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Is Ripple finally going to make waves globally?

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Ripple
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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

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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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…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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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…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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