Connect with us

Altcoins

Why no XRP rally after Ripple Swell?

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

Last month, September proved to be an incredible one for Ripple (XRP), mainly because of investors jumped in after the company hinted the launch of xRapid, its product that will use XRP token.

With xRapid, there is an excellent probability that big financial firms could be using XRP for global finance settlements directly. This single potential made Ripple’s XRP price go up by more than 100% last month.

What xRapid will do is play a role of a bridge between different currencies worldwide, allowing banks and payment providers to process cross-border remittances at a lower fee as well as high-speed. Let’s recall that the Ripple CEO, Mr. Garlinghouse claimed that dozens of banks would be making use of xRapid when 2018 ends, earlier this year.

With Swell happening where speakers like the former US president Bill Clinton had to speak alongside some positive announcements expected to-be made by the blockchain firm, it was anticipated that XRP price would surge.

Here we are, Swell is over (by the way not over officially as its second day is still in progress), but we didn’t witness any rally for Ripple (XRP) yet. That has made many starting to wonder why? Well, first up, that’s a valid question. Secondly, some good news was break yesterday on Swell too, but still, the XRP price didn’t respond well.

Ripple Labs, the firm that’s on the back of Ripple, revealed three US-based financial firms have signed up to their xRapid service. The alliance will help those companies to carry out global transactions within a couple of minutes only. That’s an impressive boost considering the fact that existing remittance system, SWIFT takes at least two days to make that possible.

Two out of three companies who have signed up for xRapid are payment providers and go by the names of Caullix and MercuryFX respectively. The third firm is Catalyst Corporate Credit Union, a corporative financial company.

Even though XRP had a nice bull ride last month, its price is still down by about 80% from the peak price token saw after the colossal bull run last year. The cryptocurrency touched $3 mark last year while it entered 2017 with a price of $0.006 per token.

Understandably, all eyes were on Ripple for its annual conference, Swell, mainly because of its star speakers like Gene Sperling and Bill Clinton, and anticipation of some big announcements. Both of those things have happened without failing even by an inch; the former US president took to the stage (and he praised the potential of blockchain a lot) as well as xRapid was made available for commercial use at full.

Relax. No matter how volatile the crypto markets are, you cannot expect to skyrocket your profits from XRP only because Ripple has been putting efforts in driving the adoption of xRapid lately. It takes time for adoption to start picking traction, everyone needs to understand that.

Now, what all the Ripple (XRP) holders need to do is wait for the xRapid adoption to spread (it will spread like the fire, potentially). As of now, only three companies have Opted for the service; there are hundreds of banks worldwide that are on SWIFT technology as yet.

Just imagine if only top 15 or 20 banks join the xRapid army, where would the XRP price go after such real-life consumption?

A way above than its current value, for sure. And that’s more likely to happen as more countries like Nigeria, Sri Lanka, and the likes start realizing that xRapid can save them 30-40% on remittance fees as well as make people send/receive payments within a couple of minutes instead of days.

For the global insights every crypto trader must have, apply for Elite membership!

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.

Photo by Xavier Pinos on Unsplash

Altcoins

Top 3 Coins to Buy Before They Go Big

Published

on

coins
READ LATER - DOWNLOAD THIS POST AS PDF

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.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

Continue Reading

Altcoins

TRON (TRX) Is Likely to Go Big in June

Published

on

Tron
READ LATER - DOWNLOAD THIS POST AS PDF

We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

Continue Reading

Altcoins

IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

Published

on

IOTA
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is…

Continue Reading

Elite