shows that situation regarding cryptocurrencies may not be as bad as it seems. In fact, the report claims that Bitcoin might even be a better currency than it looks like.

Bitcoin vs traditional money

Bitcoin, as many are already aware of, is the first cryptocurrency. It was created a decade ago and was officially launched in 2009. But, even though it has been around for around 9 years at this point, it is still largely mistrusted by a lot of investors, especially when it comes to large institutions.

However, thanks to the Cracow-based Institute of Nuclear Physics’ recent report, this common opinion might actually be wrong. The Institute has conducted a detailed statistical analysis of the BTC market and has published the results in a scientific journal called Chaos: An Interdisciplinary Journal of Nonlinear Science.

Surprisingly enough, the report portraits Bitcoin in a very positive light.

The report started by commenting on the credibility of traditional money. In the past, money that people have been using was backed by specific material commodities, such as gold. These commodities gave the money its value and served as a guarantee that the money actually has worth. This is…

Continue Reading

Elite