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Why no XRP rally after Ripple Swell?

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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.

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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.

Photo by Xavier Pinos on Unsplash

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CoinFlip Scores Big with BRD Wallet Partnership

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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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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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