Connect with us

Altcoins

Ripple XRP Mega Breakout About To Happen

Published

on

Ripple XRP mega breakout
READ LATER - DOWNLOAD THIS POST AS PDF

All social media platforms are abuzz with a possible Ripple XRP mega breakout price by the end of the year and due to xRapid. One argument is that if XRP went to $3.82 earlier on in the year based on a rumor that Coinbase will list it, then with xRapid – which is a guarantee – the value of the digital asset could see higher levels than those seen in January.

XRP has managed to maintain levels above 30 cents after it spiked in the markets on the 18th of September. During that day, the digital asset did approximately 21% in gains in a 5-hour window of time. The digital asset rose from $0.274 to $0.33 further proving to its loyal HODLers, that good times were ahead for the digital asset.

XRP Spike due to xRapid News. Source, Coinmarketcap.com

xRapid Factor

Further doing our research as to why XRP spiked in the markets, we find that on the 17th of September, one of Ripple’s top executives hinted at xRapid going live in the next month or so. This exec. was Ripple’s Head of regulatory relations for Asia-Pacific and the Middle East at Ripple, Sagar Sarabhai and he had this to say:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

xRapid is known to utilize XRP as an instant source of liquidity when funds are being sent across borders. What happens is that xRapid uses XRP as a temporary store of value of the transaction until it reaches the receiving side, where it is instantly converted to the local currency. The genius of xRapid is that it reduces the transaction speed of cross-border payments from 2 to 3 days to 2 or 3 minutes. The banks, or remittance service providers, end up saving 40% – 70% in foreign exchange costs.

When xRapid goes live in the next month or so, XRP is 90% guaranteed to break out in the markets. The reason for not giving a 100% on that guarantee, is that we are currently in a bear market, and any FUD such as the fake news about Goldman Sachs a few weeks ago, can ruin XRP’s ride to the top.

3 Major Exchanges to Facilitate xRapid

Just a few weeks ago, the Ripple company announced that it had partnered with the three exchanges of Bittrex, Bitso, and Coins.ph to further their xRapid operations. The three exchanges operate in the United States, Mexico, and the Philippines respectively and will be used by remittance service providers, to source XRP directly from the cryptocurrency markets.

This means that as remittances start being sent using xRapid, the trade volume of XRP will definitely increase in the markets and bring the much-needed attention to the digital asset. The only way is up for the digital asset henceforth.

Ripple XRP mega breakout

One prediction that has continually appeared on Twitter, is that of $589 per XRP by the end of the year. This value was predicted by a mysterious Reddit member known as Bearableguy123 back in February. All his posts on the platform have since disappeared and so has his Twitter account. But this number has stuck in the XRP community with a good percentage believing this prediction.

What do you think of the $589 price prediction by the end of the year? Is it possible for XRP? Please tell us what you think in the comment section below.

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 Pexels

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

Continue Reading

Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

Published

on

SonicX
READ LATER - DOWNLOAD THIS POST AS PDF

When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

Continue Reading

Elite