Without any doubt Ripple (XRP) is a virtual coin with one of the most solid behaviors in the market, being currently ranked as the number 3 in the cryptocurrency listings, but is it really worthy of that much attention? This is for sure a question we should all ask ourselves once we decide to invest in a token. Beyond positive sentiments, there are regularly specific facts that may help us choose the right cryptocurrency to put our bets on.
In this matter, the token of Ripple has always triggered a considerable controversy regarding if whether or not should the coin be considered a good option to take.
A large part of the community believes there certainly are reasons to believe so, but on the other hand, we have as well experts making negative comments about the coin. So what should we believe in? Here I present the main pros of and cons of acquiring Ripple (XRP).
Pros of the token
- Position in the marketplace
At the moment of writing, the current position of Ripple (XRP) in the market is the number 3, with a total market cap of $24,092,424,875 and a volume in the last 24 hours of $428,931,000.
Similarly, despite the bearish behavior of the coins in the previous week the coin has started to take off again, even managing to increase 1.44 percent in the last 24 hours.
Even when the position of a coin is not a sine qua non-indicator that the token is actually valuable, Ripple (XRP) has proven with the time that is determined to get to the top of the lists.
The crypto is currently the number 3, right after Ethereum (ETH) and Bitcoin (BTC), but not so long ago it was the number 6 on the rankings, which proves how well the coin is conducting through the list.
- Partnerships and adoption strategies
One of the most applauded strategies of Ripple is its partnering activities. At the moment the company has managed to engage with at least a 100 bank entities around the globe, offering its platform as a solution for decreasing costs and reducing the time it takes to deploy an operation.
Ripple (XRP) is the first crypto to accomplish a relation with several banks at the same time, and even when the affiliation is not through the XRP token, just the mere interaction with a solution created and implemented by the creators of the coin gives the crypto an actual chance of a massive adoption in the short term, and of course a boost in their prices.
- Stability of the platform
Ripple possesses one of the most stable platforms of the cryptosphere; it has proven to be a network free of cataclysms and is integrated with innovative techs that make operations much easier and practical.
Also, the token has a very affordable (I’d rather say low enough to buy in bulk) price maintaining a value under the dollar, a fact that gives the opportunity to both users and companies of acquiring the token at a very fair price rate.
Cons of the token
- Remarkable adoption of xCurrent
As I noted before, Ripple has managed to make several partnerships around the world, even accomplishing 100 successful alliances with different bank entities. However, these alliances have not been realized through the product containing the XRP token, or xRapid; instead, they have actually consolidated almost all of their partnerships by using xCurrent.
Although it is highly expected somehow the company manages to redirect these alliances through xRapid, there’s no any warranty that this is going to happen.
- Possible regulations
It has become a popular rumor among the community that the Securities and Exchange Commission (SEC) of the United States has its sights on Ripple (XRP), and actually might declare the coin as a security, the fact on which is attributed the latest decreasing interest for investors in the coin.
- Control of the company over the token
Ripple Labs has outstanding (or I’d better say annoying) control over the XRP token; in fact, the company owns around a 60% of the total XRP coins in the market which, of course, gives it great power over the currency and its behavior.
There are both good and bad indicators on the token, but if we take a close look at the negative comments, they somehow tend to imply the XRP might not continue its growth in the marketplace.
However, the current position of the coin is remarkable, and even when other coins may surpass it in the future, still investing in Ripple’s XRP looks definitely like a good option to take. Again, the crypto stands at number three position among the long list of more than 1600 cryptocurrencies at the moment; there must be some good reasons behind that, right?
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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.
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Reasons Why You Are Much Safer When Crypto Trading on Dexes
While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.
During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.
Here are some reasons why you might want to consider doing the same.
1. True ownership of your coins
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.
Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.
He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world. Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon. This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs. One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos. TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.
Problems with Centralized Casinos
The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model. And online casinos are no different. It still needs to be said that centralized casinos have proven that there is a great demand for online gambling. The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative. But industries are continually evolving and this one is no different.
A few of the problems facing centralized casinos include the following:
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These are four monumental issues that need to be addressed quickly given the global growth of the market. Casinos need to…
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