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Ripple (XRP) – A must-have coin or the complete opposite?

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Ripple XRP

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.

Conclusion

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.

Image courtesy of Pxhere.com

Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

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 like Bitcoin and Dash, to help protect their assets and hard-earned…

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