Bitcoin

Ripple (XRP) Just Took Two Steps Closer To Global Domination

Published

6 years ago

January 25, 2018

In our coverage of Ripple (XRP) on Wednesday, we highlighted the reasoning behind our long-term bullish expectations for Ripple the company and the coin that underpins it. For anyone that missed the piece, it might be worth jumping back to check it out. For anyone that doesn’t want to click away, our thesis was relatively simple – this is a company that has perhaps made the biggest strides towards mainstream enterprise adoption of any cryptocurrency and it’s one that’s paving the way for the shakeup of the global financial system that has been promised since the early days of crypto but that – at the same time – is yet to fully materialize.

XRP Daily Chart

That’s not to say it won’t materialize – just that it needs a pioneer coin and company to lay the groundwork before others can follow in its wake.

And Ripple is that pioneer.

Less than twenty-four hours after we outlined our thesis on the company (and, in turn, XRP), Ripple has validated our argument.

The company just announced two fresh partners, each of which has come on board to trial its flagship technology – what’s called xRapid.

This is the technology that forms the basis of the partnership with Moneygram that hit headlines at the end of last week. It’s also the technology that’s at the root of partnerships with some of the biggest global financial institutions, including Santander, BoA, American Express and more.

Basically, it allows for the instantaneous and incredibly cheap transfer of value across borders and between currencies. These are transactions that take more than three days in many cases as things stand and this sort of process is decades behind practically any other data transfer process that exists today.

So what’s the deal with the new partnerships and what does it mean for Ripple and XRP?

The company just announced that it’s teamed up with two companies – MercuryFX and IDT – to trial the xRapid technology. The companies basically want to use xRapid to improve on the services they offer to their clients. In the case of MercuryFX, it’s all about global settlement and transaction fees. In the case of IDT, which is a publicly traded telecommunications company, it’s about real-time transaction settlement.

So what’s important about this as far as what happens going forward is concerned?

Well, that Ripple is picking up partnerships left right and center is great news whatever the root of the arrangements. There’s a more important element of this development, however, and it’s based on the way that companies outside of the cryptocurrency are starting to see Ripple.

In short, these companies are looking at Rippe and, specifically, the technology that Ripple has created and now offers, as a way to get a jump on their competitors. Think about it. If one bank is going to offer you instant, free, cross-border transactions and another is charging 5% and taking 36 hours for the same transaction, which are you going to open an account with? If a forex brokerage is settling deposits and withdrawals instantly when the one you are currently trading with takes 24 hours and charges 1.5%, are you going to switch? Probably.

That’s the key to this technology taking off and mark our words – it will.

Ripple has outgrown the crypto space to become a technology play that’s offering existing, behemoth organizations the opportunity to pick up a competitive advantage over its peers.

Every time Ripple announces a new partnership, the company is a step closer to becoming the first company to really break through into the mainstream of global industry.

And as it grows, so should the market capitalization of XRP.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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.

Image courtesy of Ripple

Bitcoin

Bitcoin Price Dumps Below $41,000 Amid Uncertainty

Published

4 months ago

December 18, 2023

Crispus

Bitcoin price dumped hard on Monday, briefly slipping below $41,000, erasing gains recorded in the previous week. The premier cryptocurrency seems to have exhausted its recent rally propelled by industry vulnerabilities. At the time of writing, the world’s largest cryptocurrency was trading slightly lower at $41,385. Bitcoin’s total market cap has dipped by 2% over the past day, while the total volume of BTC tokens traded over the same period climbed by 58%.

Fundamentals

Bitcoin price has been facing retracements and a rollercoaster over the past few days after recently rocketing to a 20-month peak. On-chain data has suggested that many investors used the opportunity to take some profits, leading to a decline in the asset’s price.

Bitcoin’s price slump is mirrored in the wider crypto market, with the global crypto market cap decreasing by 1.85% over the past 24 hours to $1.55 trillion. The total crypto market volume has increased by 32% over the same period. The Crypto Fear and Greed Index has plunged from a level of extreme greed to a greed level of 70, suggesting a decline in risk appetite.

Ethereum, the largest altcoin by market capitalization, is currently trading at $2,167, down almost 3% for the day. Meme coins have been hit hard by the market slump, with Dogecoin and Shiba Inu down by more than 4% over the last day.

Last week on Thursday, cryptocurrency experts took notice of…

Bitcoin

Bitcoin Price is in Consolidation Mode Despite Market Optimism Post-Fed Decision

Published

4 months ago

December 14, 2023

Crispus

Bitcoin price edged lower on Thursday despite optimism in wider markets on the back of the Fed’s interest rate decision. The flagship cryptocurrency has been consolidating above the critical level of $42,000 after briefly topping $44,000, its highest level in 20 months. Bitcoin was trading 0.71% lower at $42,569 at press time. BTC’s total market cap has increased by more than 3% over the last day to $832 billion, while the total volume of the asset traded over the same period jumped by 22%.

Economic Outlook

Bitcoin price has been trading sideways over the past few days, suggesting a pause in its recent rally towards $45,000. The premier cryptocurrency has decreased by 4% in the past week but remains 15.22% higher in the month to date. The digital asset has staged a significant recovery this year after a torrid 2022 in which a string of scandals, including the collapse of FTX, led to a market meltdown, undermining the credibility of the sector.

The crypto market has been buoyed by the Fed’s latest interest rate decision. The US Federal Reserve on Wednesday held its key interest rate unchanged for the third consecutive time, in line with market expectations. With the easing of the inflation rate, members of the Federal Open Market Committee (FOMC) voted to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%.

Additionally, the central bank indicated that three rate…

Bitcoin

Bitcoin Price Blasts $44K in Spectacular Surge as Spot Bitcoin ETF Approval Looms Large

Published

4 months ago

December 6, 2023

Crispus

Bitcoin price has been hovering above the $43,000 psychological level over the past two days amid anticipation about the potential approval of a spot bitcoin ETF. The flagship cryptocurrency has climbed more than 16% in the past week and nearly 170% in the year to date. Bitcoin’s total market cap has increased by nearly 5% over the past 24 hours to $858.9 billion, while the total volume of the token traded rose by 43%. The Bitcoin price was trading at $43,914 at press time.

Fundamentals

Bitcoin price has posted significant gains over the past few days, climbing to its highest level since April 2022, before the crash of a stablecoin that started a litany of company failures, pummeling crypto prices. The world’s largest cryptocurrency briefly topped the crucial level of $44,000 on Wednesday amid rising momentum despite being massively overbought.

According to analysts, with no spot bitcoin ETF approvals yet and the halving event five to six months away, the market is riding on FOMO. Capital has been flowing in the Bitcoin market amid enthusiasm that the launches of spot ETF will bring in billions of dollars of new investment into the crypto sector.

Investors have already started providing capital as seed money for ETF products. Notably, a recent report by CoinDesk showed that the world’s largest fund manager, BlackRock, received $100,000 in capital from a seed investor for its spot bitcoin exchange-traded fund…