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

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Ripple

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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Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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