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Ripple’s (XRP) Journey in May 2018

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Ripple and Xpring

Ripple focuses on introducing blockchain technology and faster transaction system to various businesses. “Xpring is a new initiative by Ripple that will invest in, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs.” (Ripple official website) The XRP ledger and the digital asset XRP will be utilized by the entrepreneurs to provide solutions to their customers in a new found way.

Ripple (XRP) and Mitsubishi Corporation and MUFG (Mitsubishi UFJ Financial Group)

Mitsubishi had announced that they are going to test the technology of cross-border payment implemented by Ripple. Standard Chartered had made another announcement stating that they will take part in the remittance test. It seems that Ripple has made its mark with many such partnerships with internationally renowned banks and other financial institutions. The announcement comes on time when people are complaining about the taken to do a transaction and the charges implemented in the process. At present, the international money transfer system uses the SWIFT network and the transaction costs are high as it is a multi-layered process involving various banks to reach the recipient address.

The whole process will take place through Ripple (XRP) to support a faster transaction system and reduce the expenses. The objective of Mitsubishi is to incorporate Ripple’s cross-border payment technology in the public sphere such that it can be used for regular use. At the moment, according to the official statement, the transactions will be made using Singaporean dollars. The transaction will start from Thailand and end in Singapore. One of the Mitsubishi subsidiaries will use an Ayuthaya Bank account to send funds to a previously established account owned by Mitsubishi Corporation Affiliate in Standard Chartered.

“The successful launch of our commercial cross-border payment service marks a significant milestone in the financial industry’s progress in applying distributed ledger technology for corporates.”

  • Gautam Jain, managing director and global head of client access

SEB, MUFG, YES BANK, Cambridge Global Payments, BBVA, and Akbank are just some of the companies with which Ripple had partnered up since 2017 to ensure a safer, faster and less expensive transaction system.

Ripple and Apple Partnership

The point that made Santander and Wilderness Inc. choose Ripple over other cryptocurrencies is that it can also be used to conduct internal transactions within companies that also incorporates “international” and “cross-borders”. As xCurrent or xRapid platforms of Ripple can be easily incorporated into these companies’ ecosystem, the transactions are completed much faster securely and at low costs.

Being a giant in the tech industry, Apple specializes in assembling sophisticated pieces of tech to provide an easy to use and reliable interface. Thus, Apple announcing that it will partner with Ripple for installment record and administration can be beneficial for both the sectors. However, Apple will at the moment only implement Ripple’s technology. If in future, Apple adopts the crypto coin then the clients of the tech giant adopting XRP token will be a huge success for Ripple and will enhance its market presence. Stellar is on the way to give tough competition to Ripple and other cryptocurrencies, therefore, this announcement comes right on time.

Ripple (XRP) Price Analysis

Studying the historical price chart of Ripple (XRP) at coinmarketcap.com, it seems that the crypto coin is experiencing the usual fluctuations of the cryptocurrency market. When the weekly chart is observed, the downtrend is losing its strength as the price seems to be unable to reach below the $0.47, XRP’s lowest in April 2018. This will hopefully start a bull trend. The Twitter announcement of Revolut on 18th May about a ‘BIG’ update in the next week seems to have triggered some instant response from the community and Ripple fans. (The Revolut app allows the users to connect to a bank account where they can hold, buy or exchange cryptocurrencies like Bitcoin, Ethereum, and Litecoin. The value can be converted to 25 fiat currencies.) Also, the partnerships with Mitsubishi and Apple can also be the indicators of bulls taking over the Ripple market gradually. However, according to coinmarketcap.com, at the time of writing, the price of Ripple (XRP) shows $0.675 USD (-3.43%) approximately. A market cap of above $26,481,000,000 USD and volume (24h) of approximately $237,661,000 USD keeps the crypto coin floating at 3rd position. (As of 22nd May 2018)

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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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Altcoins

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

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Aluna.Social
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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,…

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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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