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Is Ripple finally going to make waves globally?

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Ripple, the blockchain technology, the company, and the associated cryptocurrency (XRP) started somewhat poorly. The crypto community was very skeptical about the network’s centralization features (which have been thoroughly denied by the company) and the fact that it’s a platform that aims to strengthen the global financial system instead of undermining it (which is supposed to be the whole point in crypto) didn’t help to make it popular either.

Well, the times are changing, and it seems that the ugly duckling is finally becoming a swan.

Ripple is being either tested or adopted by many of the world’s biggest and more influential banks. They are more than a hundred now, and they recruit a new one almost every week.

A rumored deal with Catalyst could bring 1400 new banks as users to the Ripple Net in a single deal. That kind of new agreements with massive partners will drive XRP’s demand up. It will create value and increase the price.

As you probably already know, the crypto market has been in free fall since last December, and most coins have been losing value. Only a handful of cryptocurrencies have been able to gain modestly, and XRP is one of them.

It’s been going up steadily for six weeks. It was at $0.25 on September 12th, and, since then it’s grown by more than 80%. It’s at $0.46 as we write this. It’s a small bull that’s managing to beat a big bear.

Bitcoin’s stabilization at around $ 6,500 could also be a factor for XRP’s growth and increased investor confidence brought about by a stream of exciting announcements.

Experts keep reminding the cryptosphere that the market is still far from mature. The value of most cryptocurrencies is currently driven by speculative pressure instead of mainstream adoption. This puts Ripple’s XRP in the privileged position to be the first token whose value will actually be determined by supply, demand, and real-life value.

Just a few weeks ago the Ripple Swell conference took place, which is the company’s annual meeting with investors and partners. Bill Clinton delivered the keynote speech, and the company announced xRapid which is to become its flagship service. It will use XRP working in tandem with Ripple’s blockchain so that banks can settle international payments in a matter of seconds, instead of the days they usually need.

The Bill and Melinda Gates Foundation is also partnering up with Ripple. Along with Coil, the three institutions will develop an interledger protocol. This means that the new protocol will link different payment layers (which are not compatible so far) so that payments can be settled without any friction.

Another interesting development comes out of the Whitehouse. It is not confirmed yet, but it seems that President Donald Trump is interested in Ripple. It’s anybody’s guess if he understands the first thing about the blockchain, but he wants it as the US Blockchain and Cryptocurrency official option.

The reason for this is that XRP cannot be mined at all. It was already mined in full by Ripple Labs before it went online, and that means that the network’s control cannot end up in China, which is what has happened to many other projects, Bitcoin main among them. If the US Federal Government takes Ripple’s side, it would be a massive development since regulatory issues have been an issue for Ripple, at least regarding public perception.

And then, the Japan Consortium Bank has created a project for peer-to-peer money transfers called SBI Ripple Asia. It includes an app: Money Tap.

Ripple is putting a lot of pressure on Ethereum. It’s smaller by market capitalization by only three billion currently. But it keeps going up and reporting good news as Ethereum keeps going down and saying bad news.

So don’t be surprised if XRP takes over ETH’s place behind Bitcoin sometime soon. Remember also this: XRP was last year’s most profitable cryptocurrency even before the long list of successes it’s had over the present year.

We all know that a bull run will come to the crypto market sooner or later, we just don’t know when. The thing to keep in mind is that, as things stand right now, it could be led by XRP and Ripple.

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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 NeuPaddy/Pixabay

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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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…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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