The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.
The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:
“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.”
Stellar’s Cross-Border Payments
The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.
Stellar Acquiring Chain
Also, less than a week ago, the Stellar Development Fund, acquired a blockchain startup known as Chain. The latter firm has the backing of VISA, Nasdaq and Citi Ventures. With the new acquisition, comes a new entity known as Interstellar that is a result of dissolving the Chain brand as well as that of Stellar known as Lightyear. Jed McCaleb, the founder of both Ripple and Stellar, will take over as the CTO (Chief Technology Officer) of Interstellar.
XLM vs XRP
It is with the above developments that the next few months will be very exciting for both blockchain projects. Both the Stellar organization and the Ripple company are expanding through acquisitions and international operations. Both have efficient cross border payment solutions.
In the crypto markets, XRP is ranked third on coinmarketcap.com and due to market capitalization. Looking at Stellar (XLM), it is in the number 5 position and is currently valued at $0.20 which is around 12 cents less than XRP. This makes XLM a cheaper option for anyone looking for a bargain in the markets.
But Which Will Rise Faster in the Markets
Being cheap does not necessarily mean it will give a greater rate of return per dollar. XRP might end up doing double-digit gains once xRapid is live next month due to the fact that this service uses XRP in its back-end operations. In the case of IBM’s cross-border payment solution, we do not yet know if it uses XLM to source instant liquidity. We can only speculate on this fact. There is also the entrance of LG into the remittance industry that might ‘eat’ into the market share of both Stellar and Ripple.
Therefore, it is safe to conclude that in the short term, XRP might be a better option due to the certainty that xRapid will go live in the next month or so. From a profit-oriented trader’s point of view, one can use some of the gains from XRP gaining value, to reinvest in some XLM once the xRapid hype dies down.
Which of the two blockchain projects do you think will triumph in cross-border payments and remittances? Will XLM eclipse XRP in the markets? Please let us know what you think in the comment section below.
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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Problems in Cardano camp as the CEO disagrees with foundation chairman
Cardano (ADA) has been one of the best blockchain projects so far. The organization runs on three different arms to make it a tremendous decentralized blockchain protocol. Three different bodies behind Cardano: IOHK – headed by Charles Hoskinson, oversees the software development of the blockchain network, Emurgo, manages the upcoming projects under developments by Cardano; and Cardano Foundation – led by Micheal Parson, takes charge of Cardano’s ecosystem.
However, despite being governed by three different bodies, there seems to be a significant conflict in the blockchain project’s camp. Hoskinson recently via an open letter accused the Chairman of Cardano Foundation of carelessness, prejudice, and misuse of Cardano funds.
Hoskinson stated that the Foundation Chairman had been the obstacle towards the progress of it. In a video, the head has urged the community to support the movement towards the sacking of the Foundation chairman.
Further, in Cardano’s open letter, Parson was accused of neglecting his chairmanship obligations. Firstly, Parson employed his colleagues and relatives with little or no knowledge and qualifications to show.
The open letter further stated that cases of fraud were also found on Parson during his time as the chairman of Cardano Foundation. He as well has been accused of staying away from his duties as a Chairman of the foundation, of which he doesn’t interact or chat with the community.
After the open letter was passed out by Cardano, the community has gone to support…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
BAT Coin Price Grows Due To Possible Coinbase Listing
Following the recent Coinbase announcement regarding the new listing of 0x, a lot of investors started speculating which cryptocurrency might be next. While Coinbase has announced reviewing several altcoins throughout 2018, it appears that most experts believe that BAT coin might be the one that this exchange will support next.
Basic Attention Token, also known as BAT coin, is an open-source, decentralized project created on Ethereum’s network. Its platform is also known for its integration with the web browser called Brave.
As an ERC20 token, BAT coin is among the coin that Coinbase seems to be interested in, which is what qualifies it for the listing. As a result of speculation, BAT has seen a significant price surge in the last 24 hours. The coin grew by as much as 12%, which made it even more interesting to investors, considering that the majority of other altcoins are currently trading in the red.
At the time of writing, the value BAT coin is $0.204778 per unit, with the coin being ranked as 44th on CoinMarketCap. The gains have made BAT attract additional attention, although there is still no confirmation that Coinbase will actually introduce this coin to its platform.
Even so, a lot of investors remain hopeful that this might be the case, as the recent listing of 0x indicates that Coinbase is finally ready to expand its token list. Furthermore, the exchange made it clear some time…
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