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The Cheaper Ripple (XRP) Gets The More Attractive it Becomes. Here’s Why

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Despite the fact that it seems contradictory at first, Ripple (XRP) might actually be more attractive now that its price is so low. Let’s see why this may be the case.

About XRP

Ripple is a cryptocurrency that has been relatively stable since the price drop that hit the crypto market at the beginning of the year. Where other cryptos continued to drop more and more over the time, Ripple has mostly been balancing between $0.5 and $1.00.

Currently, its price is at $0.490357, with its market cap being slightly over $19 billion. However, despite the low price, Ripple still firmly holds the third spot on CoinMarketCap’s list of cryptos and is being regularly used on daily basis. In fact, some experts believe that Ripple might be getting even more popular as the time goes by, exactly because its price is so low.

At first, this doesn’t make any sense, but in order to understand this occurrence, we will have to take another look at its nature and popularity.

Ripple inspires trust

Ripple is a crypto that is centralized, which is the first thing that makes it different from most other coins. It is owned by the Ripple company, it cannot be mined, and it is mostly focused on creating better, faster, and more convenient payment systems.

These payment systems even include cross-border payments, which are now possible within seconds, while the traditional payments would usually take entire days to be processed. Because of this, Ripple has become one of the top coins chosen by banks and other financial institutions around the globe.

The fact that it is centralized helps with its stability, and since it has an owner and a face behind it, Ripple is capable of inspiring trust. Thanks to the company that owns it, Ripple has a certain reputation, which is exactly what the banks need in order to trust it. After all, it is much easier to trust a coin when you know who is leading it, what are they planning, and how good they are at what they do.

So, obviously, Ripple has a capable team behind it, and a name that inspires trust. Thanks to its products like xRapid, that have proven to be perfectly functional, banks see potential in this coin, which makes them want to adopt it and use it as an entrance to the crypto world, but under their own conditions.

XRP is becoming more and more attractive

This makes Ripple both necessary and desirable, which is why this coin has a guaranteed bright future ahead of it. Now, considering that we know that XRP will continue to be used despite the low price, the low price comes as an excellent opportunity for investors to get their hands on as many XRP coins as they can.

The crypto market is still young and largely unstable. However, many believe that this is still a good thing since it might help with filtering the existing cryptos. Their numbers have gone into the thousands, and with that many of them, nobody knows which ones have a future and which ones do not. The bad market will get rid of the coins that do not have what it takes to survive, and after this has happened, many believe that the remaining tokens will have their prices skyrocket.

This, of course, also includes Ripple, and so getting the coins while their price is still low makes perfect sense. As long as Ripple is being adopted and trusted by the banks, the coin is not going anywhere. With that in mind, the lower prices are actually making it more and more attractive, which is why the investors are buying XRP wherever they can find it.

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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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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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